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 89% 53% 58% 65% 90% 38% 50%
Trailing 3 Year 1% 47% 47% 41% 56% 31% 26%
Trailing 5 Year 6% 90% 91% 74% 104% 55% 42%
Since inception TR 108% 130% 144% 158% 137% 96% 57%
Since inception Ann. 7% 8% 9% 10% 9% 7% 4%
Sharpe Ratio from Inception 0.30 0.35 0.37 0.38 0.34 0.31 0.18
Calmar Ratio (5-yr/3%) -0.03 -0.33 0.40 0.18 0.22 0.23 0.10
Calmar Ratio (Since Inception/3%) 0.06 -0.16 0.22 0.13 0.10 0.13 0.03

Note: *All figures are until end of August 2021; on Exhibit 1b the relative return differential is vs. S&P BSE 500 TR (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 12% Materials (4) 37%
Smallest position as % of book 1% Consumer Discretionary (9) 31%
Top 5 positions as % of book 54% Financials(2) 10%
Avg. weighted market cap of book (million) $702 Industrials(2) 12%
Avg. weighted free float of book 52% Healthcare(2) 3%
Net Exposure 97% IT(2) 4%
# of positions 21    

GIPS Compliant Composite Performance Presentations     |   GIPS Verification Letter