Wingate Technology Performance Fund LP

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Why Choose a Technology Performance Fund?

The reasons to invest in the Wingate Technology Performance Fund are many. With the Performance Fund, you can expect much higher expected investment returns over a medium to long-term horizon. These returns will continue whether the market goes up or down because of the ability to go short in down markets.

The Wingate Technology Performance Fund is dedicated to risk management, and will use a number of techniques to control risk, such as:

	Selective hedging techniques (long and short positions)
	Limit losses by using stop loss
	Selective trading in equity options
	Mergers & acquisitions arbitrage
	Absolute return-based compensation and significant personal wealth commitment as lead investor

Compensation for Wealth Creation

Performance fees are only paid if wealth is created. Performance fees are only paid if returns exceed:

	Risk free fate of return, represented by the 3 month Canadian Treasury Bill yield (approximately 3.0% currently)
	High Water Mark

High Water Mark

The High Water Mark is the highest previous value of the Fund for which performance fees were calculated and paid. If no previous performance fees were paid, then the original investment value, adjusted for additional contributions and redemptions, is taken as the high water mark. If the NAV of the fund is below the high water mark, the General Partner does not earn performance fees.

To summarize the compensation plan, the investment manager is highly motivated to achieve the following objectives:

	Exceed the Hurdle Rate - defined as the 3 month risk free rate of return (3 month Treasury Bill yield)
	Exceed the previous High Water Mark

In this manner, the investment manager only receives performance compensation when the limited partners wealth position (measured as NAV) has increased and at an annualized rate that exceeds the hurdle rate.