C-View Limited : Currency Managed Account Program

Summary

The investment objective of C-View Limited, which was established in 1996, is to maximise returns by investing in the foreign exchange markets for both the major and minor currencies. Profits are sought from fluctuations in exchange rates, and from the differentials in interest rates reflected in the value of currencies. Performance of Individual accounts may vary, depending on factors such as the date the account began trading, the degree of leverage employed, fee structure, clients trading policies and the size of account used by brokers & dealers. Accounts are only opened after review and approval of the appropriate disclosure documentation & agreement & authorization information. Includes interest income on available balances that may not be earned by the investor.

Investment Strategy

The approach is discretionary, combining fundamental analysis, technical analysis and an understanding of market psychology. C-View favours a portfolio approach, which enables maximum profits to be generated within a disciplined, low-risk environment.

Risk Management

C-View will carefully analyse the relative values of a wide range of currencies and construct a portfolio of positions when risk/return ratios appear to be above average. The holding of positions for yield may enhance this approach; from time to time there are sizable differences in interest rates between currencies, but subdued or beneficial exchange rate movements. C-View supplements the portfolio strategy with shorter term, opportunistic trading of the major currencies. This is not only when currencies are fluctuating within a pre-determined trading range, but may also be when a particular short-term trend is identified. C-View may occasionally trade the minor currencies where range characteristics similar to the majors are identified, but this depends on the prevailing liquidity and spread of price. Leverage is based upon three times the trading level of actual returns,for each unit of capital.