Founded in December 2000, Wessex is a long/short manager whose investment objective is to achieve long-term capital growth and absolute returns through investment in equity securities and related instruments. The firm has two long/short equity funds: Asia-Pacific, Global Natural Resources.

Asia-Pacific
Wessex Asia-Pacific Funds (the "Fund") investment objective is to achieve long-term capital growth by investing primarily in equity securities and related instruments in the Asia Pacific (ex-Japan) region. The investment strategy combines a top-down country allocation model with a bottom-up stock selection process. The markets in which the Fund will seek to invest comprise Australia and New Zealand; South East Asia, including Indonesia, Singapore, Malaysia, Thailand, Vietnam and the Philippines; the Indian sub-continent, namely, India, Pakistan, Sri Lanka and Bangladesh; and North Asia, namely China, Hong Kong, Taiwan and South Korea. Within these markets the Fund will seek to invest in listed equities, convertible securities, fixed income securities and derivative instruments, including index-related instruments, and where appropriate may invest in other collective investment schemes. The Fund will also invest in companies with activities substantially in the Asia Pacific region which may have a listing on other exchanges, including London and New York, and in instruments such as GDRs and ADRs whose value is based on those of listed Asia Pacific securities. The Fund may also sell short any or all of the above-listed instruments for hedging or other purposes, and may consider taking long or short positions in currencies such as Japanese Yen, U.S. Dollar or other regional currencies, or in instruments such as Nasdaq futures which may have a useful hedging role.

Asian Special Situations
The Asian Special Situations Fund aims to generate superior returns, irrespective of prevailing market conditions and direction, by building a concentrated portfolio of high conviction holdings by going long and short Greate China and ASEAN equities. The Manager takes a fundamentally bottom-up approach to investing and uses top-down macro factors to manage risk and participation in strong trends and themes.

Global Natural Resources
Wessex Global Natural Resources Fund (the "Fund") invests in global natural resource stocks with the objective to provide enhanced risk-adjusted returns with positive returns every year and volatility well below that of the HSBC Global Mining Index in U.S. Dollars. The Fund focuses on mining but has exposures in oils and softs. Primary instruments include equities of global mining companies, equities of other natural resource companies (including energy and soft commodities) as well as certain derivative securities. Secondary instruments include traded commodities and derivative instruments linked to traded commodities for exposure and hedging purposes.

Gold
Wessex Gold Fund (the "Fund") is a long/short global gold hedge fund. The focus is on stock selection employing fundamental bottom-up company analysis. This approach is integrated into a top-down, macroeconomic risk management framework. The Fund invests in undervalued equities while selling short overvalued equities. The investment methodology is based on the manager\'s extensive knowledge of gold mining equity markets and the constituent companies, exploiting the seasonality and style shifts common to these markets. The Fund is not market neutral.