SOF 111- 1081 Southern Financial LLC (3) WHERE THE TRANSFER IS BY OPERATION OF LAW; (4) AS SPECIFIED IN SECTION 305A(5) OF THE SFA; OR (5) AS SPECIFIED IN REGULATION 36 OF THE SECURITIES AND FUTURES (OFFERS OF INVESTMENTS) (COLLECTIVE INVESTMENT SCHEMES) REGULATIONS 2005 OF SINGAPORE. BY ACCEPTING RECEIPT OF THIS DOCUMENT, A PERSON IN SINGAPORE REPRESENTS AND WARRANTS THAT HE IS ENTITLED TO RECEIVE SUCH DOCUMENT IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH ABOVE AND AGREES TO BE BOUND BY THE LIMITATIONS CONTAINED HEREIN. NOTICE TO RESIDENTS OF SWITZERLAND THIS MEMORANDUM AND ANY ACCOMPANYING SUPPLEMENT OR AMENDMENT DOES NOT CONSTITUTE AN ISSUE PROSPECTUS WITHIN THE MEANING OF, AND HAS BEEN PREPARED WITHOUT REGARD TO THE DISCLOSURE STANDARDS FOR ISSUE PROSPECTUSES UNDER ARTICLE 652A OR ARTICLE 1156 OF THE SWISS CODE OF OBLIGATIONS OR THE DISCLOSURE STANDARDS FOR LISTING PROSPECTUSES UNDER ARTICLE 27 FF. OF THE LISTING RULES OF THE SIX SWISS EXCHANGE LTD. OR THE LISTING RULES OF ANY OTHER STOCK EXCHANGE OR REGULATED TRADING FACILITY IN SWITZERLAND. THE INTERESTS WILL NOT BE LISTED ON THE SIX SWISS EXCHANGE LTD. OR ON ANY OTHER STOCK EXCHANGE OR REGULATED TRADING FACILITY IN SWITZERLAND. THE INTERESTS WILL NOT BE DISTRIBUTED IN OR FROM SWITZERLAND AS DEFINED BY THE SWISS FEDERAL ACT ON COLLECTIVE INVESTMENT SCHEMES ("CISA"), ITS IMPLEMENTING ORDINANCES AND THE APPLICABLE GUIDELINES OF THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY ("FINMA"), AS AMENDED. NEITHER THIS MEMORANDUM NOR ANY OTHER OFFERING MATERIALS RELATING TO THE FEEDER FUNDS WILL BE MADE AVAILABLE THROUGH DISTRIBUTION IN OR FROM SWITZERLAND. NEITHER THIS MEMORANDUM NOR ANY OTHER OFFERING MATERIALS RELATING TO THE FEEDER FUNDS, NOR THE GENERAL PARTNER THE FEEDER FUNDS NOR THE INTERESTS HAVE BEEN OR WILL BE FILED WITH, REGISTERED OR APPROVED BY FINMA OR ANY OTHER SWISS REGULATORY AUTHORITY. IN PARTICULAR, THE FEEDER FUNDS HAVE NOT BEEN AUTHORISED, AND WILL NOT SEEK AUTHORIS