Investing in the future of our planet and the most compelling fundamental mega macro trends facing our

world. This prudently managed multi manager fund harnesses the collective expertise and resources of some of the world's premier niche managers focused on the growing agriculture, water and scarce natural resources sectors.

www.AQUATERRAFUND.com

THE GREATEST NEEDS OF OUR LIFE TIME WATER & NATURAL RESOURCES
MACRO HIGHLIGHTS
80+ million people joining the planet each year Rapid industrialization of India, China, South East Asia, Latin America causing severe strain on existing resources

Severe water stress experienced in most productive parts of the world

Exciting opportunity set throughout agriculture and scarce resource complex through niche boutique specialists across the world THE AQUATERRA FUND IS A CARVE OUT OF THE FOLLOWING EXISTING STRATEGIES OF THE EARTH WIND & FIRE FUND Agriculture Water Natural Resources SIGNIFICANT ALPHA ADDED THROUGH Diversification across asset classes, geographies, instruments & styles Manager selection & deep due diligence Tactical global macro asset allocation

THE GREATEST OPPORTUNITY OF OUR LIFE TIME WATER & NATURAL RESOURCES
ABOUT GLOBAL FUND EXCHANGE Global Fund Exchange Ltd is an investment manager offering sensible diversified portfolio solutions to institutional investors. These are often customized to the particular requirements of our clients, optimizing returns and controlling risk Global Fund Exchange has constructed tailor made multi manager portfolios exceeding US$ 2billion for some of the worlds most sophisticated pension funds, sovereign funds and other institutions Specialists in Global Tactical Asset Allocation, Alternative Investments, Energy, Commodity and Multi strategies Seasoned principals have 40+ years experience in financial markets ABOUT THE FUND Cayman Master Feeder Structure Monthly Dealing / Quarterly Redemption Low minimum investment from $1MM Custodian: Auditor: Administrator: Deutsche Bank (Cayman) Eisner LLP Deutsche Bank Alternative Fund Services

THE BEST INVESTMENTS ARE WHEN NECCESSITY CREATES OPPORTUNITY

AGRICULTURE
Catalysts for investment Limited resources, increasing demand and rising food prices provide compelling reasons to invest in global agriculture SIGIFICANT opportunities in commodities, farming & seed technology and agribusiness. Exponential population growth How will we feed 9 billion+ people by 2050? FAO reports global agri production must increase 70% to meet new demand Nearly all new demand coming from developing world, where agri output is set to double Stock market cap in developing nations expected to grow fivefold over next 20 years to over $80 trillion; an indicator of rising regional wealth Historic shift in global dietary patterns as middle class shifts to a more meat-centric / energy-intensive diet Significant trend in developing countries, where meat consumption is growing 3X faster than rest of the world. Commodity volatility Record high food prices and market volatility Weather anomalies and pattern shifts have devastated crops, leading to unprecedented jumps in wheat, soybeans, corn, coffee, sugar and other basic commodities Over next decade, FAO expects grain prices to remain 15-40% above 1997-2006 levels Fears of agflation as consumers face higher costs across entire food production chain.

Looming food supply/demand gap USDA reports meeting projected food demand in 2030 would require additional acreage equal to the total planted cropland in the United States, Brazil and Argentina today Investment in agriculture must rise 47% to $279 billion/year at a minimum, says FAO Despite years of advances, gains in agri yield per acre have slowed to less than 1% a year Agri-science and technology attracting significant new investment and government focus Biofuels compete for farmland & water New mandates will require 240 million more acres for dedicated biofuel crops; representing 50% of all arable land in North America and 6% of world total 1 out of every 4 ears of harvested corn in the U.S. - the worlds largest producer - winds up in an ethanol plant. U.S. farmland has doubled in value over past decade. Land grab phenomenon In 2009, foreign investors purchased 111 million acres of farmland in the developing world a tenfold increase over ten years. Two-thirds of land deals have been made in Africa. The biggest buyers? Sovereign wealth funds from China, India & Middle Eastern countries looking for secure supplies Agriculture provides a multi-faceted global opportunity set for investors. By partnering with selected, niche sub-specialists, the AquaTerra Fund invests from field to fork across the agriculture supply chain in a wide range of geographies and asset classes.

WATER
Growing scarcity of freshwater Current freshwater sources satisfy only 50% of world demand. By 2025, the world will need 25% more water than is currently available Humans are extracting freshwater at a rate of 14million acre-feet/year up to 100X the natural replacement rate UNICEF & WHO report 884 million people lack safe drinking water; another 2.5 billion lack water for basic sanitation Contaminated water and poor sanitation contribute to the deaths of 5 million people annually; more than all forms of violence combined, including wars Water scarcity is already an economic constraint in major growth markets such as China, India, Indonesia, Australia and the Western U.S., warns the U.N. By 2025, per capita water availability in the Gulf will likely decrease by 50% High demand from agriculture Nearly 70% of global water consumption used for agricultural irrigation. In developing nations, this amount can be as high as 90% Every year, global agri sector wastes approx. 60% of the 2,500 trillion liters of water it uses Dangerous aquifer depletion occurring in major agricultural centers, including NW India, NE China, NE Pakistan, and SW U.S. Inefficient water infrastructure Municipalities commonly lose up to 50% of their water supplies to leaks. In the U.S., a projected $1 trillion in infrastructure spending will be required to overhaul pipeline system

The energy/water nexus Approx. 800 million gallons of petroleum are refined in the U.S. every day, requiring 1-2 billion gallons of water Extracting oil from aging oil fields or unconventional sources requires vast amounts of water. Tar sands require nearly 10X more water than conventional oil extraction. Every barrel of oil obtained from tar sands requires 5 barrels of water Electric power industry is 2nd largest user of water in the U.S. behind agriculture, consuming 39% of total freshwater supplies Advances in desalination, smart metering and wastewater treatment More than 7,500 desalination plants in use around the world; 60% in the MENA region By 2025, the U.N. predicts use of desalination will double worldwide Wastewater reserves account for 2% of all global water supplies. Sector gaining interest because treatment costs are typically one-third less than desalination China to double water and wastewater investments in 12th Five Year Plan, with over $4.5 billion new investment allocated between 2011-2015 Water provides some of the worlds largest and most interesting investment opportunities The water/energy conundrum is intensifying, and water scarcity is a serious and worsening global issue. The water sector is predicted to grow to over $6 trillion over the next two decades, providing ample opportunities for investors who understand the space.

NATURAL RESOURCES
Resource demand from developing world to exceed developed world by 2015 Demand for iron-ore, aluminum and copper to double over next 15 years. High demand straining international supplies Copper demand to exceed mine output by 822,000 metric tons in 2011, more than double last years shortfall. Prices have more than tripled since end of 2008 China now worlds largest consumer of metals; uses 1/3 of worlds aluminum, of copper, 1/10 of oil and of iron ore resources By 2030, additional demand would require Another Pilbara region (Australia) every 5 years to meet iron demand Another Saguenay (Canada) every 9 months to meet aluminum demand Another Escondida (Chile) every year to meet copper demand Another Hunter Valley (Australia) every year to meet coal demand Another Ranger (Australia) every four years to meet uranium demand Coal is king One 1,200 MW coal-fired power plant is being built every week in China China on track to triple its coal consumption and become a net coal importer Indias coal imports are up 10X over past decade and reached record highs in 2010. Predicted to rise another 20% in 2011 Demand/supply shortage of coal expected to reach 142 million tons next year in India

China dominates rare earth market China controls 95% of global supplies of these elements, crucial for solar panels, wind turbines, high tech devices, advanced batteries and electric vehicles Global search for new mining regions in Mongolia, United States & Australia Lithium - the most sought after and fought over commodity on the planet Lithium used in 25% of total world battery production in 2008 Korea, Japan & other Asian nations stockpiling 150,000 tons of lithium produced in West Australia. In 2011, China plans to increase lithium production 500% over 2010 levels Increasing demand for forest products Since 2008, log exports to China rose 600% on new government housing targets Demand for food, wood fuel and timber contributing to global forest destruction with severe implications for water resources, soil conditions and ultimately crop yields Timber used in production of cellulosic ethanol, a growing source of renewable fuel The rapid emergence of developing industrial powers poses a complex challenge for global resources markets. Increasing demand in the absence of sufficient investment in new infrastructure is widening the global natural resources deficit. Investing in natural resources is a crucial element of the investment strategy of the AquaTerra Fund.

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