Fund manager contribution exclusion prevents initial-year manager capital from counting towards aggregate participation; a twelve-month establishment window is prescribed. Amendment to section 9A(3) excludes contributions by the eligible fund manager during the first three years of the fund, up to a specified monetary ceiling, from the aggregate participation or investment calculation; it also replaces the prior shorter timing provision in clause (j) with a twelve-month period measured from the last day of the month of the fund's establishment or incorporation.