Tiger Value Fund A

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This product is a Luxembourg open-ended investment fund created as a Fonds Commun de Placement - Specialised Investment Fund ("FCP-SIF"). The investment objective of the Tiger Fund - Tiger Value Fund (the "Sub-Fund") is to seek an absolute return for investors, with a view to capital gain. The policies the Sub-fund will utilise to achieve such objective may vary but the Sub-fund will seek to achieve its investment objective principally by investing in undervalued publicly listed companies. The Sub-fund investments are likely to be, but not limited to, small- and mid-sized companies, where a number of issues may sub-optimize the company"s public market value (e.g. shareholder structure, financing structure, subsidizing of loss making businesses, etc.). As engaged and responsible shareholder, the Investment Advisor expect to have a direct dialog with the company as well as with other shareholders to impact positive change. The Sub-fund expects to assume positions in a limited number of companies. The principal focus of the investments will be Germany, Austria and Switzerland (collectively, the "DACH region"). The Sub-fund may also invest in companies outside the DACH region.

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