GCC Funds

Currency:

US Dollars

Inception Date:

August 1999

Investment Objectives:

The fund is designed to deliver:

• Absolute annual returns in the range of LIBOR +4% to LIBOR +8%.
• Returns with low volatility (3% - 5%).
• Returns independent of the general direction of the traditional equity, fixed income and credit markets.
• Capital preservation in negative market conditions with a potential to deliver positive results.

Investment Program:

A fund of Hedge Funds well diversified across a broad mix of styles and strategies. The fund is over weighted in the lower risk categories of Relative Value and Event Driven. It also has a permanent allocation to short sellers as a portfolio Hedge. The fund is currently invested with 32 investment managers.

Investment Opportunity:

Given low fixed income yields and highly volatile equity markets, the fund provides valuable diversification benefits by seeking attractive absolute returns with low volatility and correlation to the traditional markets.

Currency:

US Dollars

Inception Date:

July 2002

Investment Objectives:

The fund is designed to deliver:

• Absolute annual returns in the range of LIBOR +6% to 10%.
• Returns with low volatility (5% - 7%).
• Returns with low correlation to the general direction of the traditional equity, fixed income and credit markets
• Down side protection in negative market conditions.

Investment Program:

A fund of Hedge Funds well diversified across a broad mix of styles and strategies. The fund aims to achieve a higher rate of return than the Alternative Strategies Fund and will therefore, be less constrained by volatility and correlation objectives.

Investment Opportunity:

Given low fixed income yields and highly volatile equity markets, GIC Event Driven Fund provides investors with valuable diversification benefits by seeking attractive absolute returns with relatively low volatility and correlation to the traditional markets.

Currency:

US Dollars

Inception Date:

December 2005

Investment Objectives:

The fund is designed to deliver:

• Capital appreciation through investments in securities listed in US, Europe and Asian equity markets.
• Achieve competitive returns over a complete market cycle period

Investment Program:

• To be carried out by the Investment Manager and third party funds if appropriate.
• Top-down and bottoms up approach relying on research based fundamentals.

Investment Opportunity:

• Portfolio diversification through Regional allocation.
• Value added through Country and sector rotation within real estate.