Tree Alpha Equity UCITS Fund NOK Leaders Class Pooled Accumulating

Fund objective

Investment Objective The investment objective of the Sub-Fund is to produce long term capital growth. Investment Policy The Sub-Fund will primarily invest in highly liquid equity securities of large capitalisation multinational companies which own established brands with global recognition and which have sustainable value that persists across market cycles. The Sub-Fund may also invest indirectly in global brand companies through derivatives known as contracts for difference ("CFD") and equity swaps. A contract for difference and an equity swap are forms of a contract between two or more parties the value of which is based on an agreed-upon underlying financial asset, which in the case of the Sub- Fund, will consist of a basket of equity securities or an equity index. The Sub-Fund may also take short positions in the MSCI World Index or a diversified basket of equity securities representative of world equity markets as part of its investment strategy. Such short positions shall never be taken on a single stock. Any cash received from these short positions shall be invested in the same global brand companies as are already held by the Sub-Fund to increase the overall returns from the Sub-Fund's portfolio. This additional feature will be used to take advantage of a favourable market environment. This means the Sub- Fund will make an additional profit (known as "alpha") if the value of the investment in the global brand companies appreciates faster than the value of the shares represented in the short positions taken by the Sub- Fund in the MSCI World Index or a diversified basket of equity securities. Conversely, the Sub-Fund may lose money if global brand companies underperform the short positions taken by the Sub-Fund in the MSCI World Index or a diversified basket of equity securities. The Sub-Fund may also invest up to 100% of its net assets in cash and money market instruments (with a minimum Standard & Poor's rating of "A") in circumstances of extreme market volatility or if market factors require and in order to achieve its investment objective or pending reinvestment. The Sub-Fund may also invest up to 10% of its net assets in open-ended exchange traded funds and other open-ended collective investment schemes which enable the Sub-Fund to achieve its investment objective. Subscription and Redemption You may sell your shares in the Sub-Fund any day that banks are open in in Ireland and the United Kingdom. You must submit your application to the Sub-Fund's Administrator before 1.00 p.m. three business days before the day on which you want to sell. Income Your shares do not pay income, but instead the Sub-Fund reinvests such income to grow your capital. Fund Currency As your shares are denominated in NOK and the Sub-Fund is valued in USD, forward contracts are used to attempt to eliminate the effects of changes in the currency exchange rates. Benchmark The Sub-Fund is actively managed meaning that the investments are made on a fully discretionary basis. The Sub-Fund may measure its performance relative to the HFRX Absolute Return, Dow Jones, MSCI World, Eurostoxx 50, FTSE 100, DAX, S&P 500, OMX, SMI, OBX indices for reference or investor communication purposes. The Sub-Fund does not operate any form of target to outperform benchmark indices. Investment Horizon Recommendation: the Sub-Fund may not be appropriate for investors who plan to withdraw their money within 5 years.