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Emerging Asset Management

Building Strong Foundations

New Opportunities and Challenges for Emerging Fund Managers

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26th F ebruary 2013, New Y

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Emerging Asset Management

Building Strong Foundations

www.eam.bm

US Emerging Manager Platform

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Delaware Separate Series LLC Assets and liabilities are legally segregated No cross-collateral risk

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Each Sub-fund operates independently Investment Manager can focus time and resources on building a track record Cost effective and quick to launch

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Emerging Asset Management

Building Strong Foundations

www.eam.bm

Key Benefits

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Cost effective solution for back-office, fund administration, legal and accounting support

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Time efficient Established legal structure and documentation Launch within 4 weeks

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Access to experienced service providers and professional advisers at good rates

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Emerging Asset Management

Building Strong Foundations

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Structure

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EMERGING MANAGER PLATFORM LLC

Apex Fund Sevices (Administrator) Bingham McCutchen (US Legal Counsel) EAM (Platform Manager) Investment Manager Investment Manager Investment Manager Sub – Fund 1

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Sub – Fund 2 Sub – Fund 3

Emerging Asset Management

Building Strong Foundations

www.eam.bm

Legals

PPM Instrument to LLC Agreement Subscription Agreement Administration Agreement Supplement Prime Broker/ Custodian Agreement

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Emerging Asset Management

Building Strong Foundations

www.eam.bm

Contents of Supplement

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Subscription and redemption terms Investment objective and strategy Investment restrictions

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Details of Service Providers Biographical details of principals of Investment Manager Summary of fees and expenses

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Risk factors

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T ax and regulatory disclosures

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Emerging Asset Management

Building Strong Foundations

www.eam.bm

Service Providers and Professional Advisors

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25 basis points subject to minimum of US6k per annum Client appointed or EAM referral Client Bingham

AUM less than USD 5m, USD $1,500 per month, AUM USD 5 to 10m, USD $2,000 per month, AUM more than USD 10m, USD $,000 per month or 10 basis points.

Deloitte Platform Manager – EAM (USA) Investment Manager Administrator – Apex Fund Services (US) Legal counsel Prime Broker/ Custodian Auditor

Emerging Asset Management Ltd.

TJ Pearman Building, 3 Burnaby Street, Hamilton, HM12. Bermuda. T : +1 781 715 5080 E: chris@eam.bm www.eam.bm For further information please contact: ¡

Christopher Buchan ¡