Launch of the "Multi Strategy Fund Fenja" was at 01 October 2010 with a NAV of 100. The performance from January 2007 to 30 September 2010 was achieved with the underlying trading systems of the "Multi Strategy Fund Fenja" on real accounts and is subject to adjustment.

The contents of this presentation are solely for information purposes. The information herein constitutes neither an offer or a solicitation, nor a recommendation to buy or sell financial or investment instruments of any kind or to execute any transactions. The past is not necessarily a guide to the future performance of an investment instrument. The value of investments may fall as well as rise and investors may not get back the amount they invested. Thus past performance does not necessarily provide any guarantee of future results. Due to fluctuations in the value of investments, there is no guarantee that any capital invested will maintain its value or even increase in value. In extreme cases the entire amount invested may be lost. In addition, fluctuations in exchange rates may also decrease or increase the value of investments.

Notice: Fenja Funds Multi Strategy Ltd. is not registered for public sale and is available for QEP only. Results prior to the inception date reflect systems performance on real accounts. However, performance data should be considered as hypothetical as the systems were not traded combined in a fund.