Vallea Fund

Fund Investment Objectives

The Company's investment objective is to seek consistent above average returns primarily through a combination of long-term and short-term investments to achieve capital appreciation, while also attempting to preserve capital and mitigate risk through diversification of investments and hedging activities. The Company will primarily invest in fixed income, foreign exchange and stock indices located throughout the world. The Company will seek to maintain a diversified portfolio and will seek to diminish risks associated with adverse financial climates. Investment Policy The Company will invest in the securities markets of countries within the European Union, United States of America and developed Asian countries, but retains the right to invest a proportion of its s elsewhere. The Company has full flexibility to invest in a wide range of instruments, including listed and unlisted equities, debt securities (which may be below investment grade) options, warrants, currencies and other derivative instruments. Derivative instruments may be exchange-traded or over the-counter. The Company may also engage in short sales and the buying and selling of derivatives for hedging purposes. The Company may retain amounts in cash or cash equivalents, pending reinvestment, if this is considered appropriate to the objective of maximizing absolute returns. The Company's equity exposure will generally be confined to companies, the shares of which are listed or traded on a recognized exchange. The Company may also take an opportunistic approach to investing in event driven or special situations, especially in volatile markets. The investment approach may sometimes result in a relatively concentrated portfolio of positions, which is actively managed, with a focus on maximizing returns relative to risk. The strategy will include short sales, both as a hedging strategy and as a means of generating discrete absolute returns. When appropriate the Company may leverage its capital by borrowing. Company and Fund AUM is not disclosed by firm.