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Contact:+33 (0)4 93 34 36 00

e: info@yfsol.comw: www.yfsol.com

YFSOL strategies 1-4 & YFSOL P Capital Protected StrategyTotal funds now circa EUR 9 million

NEW: YFSOL Income Strategy

YFSOL is pleased to announce the introduction of the YFSOLincome strategy which will have more of a focus on incomeproducing assets, as opposed to the pure long term capitalgrowth strategies of the investments in YF1, 2 and 3. TheYFSOL Income Strategy is suitable for those who haveaccumulated a lump sum but want to take an income from theirportfolio.

NEW Investment funds for the coming months toimprove Alternative Investment performance

The portfolios will soon see the purchase of a quartet of Pictetenvironmental themed funds focusing on water, agriculture,timber and clean energy - Alternative Investment Themesdesigned to broaden the investment exposure and present newgrowth opportunities.

The Victus European Student Accommodation fund investsin student accommodation throughout Europe. The investmentmodel of student accommodation provision has been verysuccessful in the UK, and there is potential for growth in thissector in Europe, where it has yet to be fully capitalised.

The Methexis Managed Receivables Fund provides shortterm finance to UK companies, which is loaned against invoicesreceived for services provided to larger companies. Thisprocess, known as ‘factoring’ allows the small company toimprove their short term finances by using their invoices as aguarantee to the loan. When the full amount of the invoice ispaid by the larger company, the Methexis fund benefits from thegain. The Methexis fund’s risk lies with the Governmentorganisation or larger private company where there is a low riskof default on payment.

The Kijani Fund provides finance in the process of tradingcommodities; in its case gold. Finance is provided to bring anorder of gold from mine, to the refinery and then on to a buyer

that has already been agreed. For providing finance, thefund takes a profit from the trade process. Following a factfinding trip to Portugal, further investment will also be madeinto the Sirius Commodity fund to provide additionaldiversity of returns in this sector.

VOYAGER NEWS Voyager Quarterly Review: : Antibes – April 2013

YFSOL 1-3 (Alternative investments)

March was an excellent month for YF1-3; all of which reportedpositive returns YF1 (+1.65%), YF2 (+2.13%), YF3 (+1.75%).

Lucent Land Fund, the Lanner Fund and the MontreuxCare Home Fund have remained the top performers of theportfolio. The last 12 months has also shown good performancefrom the Prestige Alternative Finance, Club Easy StudentAccommodation, Global Forestry and Fyfield MetalAssets (purchased in late February 2012). Both the studentaccommodation fund Coral and the agriculture fund CanadianIntegrated Agriculture also reported monthly and quarterlygains.

March saw currency markets stabilize which had previouslybeen working against the funds for a number of months (despitethe majority of underlying investments increasing in value.)

Following quarterly review from the investment managementteam, it was felt that YFSOL 2 ‘Pragmatic’ did not have a distinctasset allocation that was not already to be found in YF1 or YF3.We believe that investors can better achieve their goals moreefficiently with an allocation of YF1 and YF3. Therefore we areconsidering closing YFSOL 2 and reallocating those funds toYF1 and YF3.

YFSOL P Structured Investment

The YFSOL P Capital Protected Investment has a 5 year term,and following its launch in October 2012, the growth in the JPMorgan Mozaic index as of 31 March 2013 was 3.3%. Thestructure of the product guarantees to return the investors’capital (subject to counter-party risk), plus a minimum return of5% or 40% of the growth in the index; whichever is the higher.

We believe the product is currently on track to beat the minimummaturity return of 5%.

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ews VOYAGER NEWS Voyager Quarterly Review: : Antibes – April 2013

Life Settlement: Centurion Life Settlement Fund – Trading inthe death benefit of long term senior life policies.

Legal Financing: Axiom Legal Financing fund – Short termsecured lending to UK law firms.

Managed Futures: AMT SAV fund, AMT IQS fund andAlpinvesta Managed Futures Fund – Trading daily the rise andfall of over 180 of the world's commodity market investmentindices and currency sectors.

Commodity Trading: Centum Commodity Fund – Investing ina range of commodities using Risk Controlled return, utilising itsTrading model on the CO2 emissions market and tradingelectricity on the Nordic and European power market.

Precious Metals: FyField Metal Assets – Hold physical metalasset on our behalf in a secure vault in Zurich, Switzerland.

Agricultural Land: Braemar Agricultural Land – Invests in UKfarmland without the involvement of having to purchase andmanage land directly.

Agriculture: Canadian Integrated Agriculture – Invests inagricultural land, sustainable poultry production and processingin Canada.

Forestry: Global Forestry Fund – Direct and indirect investmentsin the forestry asset class.

Student Housing: Braemar Student Accommodation,Clubeasy Student Accommodation Fund and Coral StudentAccommodation Fund – Investing in student accommodationin the UK and Europe.

Real Estate: Lucent Strategic Land Fund – Land assets whichhave been allocated (or zoned) for residential development priorto the grant of planning permission. Lanner Car Parks Fund –Investing in car parking in commercial areas where there is a highratio of employees to parking spaces, a niche commercialproperty fund. Merlin Care Homes Fund – Purchasing existinghigh performance care facilities and developing new care homedevelopments supported by pre-negotiated occupancycontracts with governments and local authorities. Montreux CareHome Fund – Investing in the residential care sector in the UK.

Secured Lending: Prestige Alternative Finance Fund – A highlydiversified portfolio of rural, commercial and industrial loans andleasing agreements in the UK. Centum Bridge Fund – Focuseson secured lending to small and medium sized companies inScandinavia.

Current YFSOL 1–3 holdings

YFSOL 4 Dynamic Stockmarket Strategy

Risk grades: YFSOL 1 ConservativeAsset Allocation (as at 31/03/2013)

Performancesince launch + 26.57%last 3 months - 1.33%last 6 months - 3.27%last 12 months + 4.16%

YFSOL 2 PragmaticAsset Allocation (as at 31/03/2013)

Performancesince launch + 6.13%last 3 months - 1.69%last 6 months - 5.96%last 12 months - 0.76%

YFSOL 3 AggressiveAsset Allocation (as at 31/03/2013)

Performancesince launch + 4.07%last 3 months - 1.23%last 6 months - 6.07%last 12 months - 0.72%

YFSOL 4 Dynamic Stock MarketAsset Allocation (as at 31/03/2013)

Performancesince launch - 4.39%last 3 months + 4.92%last 6 months + 5.95%last 12 months + 8.19%

• Latin America• Other Emerging Markets• Eastern Europe • India Region• Africa/M East• Asia Region • Stars • China • Cash • Acrew

YFSOL 4 (Equities)

The diversified equity portfolio (YF4) has had another goodmonth, rising in value by +1.75%. The Berkshire Hathawayfund performed particularly well again with a monthlyperformance of (+2.15%).

YF4 has now returned +8.19% in the last 12 months deliveringpositive growth for 8 out of the last 9 months. Its unit price isnow the highest since January 2011.

Negative performance since inception is now only at -4.39%.As noted previously, the ‘since inception’ negative performancereflects the fact that many of the funds were bought at markethighs before significant asset value decreases in the stockmarket between December 2010 and September 2011.

• Legal Financing • Canadian Agriculture • Life Settlements • Asset backed lending • Commodity• Real Estate • Managed Futures • Student Accommodation • Cash • Forestry • Cash awaiting Investment

• Rare Earth Metals • Care Homes