C-View International Limited

1X Unleveraged Standard Program

The investment objective of C-View Limited is to maximise returns by investing in the foreign exchange markets in both the major and minor currencies. Profits are sought from fluctuations in exchange rates and from the differentials in interest rates reflected in the value of currencies. The approach is discretionary, combining fundamental analysis, technical analysis and an understanding of market psychology. C-View favours a portfolio approach, which enables maximum profits to be generated within a disciplined, low-risk environment. C-View will carefully analyse the relative values of a wide range of currencies and construct a portfolio of positions when risk/return ratios appear to be above average. The holding of positions for yield may enhance this approach; from time to time there are sizeable differences in interest rates between currencies and subdued or beneficial exchange rate movements. C-View supplements its portfolio strategy with shorter term, opportunistic trading in the major currencies, both when currencies are fluctuating within a pre-determined trading range and also when a particular short-term trend is identified. C-View may occasionally trade minor currencies where range characteristics similar to the majors are identified, subject to the prevailing liquidity and price spread.