Everest Absolute Return Fund II

The Everest Absolute Return Fund II (Fund) was launched in June 2004. The Fund enables investors to gain exposure to a diversified portfolio of leading international absolute return funds (Investment Portfolio). The Investment Portfolio comprises a mix of managers and investment strategies including long/short equity, distressed securities, multi-strategy, managed futures, global macro and arbitrage.

The Fund’s investment objective is to generate strong, risk-adjusted, absolute investment returns over the long term. The return and risk philosophy of the Investment Portfolio differs from that of many traditional fund managers. Risk is regarded as the potential loss of invested capital as opposed to the deviation from a market index. Performance is thought of in absolute return terms, rather than being assessed relative to an index. This investment contains risk.