Zentrum Capital Advisors Ltd (“ZCA”) is a fund manager based in Hong Kong. Our flagship fund, Zentrum Asia Opportunity Fund (“the Fund”) was established in 2010. We aim to achieve high quality risk adjusted return with an emphasis on capital preservation on an annual basis. At Zentrum, we invest alongside with our investors, we are rewarded through our performance and we ensure our portfolios are optimally sized. We have a unique investment strategy which evolves with the markets and we invest only when we see good opportunities. “Intelligence is the ability to adapt change" Stephen Hawking The two underlying philosophies that differentiate us are: Our emphasis on alignment of interests between managers and investors, and Our belief that investment strategies should be adaptive to different market conditions. Alignment of Interests A significant portion of the manager's personal wealth is invested alongside with our investors to ensure our interests are aligned with theirs. This would reduce the possibility of us taking undue risk for the reason of obtaining an upside return. In addition, we would be cautious with our own capital and capital preservation is one of our prime objectives. Another important benefit of this approach is that we will limit the size of our funds in such a way that we think it is optimal for generating return. Size could often be the limiting factor in generating good return and this is especially true in Asia where markets are less liquid. In other words, we will not try to grow for the purpose of generating fees. We are performance focused and we want high quality risk adjusted return on our capital. Adaptive Investment Strategy We believe markets are constantly evolving and we need to adapt our investment strategies according to the prevailing market environment. Indeed we have a unique set of investment strategies that are particularly tailored to the Asian markets. This approach has enabled us to use western financial technologies and apply them to capture opportunities in different market conditions in Asia. As we are relatively nimble in terms of fund size, we can use this flexibility to our advantage. It is important for us to constantly test and refine our strategies and understand our strengths. As we are not benchmarking ourselves to any index, we only invest in situations where we think we have an edge (i.e. high probability of winning) or else we are happy to sit with cash until opportunities arise. In conclusion, our principals can be summarized into 3 points: We aim to achieve high quality return with an emphasis on capital preservation We are performance focused and we ensure our funds are optimally sized We have a unique Adaptive Investment Strategy and we only take risks when we see opportunities