Offshore Mutual Funds : J&T Funds - Class V

SELECT A FUND:

EMERGING MARKETS (CLASS V)

As at March 31, 2010

Investment Objective
The Fund seeks to outperform the MSCI Emerging Markets Free Index over a full market cycle while maintaining below benchmark risk. The Fund seeks long-term capital appreciation by investing in companies operating in the emerging markets or whose shares are listed on the stock markets of such countries.

The Sub-Advisor
Lazard Asset Management is a diversified, global investment platform using a research-driven investment process focusing on financial productivity and valuation. Lazard has over $116.5 billion¹ in assets under management and offices located throughout the world.

Top Ten Holdings
STOCK	% PORTFOLIO
Usimans Sa Pfd A Spons	4.2
Taiwan Semiconducter Mfg	3.8
Shinhan Financial Group Co	3.7
Bank Mandiri Tbk Unspon	3.4
America Moivl S.a.b De Cv	3.1
Banco Do Brasil Sa	3.0
Commercial Intl Bk Adr	3.0
United Tractors Unspon Adr	3.0
Akbank Turk Anonim	3.0
Lukoil Oil Spons Adr	2.9

Sector Allocation
SECTOR	% PORTFOLIO
Energy	19.9
Financials	15.8
Market Index Securities	12.6
Telecommunication	11.6
Materials	10.6
Information Technology	9.1
Other	7.1
Consumer Discretionary	5.3
Miscellaneous Equity	4.8
Consumer Staples	3.2

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 fund’s actual return net of all monthly fees and expenses.
¹ AUM as of December 31, 2009.

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

TollFree: Tel 1.866.376.6230