The Fund invests into a focused group of investment managers that have a broad exposure to companies that derive a significant portion of their earnings from Mainland China. In depth analysis is conducted on both bottom-up valuations of companies and on the macro-economic market conditions. The Fund will pursue long term above average returns with moderate to high volatility. MANAGEMENT FEE: structure changed from 1.5% to 2.0% on June 1, 2011. Performance going forward reflects fee of 2.0%. INCENTIVE FEE: 10% with a trigger of 6%. AUM reflects the aggregate of the various share classes and is denominated in USD.