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PV Capital launches Aggressive Macro Fund

PV Capital, founded by ex-Vega partner Pankaj Vaish, has
launched a new Aggressive Macro Fund.

Vaish was a partner at Vega Asset Management prior to launching
PV Capital in March 2000.

The fund trades the exact same strategy as PV Capital's current
Macro Fund but with a mathematical doubling of the position size
and thus a doubling of the leverage employed.

PV Capital stated: "The launch of the new fund is based on
numerous meetings with institutional investors. In the course of
these discussions it has become apparent that most investors look to
their macro investments to provide high returns, and are willing to
stomach increased volatility to achieve this goal."

Historically PV Capital's funds have delivered high risk-adjusted
returns (2.0 Sharp Ratio over the past three years) with low
volatility of 4.6% since inception.

Vaish said: "Many of the investors that we have been speaking with
have liked the strategy and fund, but have wanted a bit more
volatility and increased return potential. For these investors we
have launched a new fund that will trade at 2X the original Global
Macro Strategy and target 20% plus returns."

"For many investors the question was not do we like the manager
and the strategy, it was where does a low volatility manager who
takes directional bets fit within our risk structure, and which
portfolio can we put him in?"

With the launch of this new Aggressive Macro Fund, PV Capital
hope to alleviate this problem and substantially increase the assets
under management.

The new fund carries a two and twenty fee structure with monthly
liquidity and no lockup.

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