Net Asset Value 2005

Jolimont Value Fund EURO per

  NAV Subscription
30.12.2005 106.91 107.44
29.12.2005 107.20 107.74
28.12.2005 106.99 107.52
27.12.2005 107.05 107.59
23.12.2005 107.05 107.59
22.12.2005 106.92 107.45
21.12.2005 107.01 107.55
20.12.2005 106.61 107.14
19.12.2005 106.59 107.12
16.12.2005 106.36 106.89
15.12.2005 106.32 106.85
14.12.2005 106.32 106.85
13.12.2005 106.27 106.80
12.12.2005 106.25 106.78
09.12.2005 106.34 106.87
08.12.2005 106.48 107.01
07.12.2005 106.83 107.36
06.12.2005 107.08 107.62
05.12.2005 107.13 107.67
02.12.2005 107.22 107.76

Jolimont Value Fund EURO per

  NAV Subscription
29.11.2005 105.93 106.46
28.11.2005 105.91 106.44
25.11.2005 106.09 106.62
24.11.2005 106.01 106.54
23.11.2005 106.09 106.62
22.11.2005 105.82 106.35
21.11.2005 105.90 106.43
18.11.2005 106.05 106.58
17.11.2005 105.73 106.26
16.11.2005 105.32 105.85
15.11.2005 105.52 106.05
14.11.2005 105.67 106.20
11.11.2005 105.76 106.29
09.11.2005 105.41 105.94
08.11.2005 105.26 105.79
07.11.2005 105.17 105.17
04.11.2005 104.84 105.36
03.11.2005 104.67 105.19
02.11.2005 104.42 104.94
01.11.2005 104.29 104.81

Jolimont Value Fund EURO per

  NAV Subscription
28.10.2005 103.19 103.71
27.10.2005 102.97 103.48
26.10.2005 103.34 103.86
25.10.2005 103.38 103.90
24.10.2005 103.50 104.02
21.10.2005 103.09 103.61
20.10.2005 103.20 103.72
19.10.2005 103.15 103.67
18.10.2005 103.45 103.97
17.10.2005 103.35 103.87
14.10.2005 103.28 103.80
13.10.2005 103.36 103.88
12.10.2005 103.52 104.04
11.10.2005 103.79 104.31
10.10.2005 103.70 104.22
07.10.2005 103.42 103.94
06.10.2005 103.68 104.20
05.10.2005 104.34 104.86
04.10.2005 104.31 104.83
03.10.2005 104.00 104.52

Jolimont Value Fund EURO per

  NAV Subscription
29.9.2005 103.60 104.12
28.9.2005 103.53 104.05
27.9.2005 103.32 103.84
26.9.2005 103.39 103.91
23.9.2005 102.86 103.37
22.9.2005 102.33 102.84
21.9.2005 102.55 103.06
20.9.2005 103.06 103.58
19.9.2005 103.04 103.56
16.9.2005 103.13 103.65
15.9.2005 102.87 103.38
14.9.2005 102.81 103.32
13.9.2005 102.68 103.19
12.9.2005 102.94 103.45
09.9.2005 102.87 103.38
07.9.2005 102.77 103.28
06.9.2005 102.66 103.17
05.9.2005 102.27 102.78
02.9.2005 102.03 102.54
01.9.2005 101.99 102.50

Jolimont Value Fund EURO per

  NAV Subscription
30.8.2005 101.71 102.22
29.8.2005 102.02 102.53
26.8.2005 102.00 102.51
25.8.2005 102.11 102.62
24.8.2005 102.42 102.93
23.8.2005 102.66 103.17
22.8.2005 102.79 103.30
19.8.2005 102.89 103.40
18.8.2005 102.82 103.33
17.8.2005 102.79 103.30
16.8.2005 102.82 103.33
15.8.2005 102.89 103.40
12.8.2005 102.74 103.25
11.8.2005 102.91 103.42
10.8.2005 103.04 103.56
09.8.2005 102.71 103.22
08.8.2005 102.64 103.15
05.8.2005 102.62 103.13
04.8.2005 102.75 103.26
03.8.2005 103.00 103.52

Jolimont Value Fund EURO per

  NAV Subscription
22.7.2005 102.80 103.31
21.7.2005 102.76 103.27
20.7.2005 102.80 103.31
19.7.2005 102.67 103.18
18.7.2005 102.41 102.92
15.7.2005 102.51 103.02
14.7.2005 102.43 102.94
13.7.2005 102.24 102.75
12.7.2005 102.03 102.54
11.7.2005 102.21 102.72
08.7.2005 101.92 102.43
07.7.2005 101.60 102.11
06.7.2005 101.75 102.26
05.7.2005 101.62 102.13
04.7.2005 101.65 102.16
01.7.2005 101.51 102.02

Jolimont Value Fund EURO per

  NAV Subscription
30.6.2005 101.43 101.94
29.6.2005 101.56 102.07
28.6.2005 101.45 101.96
27.6.2005 101.11 101.62
24.6.2005 101.43 101.94
23.6.2005 101.73 102.24
22.6.2005 101.83 102.34
21.6.2005 101.92 102.43
20.6.2005 101.41 101.92
17.6.2005 101.46 101.97
16.6.2005 101.59 102.10
15.6.2005 101.64 102.13
14.6.2005 101.76 102.27
13.6.2005 101.73 102.24
10.6.2005 101.49 102.00
09.6.2005 101.31 101.82
08.6.2005 101.15 101.66
07.6.2005 101.29 101.80
06.6.2005 101.14 101.65
03.6.2005 101.29 101.80
02.6.2005 101.48 101.99

Jolimont Value Fund EURO per

  NAV Subscription
30.5.2005 100.95 101.45
27.5.2005 100.71 101.21
26.5.2005 100.77 101.27
24.5.2005 100.43 100.93
23.5.2005 100.15 100.65
20.5.2005 100.12 100.62
19.5.2005 100.01 100.51
18.5.2005 99.58 100.08
17.5.2005 99.40 99.90
13.5.2005 99.46 99.96
12.5.2005 99.45 99.95
11.5.2005 99.25 99.75
10.5.2005 99.13 99.63
09.5.2005 99.62 100.12
06.5.2005 99.51 100.01
04.5.2005 99.53 100.03
03.5.2005 99.11 99.61
02.5.2005 99.06 99.56

Jolimont Value Fund EURO per

  NAV Subscription
29.4.2005 98.82 99.31
28.4.2005 98.72 99.21
27.4.2005 99.04 99.54
26.4.2005 99.01 99.51
25.4.2005 99.21 99.71
22.4.2005 99.15 99.65
21.4.2005 99.18 99.68
20.4.2005 99.13 99.63
19.4.2005 99.24 99.74
18.4.2005 99.10 99.60
15.4.2005 99.23 99.73
14.4.2005 99.61 100.11
13.4.2005 99.63 100.13
12.4.2005 99.68 100.18
11.4.2005 99.20 99.70
08.4.2005 99.21 99.71
07.4.2005 99.21 99.71
06.4.2005 99.10 99.60
05.4.2005 98.88 99.37
04.4.2005 98.71 99.20
01.4.2005 98.69 99.18

Jolimont Value Fund EURO per

  NAV Subscription
31.3.2005 98.85 99.34
30.3.2005 98.85 99.34
29.3.2005 98.63 99.12
24.3.2005 98.73 99.22
23.3.2005 98.61 99.10
22.3.2005 98.60 99.09
21.3.2005 98.81 99.30
18.3.2005 98.92 99.41
17.3.2005 98.83 99.32
16.3.2005 98.84 99.33
15.3.2005 99.34 99.84
14.3.2005 99.33 99.83
11.3.2005 99.28 99.78
10.3.2005 99.52 100.02
09.3.2005 99.48 99.98
08.3.2005 99.73 100.23
07.3.2005 100.08 100.58
04.3.2005 99.79 100.29
03.3.2005 100.00 100.5'
02.3.2005 99.83 100.33
01.3.2005 100.00 100.50