financial pacific opportunity fund

Proposed Portfolio

Financial Pacific Opportunity Fund [0100803]

Prepared for: Financial Pacific

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Una entidad regulada y supervisada por la Comision de Valores

Prepared for Financial Pacific Proposed Portfolio

Congratulations! You have created a CrystalProposal™ that meets your investment objectives.

Please do not hesitate to contact us with any questions relating to this proposal. Once you are ready

to implement this portfolio, please sign and submit the attached Portfolio Supplement Signature

Page along with your completed Subscription Documents, which can be found on our website under

the Account Information / Documents tab.

Table of Contents

i. Proposed Portfolio Summary

ii. Proposed Portfolio Analytics

· Market Benchmarks

· Portfolio Exposure Allocations

· Cumulative Growth

· Coefficient of Determination

· Beta Coefficients

· Alpha Coefficient

· Information Ratio

· Returns Histogram

· Rolling Returns and Drawdown

· Rolling Volatility and Character Breaks

· Rolling Sharpe Ratio

· Factor Composition

· Liquidity Schedule

· Excess Returns

· Excess Volatility

· Non Ordinary Behavior

iii. Portfolio Supplement Signature Page: Please sign and submit this document, so we can

implement your customized hedge fund portfolio.

iv. Portfolio Liquidity Appendix: This appendix explains the liquidity of the funds within your

proposed portfolio.

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Proposed Solution:

· . 12.37 % Model Expected Return

· . 5.91 % Model Expected Volatility

Proposed Allocations:

· . 15.00 % THIRD POINT Fund

· . 15.00 % DE SHAW Oculus Fund

· . 15.00 % SAC Capital Fund

· . 15.00 % PAULSON Advantage Fund

· . 15.00 % CAXTON Global Fund

· . 15.00 % REDWOOD Fund

· . 10.00 % TUDOR Tensor Fund

Return Objective Guidelines:

Which of the following best describes the portfolio's return objective?

[ ] Conservative [X] Moderate [ ] Aggressive

Risk Management Guidelines:

Which of the following best describes the portfolio's risk profile?

[ ] Conservative [X] Moderate [ ] Tolerant

Investment Period Guidelines:

Which of the following best describes the portfolio's investment period?

[ ] 1 Year [X] 1 to 3 Years [ ] 3 to 5 Years

Allocation Specific Portfolios:

The following minimum exposure limits have been specified as portfolio guidelines:

· . 15.00 % THIRD POINT Fund

· . 15.00 % DE SHAW Oculus Fund

· . 15.00 % SAC Capital Fund

· . 15.00 % PAULSON Advantage Fund

· . 15.00 % CAXTON Global Fund

· . 15.00 % REDWOOD Fund

· . 10.00 % TUDOR Tensor Fund

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Markets

· .(1) S&P 500 Index

· .(2) US 2 Year Note

· .(3) MSCI World Index

· .(4) Dow Jones Industrial Average

· .(5) HFRI Fund of Funds Index

· .(6) Barclay Distressed Securities HF

Index

· .(7) DJCS Managed Futures HF

Index

· .(8) DJCS Long/Short Equity HF

Index

· .(9) DJCS Equity Market Neutral HF

Index

This graph shows the return and volatility of

the portfolio compared to market

benchmarks.

This pie chart shows the current allocations of

the portfolio. The allocations change over

time due to capital activity and performance.

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This graph compares the returns of the

investment to one or more benchmarks. The

cumulative return shows the compounding

effect of an investment over the specified

time period.

Factors

· .Barclay Distressed Securities HF

Index

This graph shows the Coefficient of

Determination (or R2)

between investments

over the specified time frame. The coefficient

of determination is a statistic that provides

information about the strength and direction

of the relationship between one or more

factors.

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This graph shows the Beta Coefficients

between investments over a specified time

frame. When analyzing betas for more than

one factor, each will be displayed using a

different color, at both the 12-month and

36-month intervals. Beta describes how the

expected return of an investment is correlated

to a comparable investment, typically

an index or an industry benchmark.

Factors


Index

This graph shows the Alpha Coefficient, in a

multivariate regression model, between

investments over the specified time period.

Alpha is a measure of excess, risk-adjusted

returns. Alpha compares an investment's

risk-adjusted performance to a benchmark

index. The excess return of the portfolio

relative to the return of the benchmark index

is the alpha.

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Factors


Index

The Information Ratio measures the

investment's ability to generate excess returns

relative to a benchmark (i.e., it's alpha) but

also attempts to identify the consistency by

dividing the alpha by its tracking error (i.e.,

the standard deviation of the difference

between returns of the investment and the

returns of the benchmark index). The higher

the information ratio, the more consistently

the investment delivers alpha.

This graph shows a statistical analysis of the

underlying factors which exist in the current

portfolio. The porfolio's Factor Composition

will change over time depending on the

change in allocations and changes

in strategies employed by the underlying

investments.

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Statistics

· .From: January 2001

· .To: January 2011

· .78.51 % Percent Months Positive

· .14.77 % Mean

· .18.08 % Median

· .6.05 % Sample Std. Deviation

· .2.08 Sharpe Ratio

· .8.47 Sortino Ratio

· .-0.42 Asymmetry (Skewness)

· .0.84 Peakedness (Kurtosis)

· .431.46 % Cumulative Value

A histogram breaks down the monthly returns

for an investment into different return

distributions for the specified time

period. This chart can be used to visualize the

consistency of returns for the investment.

The higher the bell curve (the line drawn by

the Probability Density Function), the more

consistent the returns. Note: annualized

returns are used to calculate all statistics

above.

This chart shows the annualized rolling

returns and drawdowns of the investment

over the specified time period. Rolling

returns show how the annualized return

change from period to period. Drawdowns

show the percentage of losses incurred from

a previous high and the time it took the

investment to recover those losses. The

investment has recovered its losses when the

drawdown equals zero.

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This graph shows the rolling volatility over the

specified time period. Rolling volatility refers

to the annualized standard deviation of an

investment's returns which may be used to

quantify the degree of risk or expected

changes over time. This graph also depicts if

the investment has experienced any outliers

in the dataset, illustrated by the red

lines. Interpretation of statistics derived from

data sets that include outliers may be

misleading.

This graph shows the Rolling Sharpe Ratio

over the specified time period. The Rolling

Sharpe Ratio measures the annualized excess

return (or Risk Premium) per unit of risk of an

investment. The Rolling Sharpe Ratio is used

to characterize how well the return of an

investment compensates the investor for the

amount of risk taken over time.

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This chart shows the “best available” liquidity

over time, assuming normal market

conditions. The actual liquidity may be

different as investments may be impacted by

liquidity events such as gates, lockups,

suspensions and side pockets. Liquidity is

dynamic in nature and therefore this schedule

will change over time.

This graph compares the excess returns of

one investment over another in the specified

time period. This analysis is measured over

both 12-month and 36-month rolling

periods.

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This graph compares the excess volatility of

one investment over another in the specified

time period. Volatility most frequently refers

to the standard deviation of the continously

compounding returns of a financial

instrument over a specified time period and is

often used to quantify the risk of one or more

investments. Excess volatility is used to

compare the excess risk premium of one

investment over another. This analysis

is measured over both 12-month and

36-month rolling periods.

This graph compares the excess Sharpe ratio

of one investment over another in the

specified time period. The Sharpe ratio is a

measure of the excess return (or Risk

Premium) per unit of risk in an

investment. This analysis is measured over 12

month and 36 month rolling periods.

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This graph shows the behavior of the

investment compared to a benchmark during

"non-ordinary periods" which occurred in the

specified time period. Non-ordinary

periods are data subsets that have a high

probability of containing random variables

(outliers).

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PORTFOLIO SUPPLEMENT SIGNATURE PAGE

IMPORTANT DISCLOSURE: THIS PROPOSED PORTFOLIO DOCUMENT CONTAINS INFORMATION WITH RESPECT TO THE PORTFOLIO AS OF THE DATE

HEREOF. THIS DOCUMENT PROVIDES CERTAIN ADDITIONAL DETAILS AND ANALYSIS IN ORDER TO ATTEMPT TO PROVIDE INCREASED

TRANSPARENCY WITH RESPECT TO THE PROPOSED PORTFOLIO (THE "PORTFOLIO"). NOTWITHSTANDING THE FOREGOING, NONE OF THE TERMS AND

CONDITIONS IN THIS DOCUMENT SHALL SUPERCEDE THE TERMS AND CONDITIONS SET FORTH IN THE FUND’S OFFERING MEMORANDUM, LLC

AGREEMENT/ARTICLES OF ASSOCIATION, SUBSCRIPTION DOCUMENTS AND OTHER OFFERING DOCUMENTS (COLLECTIVELY, THE "OFFERING

DOCUMENTS"). ACCORDINGLY, SUBSCRIBER MUST READ THIS DOCUMENT IN CONJUNCTION WITH THE OFFERING DOCUMENTS.

Subscriber confirms that the Portfolio is appropriate for Subscriber. In particular, Subscriber has carefully considered the investment objectives, liquidity

needs and risk objectives of the Portfolio. As described in the Offering Documents, the Fund may treat redemptions by Subscriber in a parallel manner

and subject to the same limitations that apply to the Exposures targeted by the Portfolio. In addition to the Risk Factors described in the Offering

Documents, Subcriber understands that the Portfolio constructed by Subscriber may result in a high concentration in certain strategies, positions or

particular Exposures. The Fund does not encourage concentrated Portfolios. Subscriber understands that PAST PERFORMANCE IS NOT INDICATIVE OF

FUTURE RESULTS. Subscriber understands that the Fund will make commercially reasonable efforts to execute the allocations in a timely manner but

allocations are not guaranteed due to factors such as capacity limitations, time constraints or other limitations that prevent the execution of such

allocations.

By signing the below, Subscriber agrees to implement the Portfolio for the next available Subscription Date under the terms and conditions set forth in

the Offering Documents.

1. SUBSCRIBER SIGNATURE

Signature of Authorized Signatory: ______________________________________________

Name of Signatory: __________________________________________________________

Title of Signatory: ____________________________________________________________

Date: ______________________________________________________________________

SECONDARY SIGNATURE (if applicable):

Signature of Authorized Signatory: ______________________________________________


Title of Signatory: ___________________________________________________________

Date: ______________________________________________________________________

2. ACKNOWLEDGED BY THE FUND

Signature of Authorized Signatory:_____________________________________________


Title of Signatory:__________________________________________________________

Date: ____________________________________________________________________

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LIQUIDITY APPENDIX As per the Offering Documents, the redemption terms or liquidity applicable to each Customized Portfolio will be determined by the

Available Liquidity of the Exposures targeted by such Portfolio; provided, however, that the Fund receives at least 15 days’ prior written

notice to the notice period required by each targeted Exposure. Attached is a summary of the Available Liquidity for your Customized

Portfolio. Notwithstanding the below, the Fund and each Portfolio may treat redemptions by Investors in a parallel manner and subject

to other limits these investments may impose.

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THIRD POINT Fund

Liquidity Terms

CrystalResearch Report – Updated January 4, 2011

The Fund describes its liquidity terms as follows:

"A Shareholder has the right, upon at least 60 days’ prior written notice, to redeem all or any portion of its Shares

commencing as of the last day of the fourth full fiscal quarter following the issuance of the Shares being redeemed

(the "Lock Up Period"). Redemptions permitted during the Lock Up Period are conditional upon a redemption fee

being paid to the Fund equal to 5% of the redemption proceeds. Any redemption proceeds thereafter will no longer be

subject to a redemption fee. After the Lock Up Period, redemptions will be permitted, provided a timely redemption

request has been made as of the last day of any interim calendar quarter; provided, however, that aggregate redemptions

from the Fund in any calendar quarter (not to exceed two consecutive calendar quarters with respect to a Shareholder) will

be limited, at the Fund's discretion, to 20% of the Fund’s Net Asset Value as of the first day of the calendar quarter (the

“Gate”). If redemption requests during any such quarter exceed the Gate, the Shareholders requesting such redemptions

will be permitted to redeem Shares up to the 20% maximum on a pro rata basis. If any Shareholder is prohibited from

redeeming Shares as of a Redemption Date as a result of the operation of the Gate, the Shareholder will be deemed to have

made a redemption request with respect to the excess amount for the immediately following Redemption Date and will be

subject to the imposition of the Gate, if applicable, for that subsequent Redemption Date. If a Shareholder has been subject

to the Gate for two consecutive calendar quarters, that Shareholder will not be subject to the Gate, if any, for the next

following calendar quarter, but the amount of that Shareholder’s redemption in such calendar quarter will be counted

towards the Gate when calculating whether a Gate will be imposed for such calendar quarter. If a Shareholder is subject to

the Gate as of an Annual Redemption Date (to which a Redemption Fee would not apply), no Redemption Fee will be

charged on such redemption request rolled forward to the next interim quarterly Redemption Date (to which a Redemption

Fee would otherwise apply).

The Fund may invest up to 15% of its net assets in illiquid investments (including not more than 10% of its net assets in

Special Investments), calculated at the time any investment is made. For purposes of this percentage limit, illiquid

investments means investments that the Manager believes lack a readily ascertainable market value, but does not include

investments which may not be actively traded and/or may have legal or contractual limitations on sale, if the Manager

believes such investments have a readily ascertainable market value. Redemptions may be subject to an audit withholding."

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DE SHAW Oculus Fund

Liquidity Terms

CrystalResearch Report - Updated February 2, 2011

The Fund summarizes its liquidity terms as follows:

“At the end of any calendar quarter, an investor may withdraw all of the capital attributable at the time of withdrawal to its

interests (after giving effect to any accumulated appreciation, depreciation, distributions, charges, fees, and expenses

relating to such capital contributions), unless the sum of all investors' withdrawal requests for that quarter exceeds 1/12th

of the total capital of the Fund attributable to member interests (the fund-wide "gate” amount), in which case the total

amount available for withdrawal by all investors may be reduced to such gate amount. In such event, each investor that

wishes to withdraw more than the reduced amount allocated to it for a particular withdrawal date must submit a new

withdrawal request for a subsequent withdrawal date, and any such new withdrawal request will not be given priority by

reason of such reduction. All withdrawals from the Fund require at least 90 days' prior written notice. Redemptions may be

subject to an audit withholding."

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SAC Capital Fund

Liquidity Terms

CrystalResearch Report - Updated December 3, 2010

The Fund describes its liquidity terms as follows:

“A Shareholder may request a redemption of its Shares in accordance with the following: (i) as of the last day of any

calendar quarter, up to one quarter of such Shares by net asset value, upon 45 days’ prior written notice to the Fund (such

notice, a “Partial Redemption Notice”) or (ii) all of such Shares, upon 45 days’ prior written notice to the Fund specifying a

complete redemption (such notice, a “Complete Redemption Notice”), in four consecutive quarterly installments beginning

as of the last day of any quarter. Approximately one quarter of such fully redeeming Shareholder’s Shares by net asset

value, will be redeemed as of the last day of the quarter for which proper notice was provided, approximately a third of

such remaining Shares, by net asset value, will be redeemed as of the last day of the following quarter, approximately half

of such remaining Shares, by net asset value, will be redeemed as of the last day of the next following quarter and the

remainder of such Shares will be redeemed as of the last day of the third following quarter. The Fund will estimate such

quarterly redemption amounts as of the redemption date, in its sole discretion. Redemptions may be subject to an audit

withholding."

PAULSON Advantage Fund

Liquidity Terms

CrystalResearch Report - Updated November 23, 2010


“Redemption of Shares is permitted quarterly, as of the close of business on the last day of the month preceding each three

(3) month anniversary of the date the Shares acquired (each such date, a “Redemption Date”). (For example, for Shares

acquired on January 1, 2009, the first Redemption Date will be as of March 31, 2009.) A shareholder wishing to redeem

capital or withdraw from the Fund must provide written notice at least sixty (60) days prior to a Redemption Date. If

withdrawal requests are received for any Redemption Date aggregating more than 10% of the aggregate net asset value of

the Fund as of such date, the Fund may reduce all such withdrawal requests pro rata in accordance with the Capital Account

balance of each of the withdrawing shareholders so that only 10% of the net asset value of the Fund is withdrawn as of such

date (the “10% Limitation”). Withdrawal requests that are not satisfied because of the 10% Limitation shall be satisfied as of

the next Redemption Date, each time subject to the 10% Limitation. Redemptions may be subject to an audit withholding."

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CAXTON Global Fund

Liquidity Terms

CrystalResearch Report - Updated December 28, 2010


"The Withdrawal Date for Interests is the last calendar day of each calendar quarter upon no less than forty-five (45) days’

prior written notice."

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REDWOOD Fund

Liquidity Terms

CrystalResearch Report - Updated January 12, 2011


"A shareholder may redeem on 60 days’ prior written notice all or any portion of its Shares on the first quarter-end that falls

on or after the second anniversary of its purchase of such shares and on the same quarter-end every two years thereafter;

provided, however, that a shareholder may redeem on 60 days’ prior written notice such Shares on the first quarter-end

that falls on or after the one-year anniversary of its purchase of such Shares and on the same quarter-end every two years

thereafter, subject to a redemption fee, payable to the Fund, of 5% of the net asset value of the redeemed Shares. For

example, if a shareholder subscribes for Shares on January 1, 2010, such Shares may be redeemed (i) on December 31,

2010, subject to a redemption fee, (ii) on December 31, 2011, without payment of a redemption fee, (iii) on December 31,

2012, subject to a redemption fee, and (iv) on December 31, 2013, without payment of a redemption fee, etc. Up to 10% of

the portion of the Fund's net assets (measured at the time of invesment) attributable to shareholders who participate in

"Designated Investments" may be invested in securities for which there is no ready market such as private or restricted

securities and which the Manager, in its sole discretion, determines should be treated as "Designated Investments".

Redemptions may be subject to an audit withholding."

TUDOR Tensor Fund

Liquidity Terms

CrystalResearch Report – Updated December 9, 2010

The Fund summarizes its redemption terms as follows:

"Generally, Shareholders may redeem Shares upon receipt of written notice at least 30 calendar days prior to the last day of

each calendar month. Redemptions may be subject to an audit withholding."

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IMPORTANT DISCLOSURE

Financial Pacific Inc., una entidad regulada y supervisada por la Comision de Valorescon licencia para operar como

casa de valores.

NOT AN OFFER TO SELL: This document (“Document”) is for informational purposes only and is not an offer to sell nor a

solicitation of an offer to invest in any entity or other investment vehicle (the “Fund”) managed by Crystal Capital Partners,

LLC (the “Fund Manager”), or any manager or fund described within this Document. Any offer to sell or solicitation to

invest will only be made through the Private Placement Memorandum and other Offering Documents (together, “the

Offering Documents”) of the Fund and in accordance with all applicable securities laws. Any information contained within

this Document is qualified in its entirety by, and is subject to, the Offering Documents. This Document was prepared to

provide additional information on the proposed portfolio and must be read in conjunction with the Offering Documents of

the Fund.

CONFIDENTIALITY: This document contains Confidential Information which was created for the exclusive use of the

preparer of this document (“Client”). This Document is subject to the Terms of Use Agreement with the Fund and/or the

Fund Manager and may only be used by qualified investors, as defined in the Fund’s Offering Documents. This Document

or any of its components may not be distributed, reproduced or otherwise used without the written consent of the Fund

and/or the Fund Manager and must be returned to the Fund and/or the Fund Manager immediately upon request.

GENERAL: Investments in the Fund are speculative in nature and may involve conflicts of interest and significant risks,

including the risk of total loss. This Document may only be used by qualified investors that have received sufficient

information to understand the risks, as described in the Offering Documents. Past performance is not an indication of

future results.

USE OF HYPOTHETICAL RETURNS AND MODELS TO CALCULATE EXPECTED RETURN AND VOLATILITY: The Proposed

Portfolio is not an actual operating portfolio but rather a proposed portfolio which uses internal simulations to calculate

historical and expected returns and other information based off actual data from the underlying managers or funds. The

Fund may use the sum product of the proposed allocations multiplied by the average return for the exposure over the

defined period, or other reasonable methods, to calculate expected returns and volatility for the proposed portfolio. All

expected returns are net of fees.

RELIABILITY OF INFORMATION: The Fund and/or the Fund Manager use several sources of information to support the

analysis in this Document, including information provided by investment managers, third party databases, and other public

and non-public sources. The Fund and/or the Fund Manager will make commercially reasonable efforts to ensure the

reliability of the information, but make no warranty as to the accuracy, completeness or suitability of the information. Such

information is further subject to the qualifications and limitations contained in the Terms of Use Agreement and the

Disclaimer made part of each fund report.

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LIQUIDITY TERMS: The liquidity schedule constitutes the “best available” liquidity as of the date hereof. The liquidity terms

described are for a particular share class. From time to time, the Fund and/or the Outside Portfolio Manager may offer other

classes or series having different liquidity terms. “Best available” liquidity assumes availability when soft lock terms are

applicable.

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financial pacific opportunity fund

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redwood fund

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yourproposed portfolio

shaw oculus fund

sac capital fund