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The NewGen Mining Fund

Introduction

• New Gen Asset Management Limited (NGAML) is the Investment Manager.  It is registered with the Ontario Securities Commission as a Portfolio Manager, an Investment Fund Manager, and an Exempt Market Dealer.  The OSC regulates all activites of NGAML.
• The NewGen Mining Fund SPC (Special Purpose Company) is an open-ended investment company incorporated under the laws of the Cayman Islands as an exempted segregated portfolio.   The Fund is registered with and regulated by the Cayman Islands Monetary Authority.
• The New Gen Mining Fund LP (Limited Partnership) is an open-ended investment company incorporated under the laws of Canada as an exempted segregated portfolio.   The Fund is registered with and regulated by the Ontario Securities Commission.

Portfolio Construction and Risk Management

Liquidity	Maintain liquidity of 75% of portfolio below 20 days
Diversification	Estimated 30-40 stocks
Position Size	2.5-3.5% average, max 10% on any position
Net Exposure	Expected 50-150%
Gross Exposure	Expected 150-250%
Portfolio Turnover	Actively managed >200%
Risk Management	Specific equity shorts, equity indexes, option strategies

Fund Structure and Terms

Inception Date	November 1, 2009
Minimum Subscription	$100000
Management Fee	1.8%  per year
Performance Fee	20% paid on performance > (1-yr Treasury + management fee)
Incentivisation Alignment	½ performance fee subscribed as units in Fund and subject to 1-year lock-up
High Watermark	YES
Subscriptions	Monthly
Redemptions	30 Day Notice
Prime Broker	TD Securities
Auditor	Marcum (Cayman)
Fund Administrator	Bermuda Commercial Bank
Legal Advisors	Charles Adams Ritchie & Duckworth

Investment Process