Page 1 GARDINER CAPITAL MANAGEMENT PCC

A financial institution is born

© 2013 Gardiner Finance LLC

This brochure presents the hedge funds currently being set up by Gardiner Capital Management PCC, which will have the status of a public non-banking financial institution in Mauritius. Its purpose will be to host hedge funds reg-ulated by a license issued by the Financial Services Commission (FSC). The fund will be managed by Gardiner Finance Mauritius Ltd., which holds license issued by the FSC. These two companies are not offshore corporations being resident in Mauritius for tax purposes and have their headquarters, ac-counting, audit, subscription bank, fund administrator, transfer agent in Mau-ritius. Their respective Boards of Directors are also be made up of a majority of Mauritian residents and a minority of non-Mauritian directors. The two companies are wholly owned subsidiaries of Gardiner Finance Holdings LLC, the promoter and beneficial owner, with Michel Bigot as its Chairman.

Gardiner Capital Management PCC, a financial institution under Mauritian law, will offer quali-fied investors opportunities to invest in hedge funds operating a strategy designed to deliver either absolute returns or con-stant positive returns, regardless of market trends, and to pre-serve capital.

At first sight, these aims might seem contradictory, since the underlying securities are made up solely of equities on a num-ber of international markets and

in a number of different curren-cies. However, it is not necessary to take risks to satisfy the first condition, i.e. constant positive returns, and even less necessary to take risks in order to preserve capital. Financial markets are frequently viewed with suspicion and credited with a negative image, especially in the wake of the financial crisis of 2008, that surround them do nothing to present the case for the simple and effective aspects of such markets within a complex global environment.

PRESENTATION OF THE COMPANY

THE GARDINER FINANCE GROUP

The Gardiner Finance Group is 100% pri-vately owned and comprises the following companies:

• Gardiner Finance Holdings LLC, a compa-ny incorporated under the laws of the State of Delaware, United States, which owns 100% of the shares in Gardiner Capi-tal Management PCC, as promoter and beneficial owner.

• Gardiner Capital Management PCC, a Protected Cells Company incorporated under the laws of Mauritius, which will have the status of public non-banking de-posit-taking financial institution and holder of an FSC licence as a Collective Investment Scheme (CIS).

• Gardiner Finance Mauritius Ltd., a com-pany incorporated under the laws of Mau-ritius, which will act as the CIS Manager or fund manager. Its shareholders are Gardi-ner Finance Holdings LLC and Gardiner Capital Management PCC.

• Gardiner Finance LLC, a company incor-porated under the laws of the State of Del-aware, United States, which is responsible for property rights and licences to graphics, website domain names and copyright.

• Gardiner Finance Ltd., a company incor-porated under the laws of England, which plays a complementary role in all matters not within the remit of the above compa-nies.

© Corbis 2003

© Gardiner Finance LLC 2013

Gardiner Capital Management PCC Page 2

The financial insti-

tution will distri-

bute hedge funds on

a global scale accor-

ding to a strategy

of absolute returns

and capital preser-

vation.

THE MANAGEMENT TEAM

Our philosophy

The hedge funds' philosophy is perfectly simple: a combination of an absolute returns strategy and its corollary - capital preserva-tion. This is achieved by mathematical selec-tion of the equities invested according to specific criteria, irrespective of market con-ditions, coupled with daily updating accord-ing to market trends at the start of trading.

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Michel Bigot is French. He spent 20 years working in the banking and insurance sector before taking up a salaried position as a Sen-ior Financial Advisor in Geneva and later becoming an independent financial advisor. In 2004, he set up the firm of Gardiner Finance LLC in Geneva and www.gardinerfinance.com website. In 2007, he started an investment fund in Mauritius and was granted an initial FSC license for the Geneva-based firm then employing him as a financial advisor. He holds a Certificate in Global Leadership from Thunderbird School of Global Management. He is the company's Chairman.

Patrick Castagna is also French. After graduating from the Faculty of Law of Strasbourg University, he worked in Pri-vate Banking as a Senior Financial Advisor for Worms and Barclays in France, and in Switzerland as Senior Account Manager with a management and trading firm. Fluent in French, English and German, Patrick is a superlative com-municator and will serve as CEO of Gardiner Capital Man-agement PCC.

The first fund is:

Gardiner US Fund: invested in equities on US markets.

The financial institution supporting the funds is located in Mauritius. The fund is managed from Geneva on a daily basis with the management team.

A FX Fund project is under way for the trading of currencies. This fund has not received any FSC clearance yet. It will show a daily NAV at D+1 on the website.

The management team

is highly skilled and

experienced in capital

markets, with a global

overview of the in-

dustry. They have

developed tools and

procedures to hedge

fund management.

The "Master Mind" is mentioned frequently in the works of Napoleon Hill, which most of us will have read at some time or another. He refers to the ability of entrepreneurs to bring together specific skills for greater effective-ness, for the greater good of society. Our fund management partners:

Financial institution: Gardiner Capital Mana-gement PCC, Port-Louis, Mauritius.

• Promoter and beneficial owner: Gardiner Finance Holdings LLC, Delaware, USA.

• Fund manager: Gardiner Finance Mauritius LTD., Port Louis, Mauritius.

• General and global management: Gardiner Finance LLC, Geneva, Switzerland.

• Chairman: Michel Bigot, Geneva, Switzer-land

• CEO: Patrick Castagna, Geneva, Switzerland

• License: Financial Services Commission (FSC), Ebene, Mauritius.

• Legal counsel: JuristConsult, Port Louis, Mauritius.

• Management company: Juristax, Ebene, Mauritius.

• Subscription bank: Afrasia Bank, Port Louis, Mauritius.

• Custodian: MCB, Port-Louis, Mauritius

• Investment dealer: Interactive Brokers, Greenwich, CT, USA.

• Auditor: BDO Mauritius, Port Louis, Mauri-tius.

• Property rights: Gardiner Finance LLC, USA.

• Tax adviser: Maître François de Senneville, Paris.

• Webmaster: SIA Itero, Riga, Latvia

• Advertising agency: Ink, London, United Kingdom.

THE PARTNERS

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© Gardiner Finance LLC 2013

Such a combination

of qualified partners

creates a high perfor-

mance organisation

for fund management

and distribution. It is

the source of efficien-

cy; rigour; ethical ap-

proach of the funds

we offer as well as

sustainablity and Ex-

cellence.

In addition to being a world-famous tourist destination, Mau-ritius is also the financial hub of the Indian Ocean, with funds of USD500 billion on deposit. The country features on the OECD "white list" and is a signatory to numerous tax conventions. Its market regulator, the Financial Services Commission (FSC), ex-amines applications from and issues non-banking licenses to investment funds, pension funds and insurance companies.

The choice of Mauritius as juris-diction was dictated in part by these criteria, and also by a rea-

soned decision to avoid the Eu-ropean Union, the problems of the euro and growing public deficits, not to mention the eco-nomic recession in the euro zone and the political problems posed by Italy, for example, and the banking crisis in countries like Cyprus.

Obtaining an FSC license is mak-ing Gardiner Capital Manage-ment PCC a non-banking finan-cial institution in Mauritius for the protection of investors through strict and transparent procedures.

MAURITIUS

The FSC

The FSC or Financial Services Commission is the regulatory authority for GBL1 category com-panies. It issues licenses only after scrupulous examination of applications which require a great deal of rigour and expertise to compile.

The operational procedures in-volved require the assistance of a management company to liaise between the financial company and the FSC and with banks and other partner organisations. The financial company, which has the status of a financial institution in Mauritius, is thus free to focus on its core business, i.e. managing the funds it promotes. The com-pany is resident in Mauritius for tax purposes and all documents are retained in Mauritius and available to the FSC at all times.

Strict procedures

It is within this strictly supervised regulatory environment that Gar-diner Capital Management PCC will operate on behalf of its in-vestors:

Subscriptions will be processed by Juristax Ltd which is respon-sible for collection of docu-ments and due diligence.

• Subscribers transfer funds to the financial institution's account with Afrasia Bank Ltd.

• The bank transfers all sums invested to MCB at the end of each month.

• The fund management team at Gardiner Finance Mauritius Ltd. manages the funds in conjunc-tion with the trader, Interactive Brokers in the USA.

• Reconciliation of client ac-counts, calculation of NAV and the information platform are all managed by Equinoxe AIS Mauri-tius in its capacity as transfer agent.

• The company and the funds are audited by BDO Mauritius in ac-cordance with international au-diting standards.

Gardiner Capital Management PCC

© Corbis 2003

The Financial Services

Commission (FSC) is the

regulatory authority in

Mauritius. It issues non-

banking licenses and mo-

nitor the application of

the rules in force under the

Financial Act 2007.

The first fund consists of US equities, mainly small- and mid-caps, with a dual strategy of absolute returns and capital preservation.

The fund's investment objective is to achieve a maximum return on investment by pur-chasing listed equities. The fund manager achieves this objective by selecting equities for the short, medium or long term on the basis of both fundamental and technical anal-ysis, taking advantage of investment oppor-tunities created by market anomalies over a short-term investment horizon. There is no guarantee that the fund will achieve its in-vestment objective. Most of the fund's re-turns are achieved from companies which appear to be undervalued in terms of intrin-

sic value, with a high return on invested capi-tal and limited competitiveness.

Most of the stocks in these companies has been analysed prior to investment and are purchased over a short, medium and long-term horizon. In the case of a short-term in-vestment, the fund manager seeks to identify companies or indices exposed to competitive pressures with low returns on investment and weakened fundamentals.

Short positions are not generally selected as hedging for long positions. Some of the in-vestment techniques used by the find include particular risks best described as "specific risk factors".

GARDINER U.S. FUND FACTSHEET

The US market is the most dynamic in the world and features more information sys-tems than any other. Stock picks are made at the start of each day's trading, taking into account the trend on the markets. In the event of a neutral market, a short portfolio is used to hedge a long portfolio. A maximum margin of 50% may be used for equities.

The fund is decorrelated from markets and behaves positively under all conditions with a strong upward trend and weak downward trend. Returns can be tailored according to performances over previous days and weeks, i.e. according to whether the fund is ahead of or trailing an average monthly return of 15%, the midline that corresponds to the fund's philosophy. Risk management is ap-plied by the intrinsic behaviour of the select-ed equities and daily trading.

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Fund fondamentals

The first fund in our

range is the

« Gardiner U.S.

fund », invested in

U.S. equities in the

most dynamic and

best-informed mar-

ket in the world.

Our dual investment

philosophy, Abso-

lute return plus Ca-

pital preservation is

our guarantee of

effective risk mana-

gement.

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Gardiner Capital Management PCC

C/o Juristax Ltd

12 th Floor, NexTeracom Tower

Ebene, Mauritius

Contact:

Patrick Castagna, CEO

Tél. : +41 78 743 95 58

patrick.castagna@gardinercap.com

Skype: genevepc

www.gardinercap.com

Contact us

© Corbis 2003