The Foyil Focused Funds provide investors with the opportunity to choose among a number of Funds which invest in a concentrated portfolio of securities on a worldwide basis.

The Company’s overall objective is to achieve maximum investment returns while minimizing risk through diversification, the use of both long and short positions and the constant reassessment of each investment’s financial fundamentals.

Each Fund employs an intensive investment research process and provides Shareholders with the benefit of a portfolio managed by Foyil Asset Management Limited in a manner which is consistent with its successful investment selection methods.

The value investment approach of Foyil Asset Management Limited (“FAM”) emphasizes the following key points:

For long positions, a strong orientation toward securities that FAM’s fundamental research analysis shows are under valued and where earnings growth momentum is strong.

For short positions, a strong orientation towards securities that are expensive where FAM’s fundamental research analysis highlights an earnings disappointment not yet incorporated in the market.

Each Fund’s investments consist primarily of equity and equity-related securities, including common and preferred stocks, warrants and options.

As the investment objective is more likely to be achieved by implementing a policy that is flexible and adaptable, however, the Investment Manager may take advantage of investment opportunities in other types of securities such as fixed income securities, currencies, swaps or other financial instruments.

A Fund may also employ leverage to a limited degree. In addition, we seek to protect and to enhance the value of the Funds by making use of hedging strategies utilizing currency, stock and stock index options, forward contracts and futures contracts.

From time to time, each Fund may hold liquid assets, in the form of interest bearing bank deposits or money-market instruments.