Episteme Capital Partners (UK), LLP : Episteme Systematic Quest (ESQ) Composite

Investment Strategy

Episteme Capital claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. Episteme Capital is an alternative investment management firm comprising its parent holding company, Episteme Capital Partners (Cayman), Ltd, its London office affiliate, Episteme Capital Partners (UK), LLP and its Rye Brook, NY office affiliate Episteme Capital Partners (US), LLC. Episteme Systematic Quest (“ESQ”) is a multi-asset class systematic global macro program. ESQ’s investment approach has a balanced combination of fundamental, technical, and liquidity strategies. The program trades the most liquid foreign exchange forwards and government bond, short term interest rate, equity index and commodity futures. The benchmark is the Societe Generale CTA Index (Bloomberg ticker NEIXCTA). The Societe General CTA Index is designed to track the largest 20 (by AUM) CTAs and be representative of the managed futures space. Managers must be open to new investment and report returns on a daily basis. The Societe Generale CTA Index is equally weighted, and rebalanced and reconstituted annually. Returns are presented in U.S. dollars net of model management and incentive fees. Net-of-fees returns are calculated monthly using model fees of 1% annual management fee charged monthly and 20% performance fee. Actual fees charged may vary by client due to various factors including, but not limited to, account size as well as the terms of performance compensation. Further disclosure regarding fees is in the Form ADV Part 2a of Episteme Capital Partners (UK), LLP. Leverage is embedded in the products which the ESQ program trades, namely futures and FX forwards. Consequently, leverage is utilized daily and is not due to the size of its balance sheet, but rather to the underlying market value of its derivatives positions. To receive a copy of the GIPS composite report and/or a complete list of composite descriptions, both of which are available upon request, please send an email to invrelations@epistemecap.com. This document is intended for authorized recipients only and must be held in the strictest confidence. This document may not be reproduced or distributed in any format without the express written approval of Episteme Capital. Any violation of the foregoing may result in material harm to Episteme Capital. This document is for informational and discussion purposes only and is not an offering document or solicitation and may not be relied upon by any party in connection with any investment in any program, fund or investment vehicle managed by Episteme Capital. Such offerings or solicitations, if made, may only be made by the appropriate Confidential Private Placement Memorandum and any information herein will be superseded by such memorandum The Trading Program described herein will only be made to Persons who meet certain eligibility and sophistication requirements in the relevant jurisdiction, including but not limited to qualifying as "Qualified Eligible Persons" as defined in Regulation 4.7 of the U.S. Commodity Futures Trading Commission. This document is a financial promotion and has been communicated by Episteme Capital Partners (UK), LLP which is authorized and regulated in the United Kingdom by the Financial Conduct Authority. This communication is not available for general distribution in the United Kingdom because the Fund will be an unregulated collective investment scheme whose promotion is restricted by sections 238 and 240 of the Financial Services and Markets Act 2000. When distributed in the United Kingdom, this document is only intended for persons to whom it may be communicated lawfully under the Financial Services and Markets Act 2000 (Promotion of Collective Investment Schemes) (Exemptions) Order 2001 (the “Order”), including to the extent applicable persons who are professional clients or eligible counterparties or other persons to whom it may be communicated lawfully. No other person should act or rely on it. Other persons distributing this document in, from or into the United Kingdom must satisfy themselves that it is lawful to do so. The Trading Program will be suitable only for sophisticated investors for whom an investment in the Trading Program will not represent a complete investment program and who fully understand and will be capable of bearing the risks. The appropriate account documentation (including any applicable Private Placement Memorandum) provides additional information regarding some of risk factors and potential conflicts of interests which should be considered prior to an investment, including, among others, risks associated with decreases in market liquidity, changes in overall market leverage (such as deleveraging or liquidations by other market participants), potential limitations on the ability of Episteme Capital to implement the drawdown constraint in times of increased market volatility, short selling and global investing. Potential accounts and/or investors should carefully consider such factors prior to making any investment in the Program. The Trading Program described herein involves a high degree of risk. There can be no assurance that the investment objective will be achieved or that any account participating in the Trading Program or any investors will receive a return of their capital. In addition, investment results may vary substantially on a monthly, quarterly or annual basis. Episteme Capital also may have potential conflict of interests.