Offshore Mutual Funds : Integris Funds - Class Q

SELECT A FUND:

U.S. SMALL CAP VALUE (CLASS Q)

As at March 31, 2008

Investment Objective
The Fund’s investment process utilizes an opportunistic approach that seeks to exploit inefficiencies and find undervalued companies that are also under followed to construct a portfolio that is typically a blend of traditional and/or deep discount value stock as well as undervalued growth stocks. The Fund seeks to outperform the Russell 2000 Value Index over a full market cycle.

The Sub-Advisor
Wells Capital Management was formed in 1996 and is located in San Francisco, California. The company has total assets under management of over $232 billion.

Top Ten Holdings
STOCK	% PORTFOLIO
Randgold Resources Ltd	5.2
Range Resources Corp	4.1
Hill Intl Inc	3.5
Champion Enterprises Inc	3.2
Global Industries Ltd	3.0
Intermec Inc	2.7
Geo Group Inc	2.4
Mcmoran Exploration Co	2.1
Willbros Group Inc	1.8
Annaly Capital Management Inc	1.8

Sector Allocation
SECTOR	% PORTFOLIO
Energy	19.1
Industrials	13.6
Other	12.8
Materials	11.9
Information Technology	10.8
Financials	9.4
Consumer Discretionary	9.2
Health Care	6.1
Cash Equivalents	4.1
Consumer Staples	2.1
Telecommunication	0.9

Note: The underlying data has been obtained from sources considered to be reliable but its accuracy and completeness cannot be assured. This evaluation is for informational purposes only and is not intended to be an offer, solicitation, or recommendation with respect to the purchase or sale of any security or a recommendation of the services supplied by any money management organization. Past performance is not a guarantee of future results.
* The Annual Return represents the gross yield of the model portfolio for the stated Sub-Advisor.

Lauriston House, Lower Collymore Rock
St. Michael, Barbados West Indies BB11000

TollFree: Tel 1.866.376.6230