IPO - L1 Long Short Fund Limited, page-14

I don’t recall a supplementary prospectus being mentioned in the original prospectus. Maybe it was somewhere in the fine print. It was mentioned in response to a question at one of the road shows and I get the impression it is an opportunist response to garner more fees. Some of the more successful funds are quite small to allow them to access more opportunities in the small to medium sector. Certainly a fund manager can be far more nimble with less dollars to play with. 1.3 billion! Seems like it will be as slow as a plumber going for his tools to get that lot invested. Very disappointing to those who expected a mid-size more nimble fund and it makes you wonder whose nest they are feathering. Just an opinion.