The Fund was incorporated on 20 December, 2000 in the British Virgin Islands (BVI) and is registered as a professional fund as defined under the Mutual Funds Act, 1996. The Participating Shares are divided into separate Classes, each of which has a different portfolio of investments or assets and different investment objectives.

The investment objective of the Admiralty Capital Class C is to seek capital appreciation by investing, directly or indirectly, in bonds, notes, and equities primarily in Asia, although investments may also be made in markets outside of Asia. The initial investments of the Class will be in shares and debt securities, including GDRs of companies listed in Asia including Japan, Singapore, Korea and Hong Kong.