INVESTMENT PRINCIPLES

Deutsche Seewert has established an investment concept guided by the following principles:

• Targeting an adequate risk profile through a diversified shipping portfolio
  
  
• Actively managing the portfolio through sale and purchase of assets exploiting market opportunities to the maximum, clearly distinguishing itself from the fee-driven approach of classical shipping investments
  
  
• Aligning interests of investors/funds and DSW Asset Management as DSW will co-invest with meaningful amounts, hence participating in the success of the investments
  
  
• Constantly monitoring and benchmarking of externally contracted ship management services allowing for cost minimization and transparency
  
  
• Aspiring an average pre-tax return on paid up capital of 12% to 15% p.a. as an average long-term goal yet not without ambition to achieve substantially better
  
• Exiting after a determined numbers of years either through sale of single assets respectively the fund as a whole eventually through the capital markets or to individual investors