Victoire Latin American Long

Short Fund SP

Fund Investment Objectives

The Fund's principal investment objective is to achieve above-average capital appreciation through investments in equity and equity-linked securities of Latin American companies. The Fund seeks absolute returns by investing in Latin American stock markets and aims to generate consistent returns while preserving capital. No assurance can be given, however, that the Fund will achieve its objective, and investment results may vary substantially over time and from period to period. The fund's actual inception date is May 5, 2006.