The purpose of the Funds is to provide investors with an opportunity to participate in a professionally managed investment portfolio comprising securities of large globally diversified publicly traded companies, as well as bonds, debentures, debt instruments, precious metals and currencies that have longer-term appreciation potential.

Investment Objectives

The objective of the Argyle Global Family of Funds is to achieve maximum capital appreciation and income for its investors commensurate with reasonable risk through investment in a diversified portfolio. The Funds will strive for above average long-term growth and income by allocating the Funds’ assets to a limited number of select investments. The assets of the Funds may be invested in securities of globally diversified publicly traded companies, as well as bonds, debentures, debt instruments, precious metals and currencies that have potential for longer-term appreciation.

The investment strategies and objectives of each of the Funds is designed to offer shareholders an opportunity for a high degree of protection of principal and a superior return for their investment.

Investment Manager

The Investment Manager, Permanent Value Asset Management Ltd., is based in Barbados. The Investment Manager is a registered Investment Advisor with the Cayman Island Monetary Authority. Its clients include high net worth individuals as well as various mutual funds.

The Investment Manager will invest the assets of the Funds in accordance with the investment objectives and policies of the Funds as well as provide overall investment management services to the Funds. The investment manager may utilize the services of an advisor from time to time.

Credit Advisor

New Solutions Financial (III) Corporation, a corporation formed under the laws of the Province of Ontario, Canada with its head office at 4230 Sherwoodtowne Blvd., Suite 300, Mississauga, Ontario L4Z 2G6. The Credit Advisor is a privately held commercial finance company whose management has considerable experience in the asset backed lending business. (Note: Please make the words “New Solutions” so that you can click on it and go to their website – www.newsolcapital.com)

Structure and Management

Argyle Funds SPC Inc. (the “Company”) was duly incorporated in accordance with the provisions of the Companies Law (2004 Revision) and regulated as an administered mutual fund under the Mutual Funds Law (2003 Revision) of the Cayman Islands on the 17th December, 2003. On 29 October 2004 the Company became registered as a Segregated Portfolio Company under the laws of the Cayman Islands. On 1 December 2004, the Company ceased to be registered as an administered fund and became a regulated fund in accordance with Section 4(3) of the Mutual Funds Law (2003 Revision) of the Cayman Islands.

The Company has created 10 Funds, each of which is established as a Segregated Portfolio. Seven (7) Funds (Class M to S) will issue Shares and three (3) Funds (Classes J to L) will issue fixed rate Notes. The proceeds from the issue of each respective Class will constitute Segregated Portfolio Assets in respect of the Fund in which they are issued and will be maintained by the Company as a separate pool of assets attributable exclusively to that Fund.

Diversification

The Funds will be well diversified in order to minimize risk. This diversification will be across different industry sectors and markets as well as the geographical markets which the Funds will invest in. However, in order to maintain the flexibility to capitalize on investment opportunities as they arise, the Funds’ assets are not subject to any specific diversification requirement. As a result, the proportion of the Funds’ portfolios in any security, industry sector, geographic region or market can change at any time based on the Manager’s assessment of the markets generally and specific investment opportunities in particular.

Pricing

The Share price of the Funds are based upon and determined by reference to the Net Asset Value (“NAV”) of each Fund. The NAV is calculated on each Valuation Day. The Subscription Price is the Net Asset Value per Share, together with any Initial Placement Charges applicable at the time of subscription. The Redemption Price is the Net Asset Value per Share, less any Redemption charges, if applicable, as calculated in accordance with the terms of the Private Offering Memorandum.

Currency of the Funds

Each Fund will use, unless specifically stated as otherwise, United States Dollars as its base currency. All purchases, redemptions, prices, Net Asset Value, statements and reporting letters are quoted in US Dollars (USD) unless specifically stated otherwise.

Taxation

The Funds are not subject to any income taxes in the Caymans, or elsewhere. However, if the Funds invest in certain jurisdictions where withholding taxes apply, then any dividends and interest earned from these investments will be subject to the withholding taxes of that jurisdiction. When investors redeem their Shares in any of the Funds, they may or may not be subject to either income or capital gains taxes in their home countries. Each Account Holder will be required to include, in computing income or loss for tax purposes for a taxation year, his or her share of the income or loss of the Fund, whether or not he or she has received a distribution from the Fund.

Reporting

Whenever a purchase is made, the investor will receive a Purchase Confirmation showing the number of shares purchased, the price per share, and the amount of the purchase. Thereafter, the investor can expect to receive quartely statements showing the amount of interest receivced for that period.