Capital Growth Partners

C-View Limited (3XL)

Program Description: The investment objective of C-View Limited, which was established in 1996, is to maximize returns by investing in the foreign exchange markets 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 favors a portfolio approach, which enables maximum profits to be generated within a disciplined, low-risk environment. C-View will carefully analyze 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 sizable differences in interest rates between currencies, but subdued or beneficial exchange rate movements. C-View supplements the portfolio strategy with shorter term, opportunistic trading of the major currencies. This is not only when currencies are fluctuating within a pre-determined trading range, but may also be when a particular short-term trend is identified. C-View may occasionally trade the minor currencies where range characteristics similar to the majors are identified, but this depends on the prevailing liquidity and spread price.