The investment objective of the Foyil Focused Strategy Fund is to achieve maximum capital growth primarily through a focused portfolio targeted at 25 carefully selected investment positions in equity and debt obligations issued by companies and governments of any nation.

The assets of this Fund are primarily invested in long or short positions in equities 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, at times we will take advantage of investment opportunities in other types of securities such as fixed income securities, currencies, swaps and other financial instruments.

The Foyil Focused Fund may also employ leverage. To the extent that the Fund is invested in Eastern Europe and Russia, it may effect such investment through a holding in the Foyil Eastern Europe and Russia Focused Fund.

The base currency of this Fund is denominated in U.S. dollars, but investment opportunities are sought in a wide range of currencies