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The Salvo Global Managed Prime Feeder Fund's objective is to generate longterm capital growth for investors. The portfolio will apart from assets in liquid form, invest solely in participatory interest of the Salvo Global Managed Fund PC established under the SA Alpha PCC Limited, domiciled in Guernsey. To the extent that the assets in the portfolio are exposed to exchange rate risk, the manager may enter into financial transactions for the exclusive purpose of hedging such exchange rate risk subject to the conditions and limits as stipulated by the Act. The underlying portfolio invests primarily in a combination of global equity securities, preference shares, money market instruments, property shares and other listed securities on global exchanges. The trustee shall ensure that the investment policy set out in this supplemental deed is carried out. For the purpose of this portfolio, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once the portfolio has been closed, open the portfolio again to new investors on a date determined by the manager.

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