Good Afternoon,


I am happy to attach the ACMH estimates for June.



As you may be aware, like May June has also been a difficult month for the markets, with early indications showing that many hedge funds recorded monthly falls again in June. However, ACMH have again demonstrated its core ability to provide absolute returns by posting positive returns in 5 out of the 6 funds.



These were (Euro Terms);



June 2006 (est)



ARE 0.42%

ECF 0.84%

AGF - 0.07%

AEW 0.86%

AOF 1.07%

ALC 2.51%



I am also pleased to inform you that the two new ACMH funds launched successfully this month; the Absolute India Fund and the Absolute Activist Fund. If you would like information on these or any of the ACMH funds, please do not hesitate to contact me.


With Kind Regards

Rikos Leong-Son