GLOBAL EQUITY BRAZIL MULTI-STRATEGY FUND

The investment strategy for the Global Equity Brazil Multi-Strategy Fund includes trading in the Brazilian or other markets, arbitrage trades, relative value long/short positions, outright long and short positions based on the value and momentum, swaps and currency forward contracts, listed and over-the-counter options as to all of the foregoing.

The Global Equity Multi-Strategy Fund may invest in quotas of other investment funds managed by the investment manager.

GLOBAL EQUITY BRAZIL STOCKS FUND

The Global Equity Brazil Stocks Fund seeks to generate long term capital appreciation through investments in a limited number of Brazilian stocks of publicly traded companies. These companies are selected based on fundamental analysis, corporate governance standards and future prospective returns. All the investments in BM&F Bovespa will be made through certified stockbrokers. The Global Equity Brazil Stocks Fund may invest in quotas of other investment funds managed by the investment manager

Maximum long exposure limits per company are not expected to be more than 30% of the Global Equity Brazil Stocks Fund investments. The number of invested companies is expected to be limited, which will allow the investment manager to exercise a hands-on investment oversight at the same time affording a reasonable level of investments of the Global Equity Brazil Stocks Fund.