| 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 |
| 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 |
