Monthly Performance as at 28 February 2010

Unit price: 82.12 (unit price at inception*: 70.08 pence)

The Strategic Value Fund was previously known as the Moidart Fund. Kennox Asset Management took over the management of the Fund and changed the name to the Strategic Value Fund on 30 April 2009. At that point, the unit price of the Fund was 70.08p. Prior to Kennox Asset Management’s tenure, the Fund had been managed in a very different style, and as such we do not quote performance prior to 30 April 2009.

Prior to launching the Strategic Value Fund, KAM’s investment team ran a similar fund in Australia under the name Contrarian Global Asset Management (“CGAM”).  For information about prior performance, please contact us directly:  enquiries@kennoxam.co.uk.

KAM’s investment team comment on performance quarterly.  For the most recent commentary, please see the latest quarterly report that can be found within the "Reporting" section of the website.

The Strategic Value Fund is priced weekly.  For the most up to date unit price, please click here.  The unit price for the Strategic Value Fund can be found within the list of funds administered by “S&W Fund Administration”.  This link will open a new tab in your internet browser with content provided by the Investment Management Association.

* Inception date: 30 April 2009