Pure Capital announces launch of Pure Protection

Media Release

Pure Capital announces the launch of The Pure Protection Fund

LONDON/WELLINGTON, 11th June 2009- Pure Capital, a New Zealand based quant manager today announces the launch of The Pure Protection Fund. The fund aims to provide protection to wholesale investment portfolios during equity bear markets, whilst maintaining or improving returns in bull market environments.

The Pure Protection Fund will start trading on 1 July 2009 and will use only liquid, listed derivatives on recognized exchanges - primarily equity index and commodity derivative products. Pure Capital has been running a similar strategy via a managed accounts structure since 2007, generating cash returns of 79% in 2008, and 21% year to date in 2009*. The capacity for the new fund is $500m USD.

Anthony Limbrick, Chief Investment Officer of Pure Capital commented, *The only thing that is sure to rise in a bear market is correlation, and this is a complex problem for investment managers, even those with well diversified portfolios. At Pure our focus is on targeted non-correlated returns, and this lies at the core of The Pure Protection Fund - our new institutional grade product*.

The US Dollar-denominated Fund is being launched as a Channel Islands Stock Exchange-listed product, and will be distributed by Investment Manager, Argyll Investment Services Limited, an established Guernsey based asset manager with in excess of USD $200 million under management. The investment adviser to the fund is Pure Capital, currently based in Wellington and Christchurch, New Zealand, and in the process of developing a presence in London, UK.

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