The four key features of our first Fund, called the MANNA Canadian Managers Fund 1 are:

1. Exposure to the best, outperforming, emerging hedge fund managers in Canada;
2. A diversified portfolio in one Fund;
3. No stacking of fees (2 & 20 only); and
4. Use of Managed Accounts to minimize operational risk exposure.

MANNA Canadian Managers Fund 1 is an investment trust established under the laws of Ontario.

The Fund’s investment objective is to deliver long term capital appreciation through the use of a multi-manager, multi-strategy, diversified investment philosophy. The Fund will attempt to achieve this objective by allocating its assets primarily to a select group of Canadian emerging hedge fund managers that use a variety of investment strategies. Kensington Capital Advisors Inc. is the trustee and manager of the Fund. MANNA Asset Management Inc. a wholly-owned subsidiary of the Manager, is investment adviser to the Fund and will be responsible for making allocations of Fund assets to Investment Managers.

Manna has formed the Fund to provide investors with the opportunity to actively benefit from a portfolio of the best performing emerging hedge fund managers in Canada. Manna has developed strong relationships with the best hedge fund managers across Canada, resulting in preferred access to a number of managers with exceptional performance track records. The strategy of the Fund is to capitalize on these relationships to create a diversified portfolio of outperforming, emerging Canadian hedge fund managers, but with reduced operational risk through the use of segregated managed accounts. The result is a low cost, one-stop way to create an appropriate allocation to hedge funds, as an asset class, for an investment portfolio of any size.

In keeping with Kensington’s fee philosophy, MANNA ensures that investors do not pay more fees for this diversified portfolio than they traditionally pay for direct investment in single managers. In addition, MANNA constantly monitors the underlying managers’ performance and adherence to investment strategy, so that style drift can de indentified early, and the portfolio will be dynamically adjusted. The close relationship and monitoring is also in line with Kensington’s approach to multi-manager investing.  Finally, MANNA conducts extensive due diligence on an ongoing basis which is in many ways similar to the work Kensington does on private equity fund managers.

Manna offers the Fund as a timely and attractive investment opportunity that will:

• Select the best performing Canadian emerging hedge fund managers;
• Provide a diversified portfolio, using segregated managed accounts to manage risk;
• Have an aggregate cost to the investor that is the same as investing directly in the underlying hedge fund managers’ funds, notwithstanding the additional management and monitoring activities provided by Manna; and
• Be constantly monitored and adjusted through an active asset allocation strategy.