Ion Israel Fund   Ion Israel Fund's (IIF) investment philosophy is to offer investors exposure to a portfolio of companies based in or closely tied to Israel, by deploying a long-term, fundamental research driven investment process.  At least 80% of investments will be in the securities of Israeli and Israel-related companies, which includes not only companies located in Israel, but also companies which have a significant presence in Israel, or have operations that have a major impact on the Israeli economy.   IIF's investment style is fundamental, bottom-up stock selection, with a value bias.  IIF's managers will identify and invest in a range of companies with solid long term revenue and earnings growth prospects, on reasonable valuations. Emphasis is placed on managing a balanced, relatively concentrated investment portfolio with broad sector and industry diversification, with a strong focus on identifying high quality management teams. IIF also engages in short-selling and employs various other hedging strategies.    ION US Quant Fund   ION US Quant Fund's (IUQ) investment philosophy is to strive towards offering investors positive annual returns in all market conditions through exposure to a portfolio of companies that trade on various US Exchanges. The base universe for the Fund includes all US-traded stocks with a share price above $5 and average daily traded volume of $3m or more. The beauty of the quantitative model that is behind the fund is that it analyses a large quantity a of fundamental and statistical financial data, whilst at the same time placing a great deal of focus on risk management. Moreover, the model uses only one general algorithm for all market conditions, which provides a high degree of stability and reliability. This model has been successfully back-tested for the past 17 years. IUQ's typical portfolio is highly diversified with a minimum of 40 stocks held at any time and with a high degree of sectoral diversification.