1. Majesty Fund

2. Presentation Flow Trading Philosophy and Strategy 1 Behavior Bias 2 Analysis of selected trade 3 Future Prospective 5 Relative and Absolute Performance 4

3. Majesty Fund Trading Philosophy 11 Market is NOT efficient ! 22 Believe in Value Investing 33 Believe in Momentum Investing

4. Majesty Fund Trading strategy

5. Majesty Fund Behavior Bias

6. Majesty Fund Adjustments

7. Majesty Fund Short-term day trading

8. Majesty Fund 0363 – SHANGHAI INDUSTRIAL HOLDINGS LIMITED

9. Majesty Fund 0363 – SHANGHAI INDUSTRIAL HOLDINGS LIMITED

10. Majesty Fund 0363 – SHANGHAI INDUSTRIAL HOLDINGS LIMITED However, there is a series of bad news.

11. Majesty Fund 0363 – SHANGHAI INDUSTRIAL HOLDINGS LIMITED

12. Majesty Fund 0005 HSBC 4/2 monthly statement, new stocks released 17/2 announcement of fourth quarter results

13. Majesty Fund Total Profit: $936.62 + $5158.05 = $6094.67 On 16/4, we sold at the price of HK$84.55 On 8/4, we reinvested at the support price HK$79.55

14. Majesty Fund Select Trade 3- Speculation (8173.HK) Use at most 30% of money on speculative trading Ride on moment with the help of technical analysis Cut loss strictly at 15% Bet on stocks with highest beta

15. Majesty Fund Selected Trade- Technical Analysis K line cross from below over the S line Sudden Increase in Turnover => We wait for rising trend

16. Majesty Fund Select Trade 3- Speculation Buy at 0.061 Increase stakes at 0.073 Start profit taking at 0.091 Lessons learnt When making profit, withdraw part of the money out and let the remaining run for itself.

17. Majesty Fund Relative performance Majesty Fund HSI

18. Majesty Fund Relative performance Benchmark:Hang Seng Index Outperform the benchmark! MeasurePortfolioBenchmark Sharpe Ratio2.282.654 Treynor Ratio2.9570.5437 Return10.92%10.37% Volatility12.6420.64

19. Majesty Fund Market Efficiency

20. Majesty Fund Market Efficiency

21. Majesty Fund Our perspective in 2010

22. Majesty Fund Late Performance Huge return Rate of return in the last month = 15% Constant return Highest among all funds Rate of return of HSI = 7.4%

23. Majesty Fund We learned from mistakes We invest in our strongest We have good market sentiment Fact!! These make Majesty Fund the best performed PROVEN

24. Majesty Fund The End Thank you very much for your attention!