and this.... (take good note of the active bias toward m and a...

and this.... (take good note of the active bias toward m and a activity)

Global Small Cap Mining and Metals Strategy

The objective of this strategy is to give investors a focused exposure to ‘growth’ resources companies. The strategy provides many of the benefits of the strategy embedded in the Taurus Resources Fund without the illiquidity of a private equity structure.

The strategy operates within a target market capitalization range of USD200m to USD2500m. The universe of resources companies in this market cap range covers 40 countries (Australia, South Africa, Brazil etc) and crosses all commodity sectors. Key features of these companies in this sector include:

` they are often multi project (rather than single project)

` many are cash producing and dividend paying

` an active bias towards M&A activity to build and consolidate value

The strategy therefore provides investors, especially those who are seeking exposure from a limited knowledge base, with a liquid diversified portfolio of resources mining and metals equities.