Offshore Mutual Funds : J&T Funds - Class R

SELECT A FUND:

GLOBAL FIXED INCOME (CLASS R)

As at March 31, 2010

Investment Objective
The Fund aims to provide income and to protect and maximize the real asset value of its investments in terms of their international purchasing power by management and diversification of currency exposure and investment in fixed interest bearing securities of varying maturities. The fund invests in high quality government and corporate bonds predominantly denominated in US$, Yen, Sterling and Euro.

The Sub-Advisor
Brandywine Asset Management currently manages assets in excess of $28 billion¹ on behalf of private investors, corporations and other institutions.

Top Ten Holdings
BOND	% PORTFOLIO
New South Wales Treasury Corp 5.50% 03/01/17	5.94
France Gov’t Bond Oat 4.0% 10/25/38	5.46
Poland Gov’t Bond 5.30% 10/25/17	5.32
Canada Gov’t Bond 6.00% 06/01/11	4.63
Korea Treasury Bond 5.80% 09/10/18	3.96
Queensland Treasury Corp 6.00% 10/14/15	3.38
United Kingdom Gilt 4.3 03/07/36	3.24
Sweden Gov’t Bond 5.5 10/08/12	2.91
Malaysia Gov’t Bond 3.80% 04/28/11	2.66
Malaysia Gov’t Bond 3.70% 06/15/12	2.54

Sector Allocation
COUNTRY	% PORTFOLIO
United States	50.4
Australia	12.2
Other	11.2
United Kingdom	5.7
France	5.4
Malaysia	5.3
Poland	5.2
New Zealand	4.6

Portfolio Characteristics
Mod Duration		7.56
Avg. Yield		5.80%
Risk Level		Low/Med

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