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 5% 0 -3% -1% -5% -9% -17%
Trailing 3 Year 161% 74% 92% 102% 145% 27% 21%
Trailing 5 Year -1% 46% 40% 29% 34% 0% -18%
Since inception TR 128% 120% 133% 152% 131% 53% 7%
Since inception Ann. 7% 7% 7% 8% 7% 4% 1%
Sharpe Ratio from Inception 0.29 0.28 0.30 0.32 0.29 0.11 0.00
Calmar Ratio (5-yr/3%) -0.05 -0.15 0.23 0.16 0.10 -0.10 -0.23
Calmar Ratio (Since Inception/3%) 0.06 -0.12 0.16 0.10 0.07 0.02 -0.06

Note: *All figures are until end of April 2023; 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 15% Materials (6) 49%
Smallest position as % of book 1% Consumer Discretionary (7) 24%
Top 5 positions as % of book 59% Financials(2) 14%
Avg. weighted market cap of book (million) 905 Industrials(2) 11%
Avg. weighted free float of book 52% Healthcare(1) 1%
Net Exposure 101% IT(2) 2%
# of positions 20    

GIPS Compliant Composite Performance Presentations     |   GIPS Verification Letter