Partners and Service Providers

The Manager

Managing Partners Limited (MPL) has been appointed by the Fund to act as the Manager to the Fund.

The Manager is a multi-disciplined investment house that manages a range of collective investment schemes and registered mutual funds investing in absolute return and other alternative asset classes. The senior management team has over fifty years of collective experience in asset and mutual fund management.

MPL is a member of The Alternative Investment Management Association Limited (AIMA) and has offices in Switzerland, mainland Europe and the United Kingdom. In addition to the management of absolute return and alternative funds MPL has a specialist team that concentrates on Traded Life Policy (or TLP) funds, an asset class that is renowned for its inherent guarantees and balanced growth characteristics.

The Administrator

The Fund and the Manager have entered into agreements with Taurus Administration Services S.L. dated 1 September 2011 to provide services to each Segregated Portfolio as administrator, registrar and transfer agent.

Taurus Administration Services S.L. (Taurus) is a company incorporated in Spain, with registered offices at Palacio de Miraflores, Carrera de San Jeronimo 15, 28014 Madrid. The principle activity of the company is the provision of a range of mutual fund administration services.

The Promoter

Sovereign PLC was incorporated in the Cayman Islands on 23 February 2005 and has been appointed by the Manager to act as Promoter to each Segregated Portfolio.

The Promoter’s objectives are to use all reasonable endeavours to promote (or procure the promotion of by use of a Distributor) the distribution of its Shares in accordance with the provisions of the Promoter Agreement.

Legal Counsel

Stuarts Walker Hersant Humphries, Attorneys-at-Law acts as Cayman Islands legal counsel to the Fund and not the Investors in accordance with their normal terms of business in connection with the offering of Shares. In respect to the review of this Document, Stuarts Walker Hersant Humphries has relied upon the information provided to them by the Fund and the Manager and its affiliates and has not investigated or verified the accuracy and completeness of the information contained herein or any information concerning the Manager, the Fund’s service providers and any of their affiliates and personnel. No independent counsel has been retained to act for the Investors.

In the course of advising the Fund and the Manager and its affiliates, there are times when the interests of the Investors may differ from those of the Manager or its affiliates. Similar issues may arise relating to trade errors, fees to be charged to the Fund, redemption rights of Investors and other terms of the Fund's Articles and the terms of anu of the services agreements with the service providers, such as those relating to termination of the agreement and indemnification. Stuarts Walker Hersant Humphries does not represent the Investors interest these issues.

Summary of Directors, Officers and Advisers