Investment Strategy

To take advantage of sector-wide weakness and special situations in today's mining and energy markets with the following cornerstone strategies:

1. Value plus growth equity portfolio
2. Top down and bottom-up analysis
3. Highly risk manages investment style
4. Strict downside protection

Why invest in Natural Resources?

Long-term bull market for commodities driven by demographic and environmental factors.

Expanding populations and emerging middle classess - China, India, Brazil, Russia	Finite Resources and less frequent major discoveries	Social, environmental and political issues limit development  Opportunities

Fund Strategy

Three Equity Classes

1) Mid to Large Capitalization Mature Issuers

• Value-investing platform
• Highly liquid, well-managed and well-capitalized
• Hold period = 12 to 24 months

2) Public Special Situations

• Significant market out-performance
• Short-term mis-pricings/re-ratings
• Hold period = 1 to 6 months

3) Private Equity

• High growth potential seed and secondary financing
• Hands-on management
• Hold period = 24 to 36 months