1º- Full Throttle Plan:
Advantage Expansion Compartment

Annapurna seeks to be a special benchmark: the highest leveraged instrument successfully traded in the industry. Cruising at the "maximum speed" -optimum hedge ratio, no dilution- means being granted the maximum possible return in a minimum time, however it may also mean being witness to a possible drawdown of 50% or more, of the traded asset....

Not recommended for people who do not have some experience in these markets.
In any case do not invest more than 5% ( five per cent) of your total wealth, in this portfolio.

Our Fees:
Management Fee: 1% annually, payable quarterly.
Performance Fee: On a "High Water Mark" success bonus basis: 10% up to 50% on quarterly increment of the net asset value.
 

N.B: Contrary to usual investment companies, Advantage European Management Ltd., always holds an important number of shares in this compartment.

ANNAPURNA MONTHLY PERFORMANCE

 
2003
$ Net 
%
2004
$ Net 
%
2005
$ Net
%
2006
$ Net
%
2007
$ Net
%
Start

 1,000

Jan 95

               
Jan 103,245 -2.17% 125,048 -2.66% 119,427 -13.18% 251,924 26.21% 172,998 1.63%
Feb 113,755 10.18% 133,866 7.05% 117,988 -1.21% 241,805 -4.02% 167,852 -2.97%
Mar 111,512 -1.97% 132,569 -0.97% 120,948 2.51% 210,834 -12.81% 178,323 6.24%
Apr 112,464 0.85% 125,537 -5.30% 111,238 -8.03% 212,781 0.92% 166,670 -6.52%
May 127,688 13.54% 121,308 -3.37% 140,952 26.71% 190,352 -10.54% 175,430 5.24%
Jun 117,131 -8.27% 107,624 -11.28% 155,969 10.65% 184,659 -2.99% 196,468 11.98%
Jul 124,556 6.34% 122,074 13.43% 206,924 32.67% 172,068 -6.82% 204,911 4.30%
Aug 123,332 -0.98% 117,680 -3.60% 231,013 11.64% 145,405 -15.50% 198,266 -3.24%
Sep 132,134 7.14% 118,303 0.53% 233,497 1.07% 168,910 16.16% 199,769 0.76%
Oct 128,011 -3.12% 126,973 7.33% 208,344 -10.77% 157,822 -6.56% 197,967 -0.90%
Nov 122,296 -4.46% 133,061 4.79% 216,825 4.07% 159,540 1.09% 214,474 8.34%
Dec 128,467 5.05% 137,555 4.38% 199,604 -7.94% 170,216 6.69%    

YTD

-

22.12%

- 9.33% - 48.19%   -8.15%    

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