LETTER TO FG FUNDS INVESTORS

Dear Investor, 

In my new roles as Deputy CEO of GraceKennedy Limited and CEO of GK Investments, I would like to use this opportunity to acknowledge you as a valued investor in our FG Caribbean Bond Fund (formerly GK Caribbean Fixed Income Fund).  With our new organisation, the GK Investments team is now able to focus greater attention on the performance of the non-foods businesses within the GraceKennedy group.  With regard to FG Funds Management (Cayman) Limited, our mutual funds business, we have taken important steps to strengthen the investments within the funds and to provide you with a well managed family of mutual funds to serve as key elements of your investment portfolios. 

Effective January 17, 2007, I appointed one or our Principals of GK Investments, Robert Drummond, as the new CEO of FG Funds Management (Cayman) Limited.  In this capacity, Mr. Drummond will have the responsibility for all aspects of the success of the business.  Prior to joining the GK Investments team Mr. Drummond worked as Business Development Manager assigned to GraceKennedy’s Corporate Office.  He brings a wealth of experience to the First Global family after having worked with a number of Fortune 500 American companies such as American Express Company and Nike Inc., and ITT Sheraton Corp. Mr. Drummond earned his MBA at the Harvard Business School. 

It is our intention that going forward we will engage you with more meaningful and timely communications on our plans for improving the offerings, performance and accessibility of the funds.  We will also endeavour to keep you more in tune with our investment strategies and approaches.   

You may reach me at don.wehby@gkco.com or Robert Drummond at robert.drummond@gkco.com or by calling him at (876) 764-0625.  We look forward to staying in touch with you as we continue to grow together. 


Sincerely,

 
Don Wehby
Deputy CEO - GraceKennedy Limited
& CEO - GK Investments