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 -11% 11% 10% 7% 6% 4% 8%
Trailing 3 Year -20% 38% 32% 18% 10% 14% 16%
Trailing 5 Year -14% 25% 27% 31% 17% 23% 5%
Since inception TR 51% 61% 65% 68% 30% 45% 19%
Since inception Ann. 5% 6% 6% 6% 3% 4% 2%
Sharpe Ratio from Inception 0.18 0.22 0.24 0.24 0.12 0.16 0.05
Calmar Ratio (5-yr/3%) -0.13 0.05 0.07 0.08 0.00 0.08 -0.07
Calmar Ratio (Since Inception/3%) 0.04 0.09 0.11 0.10 0.00 0.09 -0.04

Note: *All figures are until end of January 2020; 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 13% Materials (4) 32%
Smallest position as % of book 1% Consumer Discretionary (8) 30%
Top 5 positions as % of book 49% Financials(2) 15%
Avg. weighted market cap of book (million) $921 Industrials(2) 11%
Avg. weighted free float of book 52% Healthcare(3) 9%
Net Exposure 100% IT(2) 4%
# of positions 21    

GIPS Compliant Composite Performance Presentations     |   GIPS Verification Letter