Below are excerpts from the quarterly report of a private family office we manage. As previously mentioned (link), we have liquidated our previously managed portfolios and consolidated our assets in an investment vehicle. Results are only audited on an annual basis.

(Excerpt)

September 30, 2015

To the Shareholders of TwinPeak:

TwinPeak’s NAV (the “TWIN”) increased 0.05% versus a 10.93% loss for the iShares Core MSCI Pacific ETF (the “MSCI Pacific”) for the 3-month period that ended September 30, 2015. The following table compares the TWIN’s unaudited performance (after fees) with that of the MSCI Pacific for various periods ending September 30, 2015.

At September 30, 2015, the value of a SG$10,000.00 hypothetical investment in the company at its inception is worth SG$10,005 compared to SG$8,907 for the MSCI Pacific.

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