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 -13% 2% -1% 7% 13% 10% -2%
Trailing 3 Year -48% 4% -6% -15% -20% 1% -17%
Trailing 5 Year -29% 37% 31% 30% 23% 29% 5%
Since inception TR 17% 50% 48% 56% 25% 47% 5%
Since inception Ann. 2% 4% 4% 5% 2.4% 4% 0.5%
Sharpe Ratio from Inception 0.07 0.17 0.17 0.19 0.11 0.15 0.01
Calmar Ratio (5-yr/3%) -0.14 -0.11 0.09 0.05 0.02 0.08 -0.05
Calmar Ratio (Since Inception/3%) -0.02 -0.04 0.05 0.04 -0.01 0.04 -0.06

Note: *All figures are until end of August 2020; 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 9% Materials (4) 25%
Smallest position as % of book 1% Consumer Discretionary (8) 19%
Top 5 positions as % of book 41% Financials(2) 11%
Avg. weighted market cap of book (million) $613 Industrials(2) 6%
Avg. weighted free float of book 35% Healthcare(3) 7%
Net Exposure 71% IT(2) 2%
# of positions 21    

GIPS Compliant Composite Performance Presentations     |   GIPS Verification Letter