European Absolute Return Fund* Performance Benchmark** Hedge Fund Index***

* Class A SEK, ** 3 months Swedish T-bills, *** Dow Jones Credit Suisse Long/Short Equity, local currency

Alsback - European Absolute Return Fund is a long/short equity hedge fund investing in European equities. Investment decisions are based on fundamental research of individual companies combined with a well-defined macro scenario. The fund targets to generate a positive return at low risk to its unit holders. The return should over time be less dependent on the development of the general stock market. The tradeoff between risk and return should over time be more favorable than an equity index portfolio.