The summary of investment portfolio may change due to ongoing portfolio transactions of the investment fund. A quarterly update is available. For more information, please contact us at advice@altamira.com or 1.800.263.2824.

Total net assets as at March 31, 2008	$65.9 Million
Total holdings	55

Top 25 holdings

	%NAV

Cash & Other Assets	5.66
BHP Billiton Ltd.	5.57
Singapore Telecommunication Ltd.	4.95
Hengan International Group Co. Ltd.	4.09
Nintendo Co. Ltd.	3.59
Esprit Holdings Ltd.	3.59
Cochlear Ltd.	3.32
QBE Insurance Group Ltd.	3.24
Woodside Petroleum Ltd.	3.07
Kurita Water Industries Ltd.	2.62
Komatsu Ltd.	2.46
Australia and New Zealand Banking Group Ltd.	2.40

	%NAV

AXA Asia Pacific Holdings Ltd.	2.33
Rio Tinto Ltd.	2.33
East Japan Railway Co.	2.32
Macquarie Group Ltd.	2.25
Takeda Pharmaceutical Co. Ltd.	2.20
Japan Tobacco Inc.	2.18
Astellas Pharma Inc.	2.08
Terumo Corp.	2.00
Benesse Corp.	1.99
Toyota Motor Corp.	1.95
National Australia Bank Ltd.	1.95
Keyence Corp.	1.92
KDDI Corp.	1.85

Top 25 Holdings as % of Total Portfolio	71.91

Weightings by country

% of Portfolio

Japan

45.86

Australia

29.99

Hong Kong

12.02

Cash & Other Assets

5.66

Singapore

4.95

South Korea

1.13

USA

0.33

Taiwan

0.06

Total weightings by country

100.00

Sector Allocation

% of Portfolio

Financials

21.14

Consumer Discretionary

12.22

Industrials

9.84

Materials

9.78

Consumer Staples

9.64

Health Care

9.60

Information Technology

8.62

Telecommunication Services

6.81

Cash & Other Assets

5.66

Utilities

3.62

Energy

3.07

Total sector allocation

100.00

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