Ha Long Bay (Vietnam)

Prior Performance of IM

Unless otherwise indicated, the performance in the accompanying document shows the unaudited, net of applicable management, performance and other fees, and expenses, actual performance of Worldwide Opportunity Fund ("WWOF") over the past 10 years. It presumes reinvestment of earnings and excludes investor specific sales and other charges. Please refer to Worldwide Opportunity Fund (Cayman) Ltd's (the "Fund's") offering documents for more information regarding the Fund's fees, charges and expenses, which will reduce the Fund's gains.

WWOF was managed by three different Investment Managers over its life, but the people who made the investment decisions for WWOF during that entire period of time were the same in each of those managers and are the same people who are make the decisions in the Investment Manager (Terra Partners Asset Management) for Terra Capital.

The results shown in the document are real returns and they show actual performance, but they are presented only to give current and potential investors in Terra Capital an illustrative view of the performance of a portfolio guided and managed by the same people who are managing the portfolio of TCA when applied to a similar investment mandate. HOWEVER, performance may vary substantially from year to year or even from month to month. An investor's actual performance and actual fees may differ from the performance information shown due to, among other factors, capital contributions and withdrawals/redemptions, different share classes and eligibility to participate in "new issues." The value of investments can go down as well as up. Certain share classes of the Fund may be closed, including the share class from which the performance shown has been derived. Hence, these results should only be used as a guide since past performance cannot and does not guarantee future performance; moreover, the returns for TCA will certainly diverge from these returns since the investment climate today is different than it was over the prior period and the investment concerns of the Investment Manager and the Board of Directors of a publicly listed closed-end fund are different than those for a privately owned Hedge Fund composed only of highly qualified investors.

When reviewing the document with the performance figures, all readers are cautioned to understand that the various Benchmarks were provided for illustrative purposes only. Comparisons to benchmarks have limitations because benchmarks have volatility and other material characteristics that may differ from the portfolio. Also, performance results for benchmarks do not reflect payment of investment management/incentive fees and other fund expenses. Because of these differences, benchmarks should not be relied upon as an accurate measure of comparison.

Benchmarks and financial indices are shown for illustrative purposes only and are provided for the purpose of making general market data available as a point of reference only. Information related to indices and benchmarks, has been provided by and/or is based on third party sources and, although believed to be reliable, has not been independently verified. Such benchmarks and financial indices may not be available for direct investment, may be unmanaged, assumer investment of income, do not reflect the impact of any trading commissions and costs, management or performance fees, and have limitations when used for comparison or other purposes because they, among other reasons, may have different trading strategy, volatility, credit, or other material characteristics (such as limitations on the number and types of securities or instruments). The Fund's investment objective is not restricted to the securities and instruments comprising any one index. No representation is made that any benchmark or index is an appropriate measure for comparison. The following information is provided in order to further explain such various benchmarks and other relative factors that were used in creating the annexed chart.

  • The MSCI Frontier Markets Index (Total Return Gross) is a free float-adjusted market capitalization index that is designed to measure equity market performance of frontier markets. As of June 2012 the MSCI Frontier Markets Index consisted of the following 25 frontier market country indices: Argentina, Bahrain, Bangladesh, Bulgaria, Croatia, Estonia, Jordan, Kenya, Kuwait, Lebanon, Lithuania, Kazakhstan, Mauritius, Nigeria, Oman, Pakistan, Qatar, Romania, Serbia, Slovenia, Sri Lanka, Tunisia, Ukraine, United Arab Emirates, and Vietnam. The MSCI Daily Total Return (DTR) Methodology reinvests dividends in the indices on the day the security is quoted ex-dividend. The MSCI Frontier Markets Index Total Return Gross approximates the maximum possible dividend reinvestment. The amount reinvested is the entire dividend distributed to individuals resident in the country of the company, but does not include tax credits.
  • HFRI: The constituents of the HFRI Emerging Markets Indices are selected according to their regional investment focus only. There is no investment strategy criteria for inclusion in these indices. Funds with no primary focus in any of the aforementioned regions are categorized under the HFRI Emerging Markets Global Index. Funds included in the HFRI Monthly Indices must:
    • report monthly returns;
    • report net of all fees returns;
    • report assets in USD;
    • have at least $50 Million under management or have been actively trading for at least twelve (12) months

No Solicitation: This is not a solicitation to buy any security, and prior to investing in any product managed by the Investment Manager, potential investors should carefully study the Confidential Offering Memorandum connected with such product in full.

Documents Interim Report 2017 PFIC statement
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