Carlisle Management Company Absolute Return Fund III

The Absolute Return Fund III’s investment strategy is to purchase carefully selected life insurance policies that are beyond the contestability period. The Fund seeks to build a large diversified portfolio across numerous sectors, including but not limited to carrier concentration, expected maturities, gender, age, impairment, geography and face value. In order to properly implement a buy and hold to maturity strategy, the fund seeks to isolate mortality risk and build a large sample size. The fund uses detailed actuarial and financial analysis to ensure that policies purchased are accounted for longevity risk as well as other variables of the actuarial profile. The primary risk in the strategy remains to be longevity, which creates an investment with limited correlation to the financial markets.