Bayview Asset Management (BVAM) is an independent boutique asset management firm built on secure business foundations.

BVAM, a 100% employee-owned independent investment firm, has established long-term, stable business foundations as cornerstone for an asset management boutique. We adhere to the current private capital structure in order to focus solely on investors' interests.

BVAM manages its own Japanese equity products, while its affiliated boutique investment partners in the United States manage U.S. equities and currency investments. We seek excess returns (alpha) as well as absolute returns through these products.

The fund manager takes full responsibility of performance, as BVAM does not believe in a team-oriented consensus approach. The separation of corporate management and investment management allows fund managers to concentrate on the markets and their portfolio.

BVAM is able to respond to diverse investor needs and deliver customized services as a boutique investment firm with full-fledged legal and compliance supports. We can offer, for example, a commingle fund by setting up privately-placed investment trusts or a managed account under discretionary investment contracts.

Since its establishment, BVAM has earned a solid reputation among domestic and overseas institutional investors including pension funds, banks, life and non-life insurances, and quasi-governmental organizations, which comprise over 85% of our assets under contract. This is accomplished through our scrupulous efforts and capability to meet clients' expectations by adopting stringent due diligence process, conducting reference verification, structuring investment schemes, and fulfilling disclosure requirements.

The above information is as of September 30, 2011.