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 -25% 5% -2% -12% -18% -10% -10%
Trailing 2 Year 2% 47% 45% 37% 39% 22% 20%
Trailing 3 Year 34% 60% 69% 93% 89% 52% 47%
Since inception TR 73% 58% 64% 70% 42% 29% 17%
Since inception Ann. 7% 6% 6% 7% 4% 3% 2%
Sharpe Ratio from Inception 0.31 0.24 0.26 0.27 0.17 0.09 0.06
Calmar Ratio (5-yr/3%) 0.08 0.24 0.30 0.42 0.34 0.31 0.19
Calmar Ratio (Since Inception/3%) 0.11 0.10 0.12 0.15 0.05 0.01 -0.04

Note: *All figures are until end of April 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) 32%
Smallest position as % of book 1% Consumer Discretionary (8) 29%
Top 5 positions as % of book 46% Financials(2) 14%
Avg. weighted market cap of book (million) $860 Industrials(2) 9%
Avg. weighted free float of book 48% Healthcare(3) 6%
Net Exposure 93% IT(2) 5%
# of positions 21    

GIPS Compliant Composite Performance Presentations     |   GIPS Verification Letter