Trafalgar Catalyst Fund - July 2008

The Trafalgar Catalyst Fund is an event driven hedge fund focusing on strategies around corporate events such as takeovers, mergers, bond reorganisations, liquidations and other special situations.

All positions have a determined catalyst and a clear path to trade exit. Options are used to aim to define downside and to create a more symmetrical risk/reward.

From June 2007-2008, it has returned 8.48% and over the last six months, this figure was 1.20%. Over the last three months, it returned -1.94%. Its rolling 12 month standard deviation has been 8.57% with a rolling 12 month Sharpe ratio of
0.54.

Since inception annualised compound return has been 12.07% with a cumulative rate of return