Exhibit 1a – Since-inception gross performance (USD)
Exhibit 1b – Relative rolling TTM Returns (USD)
Exhibit 2a – Metis India Opportunity Fund’s Gross Performance
 
Metis India Opportunity Fund
Nifty TR
S&P BSE 500 TR
S&P BSE Midcap TR
S&P BSE Smallcap TR
Eurekahedge India
India-focused CE Funds*
USD, Inception: April 2011
Trailing 1 Year -18% 9% 3% -8% -16% -3% -6%
Trailing 2 Year 10% 50% 49% 44% 40% 29% 24%
Trailing 3 Year 40% 60% 71% 101% 93% 60% 47%
Since inception TR 81% 60% 65% 72% 37% 35% 19%
Since inception Ann. 8% 6% 6% 7% 4% 4% 2%
Sharpe Ratio from Inception 0.36 0.27 0.29 0.30 0.17 0.11 0.08
Calmar Ratio (5-yr/3%) 0.11 0.29 0.37 0.49 0.37 0.32 0.40
Calmar Ratio (Since Inception/3%) 0.13 0.11 0.13 0.14 0.03 0.04 -0.03

Note: *All figures are until end of March 2019; on Exhibit 1b the relative return differential is vs. S&P BSE 500 Total Return (USD) index. On Exhibit 2a risk-free rate of 3% was assumed for calculating Sharpe Ratio. Metis India Opportunity Fund’s (MIOF), which went live on March 11, 2014, track record was a live converted blend of our running onshore strategies (hedged at then prevailing premiums, along with benchmark indices) till March 31, 2014; India-focused close-ended funds are actively managed in US; contact manager for INR track record and GIPS compliant presentations/independent verification letter. Sources: S&P Dow Jones, Eurekahedge, Internal

Sources: S&P Dow Jones, Eurekahedge, Internal

Exhibit 2b- Portfolio Snapshot Exhibit 2c – GICS Sectors (# holdings)
Top position as % of book 11% Materials (4) 33%
Smallest position as % of book 1% Consumer Discretionary (8) 29%
Top 5 positions as % of book 47% Financials(2) 14%
Avg. weighted market cap of book (million) $955 Industrials(2) 9%
Avg. weighted free float of book 47% IT(2) 5%
Net Exposure 93% Healthcare(2) 4%
# of positions 20    

GIPS Compliant Composite Performance Presentations     |   GIPS Verification Letter