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KV Annual Report 2015

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2015 ANNUAL REPORT Feb 2011 Feb 2012 Feb 2013 Feb 2014 Feb 2015 $- $10M -$10M $20M $30M $40M $50M $60M - 10 20 30 40 50 60 2015 Mortgage portfolio Fundings Repayments Deal count (right axis) Operational Summary e following chart documents the key monthly activity in the Fund's portfolio over the last 5 years with respect to principal cash flows, portfolio growth and investment turn over. 34

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