AFC Asia Frontier Fund invests in stock exchange listed equities of the following fast growing Asian economies: Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar, Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam.
Asia Frontier Capital Ltd. is the manager of the fund.
Asia Frontier Capital Ltd.: AFC Asia Frontier Fund presentationThomas Hugger
AFC Asia Frontier Fund invests in listed equities of the fast growing Asian economies like Bangladesh, Bhutan, Cambodia, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam.
AFC Asia Frontier Fund invests in fast growing Asian frontier countries like Bangladesh, Cambodia, Iraq, Laos, Mongolia, Myanmar (Burma), Papua New Guinea, Pakistan, Sri Lanka and Vietnam. Due to the emerging middle class and opportunities for developing infrastructure in these countries, the fund’s main investment focus is the consumer and infrastructure sector. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries.
AFC Asia Frontier Fund presentation 2013.08.22Thomas Hugger
The document provides information on the AFC Asia Frontier Fund, including:
- The fund seeks long-term capital appreciation through investing in listed equities of companies in high-growth Asian frontier markets such as Bangladesh, Cambodia, Iraq, Laos, Mongolia, Myanmar, Pakistan, Papua New Guinea, Sri Lanka, and Vietnam.
- The fund focuses on consumer stocks, financials, and infrastructure and will invest in both large and mid-small cap companies.
- Asia Frontier Capital, based in Hong Kong, will manage the fund. The firm was created through a management buyout of Leopard Capital and is led by Thomas Hugger, who has over 20 years of experience investing
AFC Asia Frontier Fund presentation 2014.06.09Thomas Hugger
The document provides an executive summary of the AFC Asia Frontier Fund, including its objectives, fund overview, and firm overview. The fund aims to achieve long-term capital appreciation by investing in listed equities of companies in high-growth Asian frontier markets like Bangladesh, Cambodia, Iraq, and others. It focuses on earnings growth, undervalued stocks, and sectors like consumer, financials, and infrastructure. Asia Frontier Capital, based in Hong Kong, will manage the fund using a combination of value and growth investing approaches.
SBI Emerging Business Fund: An Equity Mutual Fund Scheme - Sep 17SBI Mutual Fund
SBI Emerging Business Fund focuses on emerging businesses and invests in companies that are considered emergent. It has the flexibility to invests across market caps. SBI Emerging Business Fund may invests into large, mid and/or small cap stocks in any proportion based on the market conditions making the most of various market phases. Visit SBI Mutual Fund to know more this fund at https://www.sbimf.com/en-us/equity-schemes/sbi-emerging-businesses-fund
SBI Magnum Multicap Fund: An Open-Ended Equity Mutual Fund Scheme - Sep 17SBI Mutual Fund
SBI Magnum Multicap Fund invests across various market caps and sectors for long-term capital appreciation. This fund invests 50-90% in large cap, 10-40% in midcap and 0-10% in small cap. SBI Magnum Multicap Fund is ideal for investors looking for capital appreciation with a long term investment horizon. Know more about this mutual fund at https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-multicap-fund
AFC Asia Frontier Fund Presentation 2015.04.10Thomas Hugger
- Asia Frontier Capital manages the AFC Asia Frontier Fund, which invests in equities in Asian frontier markets such as Bangladesh, Cambodia, Iraq, and others.
- The fund offers diversification benefits and low correlations with global markets due to its focus on under-researched frontier markets in Asia.
- Asian frontier markets provide attractive valuations relative to other emerging markets, with lower price-to-earnings and price-to-book ratios as well as higher dividend yields.
AFC Asia Frontier Fund Presentation: December 2015Thomas Hugger
The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities.
Asia Frontier Capital Ltd.: AFC Asia Frontier Fund presentationThomas Hugger
AFC Asia Frontier Fund invests in listed equities of the fast growing Asian economies like Bangladesh, Bhutan, Cambodia, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam.
AFC Asia Frontier Fund invests in fast growing Asian frontier countries like Bangladesh, Cambodia, Iraq, Laos, Mongolia, Myanmar (Burma), Papua New Guinea, Pakistan, Sri Lanka and Vietnam. Due to the emerging middle class and opportunities for developing infrastructure in these countries, the fund’s main investment focus is the consumer and infrastructure sector. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries.
AFC Asia Frontier Fund presentation 2013.08.22Thomas Hugger
The document provides information on the AFC Asia Frontier Fund, including:
- The fund seeks long-term capital appreciation through investing in listed equities of companies in high-growth Asian frontier markets such as Bangladesh, Cambodia, Iraq, Laos, Mongolia, Myanmar, Pakistan, Papua New Guinea, Sri Lanka, and Vietnam.
- The fund focuses on consumer stocks, financials, and infrastructure and will invest in both large and mid-small cap companies.
- Asia Frontier Capital, based in Hong Kong, will manage the fund. The firm was created through a management buyout of Leopard Capital and is led by Thomas Hugger, who has over 20 years of experience investing
AFC Asia Frontier Fund presentation 2014.06.09Thomas Hugger
The document provides an executive summary of the AFC Asia Frontier Fund, including its objectives, fund overview, and firm overview. The fund aims to achieve long-term capital appreciation by investing in listed equities of companies in high-growth Asian frontier markets like Bangladesh, Cambodia, Iraq, and others. It focuses on earnings growth, undervalued stocks, and sectors like consumer, financials, and infrastructure. Asia Frontier Capital, based in Hong Kong, will manage the fund using a combination of value and growth investing approaches.
SBI Emerging Business Fund: An Equity Mutual Fund Scheme - Sep 17SBI Mutual Fund
SBI Emerging Business Fund focuses on emerging businesses and invests in companies that are considered emergent. It has the flexibility to invests across market caps. SBI Emerging Business Fund may invests into large, mid and/or small cap stocks in any proportion based on the market conditions making the most of various market phases. Visit SBI Mutual Fund to know more this fund at https://www.sbimf.com/en-us/equity-schemes/sbi-emerging-businesses-fund
SBI Magnum Multicap Fund: An Open-Ended Equity Mutual Fund Scheme - Sep 17SBI Mutual Fund
SBI Magnum Multicap Fund invests across various market caps and sectors for long-term capital appreciation. This fund invests 50-90% in large cap, 10-40% in midcap and 0-10% in small cap. SBI Magnum Multicap Fund is ideal for investors looking for capital appreciation with a long term investment horizon. Know more about this mutual fund at https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-multicap-fund
AFC Asia Frontier Fund Presentation 2015.04.10Thomas Hugger
- Asia Frontier Capital manages the AFC Asia Frontier Fund, which invests in equities in Asian frontier markets such as Bangladesh, Cambodia, Iraq, and others.
- The fund offers diversification benefits and low correlations with global markets due to its focus on under-researched frontier markets in Asia.
- Asian frontier markets provide attractive valuations relative to other emerging markets, with lower price-to-earnings and price-to-book ratios as well as higher dividend yields.
AFC Asia Frontier Fund Presentation: December 2015Thomas Hugger
The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities.
The document provides analysis of the Indian stock market. It discusses that global concerns led to some correction in global markets on Friday. The Nifty futures showed profit-booking and consolidated between 7510-7550 before breaking out and closing with a gain of 1.35%. Several stocks such as ONGC, Reliance Capital, CESC, Canara Bank and Tata Motors looked strong. Analysis of options data suggested strength in the market. The breakout has significance for the market to resume its uptrend, with 7700 and 8000 levels being key resistance levels.
SBI Magnum Equity Fund: An Equity Mutual Fund Scheme - Sep 17SBI Mutual Fund
SBI Magnum Equity Fund aims to provide the investor long – term capital appreciation by investing in high growth companies along with the liquidity of an open-ended mutual fund scheme through investments primarily in equities and the balance in debt and money market instruments. SBI Magnum Equity Fund is positioned as large cap mutual fund. The fund is suitable for investors who are looking for long term capital appreciation with relatively lower risk. To know more about this fund, please visit SBI Mutual Fund website https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-equity-fund
This document provides an overview of balanced and diversified mutual funds in India. It discusses India's economic performance and growth of the mutual fund industry. Balanced funds aim to generate capital appreciation and income through a mix of equity, debt and money market securities. Diversified funds focus on long-term capital growth through equity and equity-related securities. Top performing balanced and diversified funds are highlighted based on their returns and portfolio characteristics. Benefits of investing in mutual funds such as diversification, tax efficiency, convenience and expert management are also outlined.
1) The Singapore Exchange (SGX) operates the stock market in Singapore, listing and trading stocks of over 700 companies with a total market capitalization of $650 billion.
2) SGX was formed in 1999 through the merger of Singapore's existing stock, futures, and options exchanges. It has since expanded through acquisitions and opening representative offices in other financial centers.
3) In addition to its core functions of facilitating stock trading, SGX also oversees derivatives and commodities markets, and has strategic investments in other Asian stock exchanges to boost regional connectivity.
This article looks at the Nairobi Stock Exchange (NSE) to identify which from a number of strategies would produce winning stocks on a consistent basis. The article involves a study in which six hypothetical investment dates are considered between 2008 and 2010 and stocks picked on the basis of three strategies for four annual and two eight-month periods prior to these investment dates.
Stocks are picked on the basis of their out-performance in the investment periods prior to the investment dates. The strategies include a dividend yield strategy, a capital growth strategy and a total return (hybrid) strategy to identify which among these would provide the highest number of winners in the period following the investment dates.
The investment dates considered are:
17 January 2008
14 November 2008
20161102 the mostpresingissuesfordevelopment f islamicfinance_presentation_dj...Abubaker Mayanja
The document discusses the advancement of Islamic finance in Africa. It identifies some of the most pressing issues as the lack of a central hub, diverse legal systems across countries, and governance challenges for Islamic financial institutions. It proposes strategies like strengthening multilateral cooperation through organizations like the Islamic Development Bank, encouraging private sector engagement, and developing country-to-country partnerships to help boost Islamic finance. Establishing hubs in OIC member states and aligning with the IDB strategy could help attract funding and technical support. Key trends in Africa like emerging markets and the middle class present opportunities for Islamic finance to grow.
NBK Capital, a leading investment management firm in the Middle East, celebrates its 10th anniversary in 2015 after achieving over 20 awards. The firm is dedicated to offering innovative financial products tailored to clients with a global reach, regional focus, and personal service. ETFs focused on the Middle East have struggled to gain traction due to regulatory challenges and a lack of understanding, but are expected to grow as Saudi Arabia joins emerging market indices and more international investors recognize the potential of regional markets.
This document discusses the Tata Balanced Fund, a hybrid equity-oriented fund. Some key points:
1) Over the last 10 years, the fund has outperformed both its benchmark and category average, returning 16.7% annually compared to 10.7% and 13.5% respectively.
2) The fund takes a more adventurous approach than peers by investing between 30-40% in mid-caps, focusing on niche businesses with high barriers.
3) Since 2000, the fund has outperformed its benchmark by over 80% cumulatively and recovered well from the 2008 crisis, now 35% above its pre-crisis high.
Keeping track of the market is no easy task. Luckily, we do it for you! Learn all about your investments with The Prudent Fact Sheet for November 2021!
The Prudent Fact Sheet (December 2021)| ICICI Prudential Mutual Fundiciciprumf
1) Major global economies like the US, Eurozone, UK, and Japan reported GDP growth in Q3 2021, though some numbers were weaker than initial estimates.
2) The US Federal Reserve kept interest rates unchanged but agreed to a faster tapering of bond purchases. The ECB also kept rates unchanged but increased asset purchases. The Bank of England raised rates slightly.
3) US Treasury yields rose on optimism around economic recovery and the Fed's decision to accelerate tapering, though concerns around rising COVID cases limited further increases.
REA Group is acquiring iProperty Group, which owns leading online property portals in Southeast Asia. iProperty shareholders will receive $4.00 cash per share or can elect to receive $1.20 cash and shares in a new holding company for iProperty. The acquisition will expand REA's presence in high-growth Southeast Asian markets like Malaysia, Hong Kong, Thailand, and Indonesia. REA expects the acquisition to drive long-term growth in key metrics and leverage iProperty's leadership positions, while remaining financially disciplined with a leverage ratio of 1.5x following the deal.
This document provides an overview of the DSP Mid Cap Fund, including:
- The fund invests primarily in mid-cap stocks, with about 2/3 in mid-caps and 1/3 in large and small caps.
- The investment philosophy focuses on identifying durable businesses run by able managers that generate high sustainable returns on equity.
- The fund uses a three pillar investment framework to identify companies based on their business model, management quality, and reasonable valuation.
- Over time the fund aims to generate alpha by investing in quality businesses with good growth potential, while also mitigating risks through a robust investment process.
The Value Line Income and Growth Fund seeks to provide equity-like returns over the long term with less volatility than an all-equity portfolio. Over the past 10 years, the fund has returned 92% of the S&P 500 return with 35% less risk or volatility. The fund achieves this by blending primarily large cap income stocks and high-quality fixed income securities in a flexible portfolio allocation. Recent performance data shows the fund outperforming its category average and ranking highly against peers on a risk-adjusted return basis for various periods.
India is a good long term stuctural storyNikhil Kadu
Foreign institutional investors see India as a good long-term investment opportunity. While recent foreign fund flows into India have been sizable, foreign investors still mainly favor a small number of large stocks. The Indian economy faces both internal and external challenges, but the risk of a sovereign debt crisis in the near future is viewed as minimal provided deficits are managed responsibly and growth increases. Some volatility is expected in markets due to upcoming elections and the US tapering its monetary stimulus.
This document provides an overview of the DSP Equity Fund, a multi-cap equity fund that invests across the market capitalization spectrum with approximately two-thirds in large caps and one-third in mid and small caps. The fund uses a core plus tactical approach, with the core portfolio based on long-term themes and comprising 75-80% of assets, while the tactical portfolio comprises 20-25% allocated to short-term opportunities. The fund evaluates companies using a framework focusing on business strength, management quality, and growth prospects. Its top holdings as of March 2020 included HDFC Bank, Bajaj Finance, and ICICI Bank.
Mutual funds allow individual investors to pool their money together into a professionally managed investment portfolio. The document discusses the life stages of individual investors from young independence to retirement and how mutual funds can help investors meet their financial goals at each stage. It provides an overview of mutual fund types, including equity, debt, money market, and hybrid funds. The benefits of mutual funds are highlighted such as diversification, low costs, liquidity, and professional management. Risks of equity investing are also discussed. The mutual fund industry in India is summarized from its origins in 1964 to its current size and regulations.
Smallholder and SME Investment Finance (SIF) FundExternalEvents
https://webapps.ifad.org/members/eb/120/docs/EB-2017-120-R-26.pdf
IFAD plans to introduce the Smallholder and Small and Medium-Sized Enterprise
Investment Finance Fund (SIF) to invest in smallholder organizations and rural
SMEs. This will be set up in an operating environment that
will jointly support agricultural value chains and apply de-risking mechanisms.
Make the most of every opportunity that comes your way with the ICICI Prudential Flexicap Fund. Maintain a flexible portfolio that invests across sectors and works towards a better future for you.
Know more at https://bit.ly/3hegzFX
Add a bit of flexibility to your portfolio by investing across sectors with ICICI Prudential Flexicap Fund. Aim for liquidity and consistency by investing in largecap companies and long-term growth potential with mid, and smallcap companies and work towards your wealth creation goals. NFO launches on 28th June 2021.
To know more, head to https://bit.ly/3xZP4qB
This is a brief outline of the conference call held on 16 November 2010 with Nilesh Shah, Deputy Managing Director, ICICI Prudential Asset Management Company (the AMC). The topic of the call was ICICI Prudential AMC’s views on Macro Economy, Equity and Fixed Income Market and outlook on ICICI Prudential Regular Savings Fund.
Kijana Mack - Ashton Global PresentationKijana Mack
The Ashton Global International Small-Cap Fund seeks to generate returns through investing in mispriced small-cap stocks and special situations globally. The fund's portfolio managers identify undervalued companies trading below intrinsic value, with a focus on smaller companies. Not constrained by benchmarks or sectors, the fund has the flexibility to invest where it finds the most value. Since inception in 2014, the fund has outperformed its benchmark with lower volatility through its deep value approach.
The document provides analysis of the Indian stock market. It discusses that global concerns led to some correction in global markets on Friday. The Nifty futures showed profit-booking and consolidated between 7510-7550 before breaking out and closing with a gain of 1.35%. Several stocks such as ONGC, Reliance Capital, CESC, Canara Bank and Tata Motors looked strong. Analysis of options data suggested strength in the market. The breakout has significance for the market to resume its uptrend, with 7700 and 8000 levels being key resistance levels.
SBI Magnum Equity Fund: An Equity Mutual Fund Scheme - Sep 17SBI Mutual Fund
SBI Magnum Equity Fund aims to provide the investor long – term capital appreciation by investing in high growth companies along with the liquidity of an open-ended mutual fund scheme through investments primarily in equities and the balance in debt and money market instruments. SBI Magnum Equity Fund is positioned as large cap mutual fund. The fund is suitable for investors who are looking for long term capital appreciation with relatively lower risk. To know more about this fund, please visit SBI Mutual Fund website https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-equity-fund
This document provides an overview of balanced and diversified mutual funds in India. It discusses India's economic performance and growth of the mutual fund industry. Balanced funds aim to generate capital appreciation and income through a mix of equity, debt and money market securities. Diversified funds focus on long-term capital growth through equity and equity-related securities. Top performing balanced and diversified funds are highlighted based on their returns and portfolio characteristics. Benefits of investing in mutual funds such as diversification, tax efficiency, convenience and expert management are also outlined.
1) The Singapore Exchange (SGX) operates the stock market in Singapore, listing and trading stocks of over 700 companies with a total market capitalization of $650 billion.
2) SGX was formed in 1999 through the merger of Singapore's existing stock, futures, and options exchanges. It has since expanded through acquisitions and opening representative offices in other financial centers.
3) In addition to its core functions of facilitating stock trading, SGX also oversees derivatives and commodities markets, and has strategic investments in other Asian stock exchanges to boost regional connectivity.
This article looks at the Nairobi Stock Exchange (NSE) to identify which from a number of strategies would produce winning stocks on a consistent basis. The article involves a study in which six hypothetical investment dates are considered between 2008 and 2010 and stocks picked on the basis of three strategies for four annual and two eight-month periods prior to these investment dates.
Stocks are picked on the basis of their out-performance in the investment periods prior to the investment dates. The strategies include a dividend yield strategy, a capital growth strategy and a total return (hybrid) strategy to identify which among these would provide the highest number of winners in the period following the investment dates.
The investment dates considered are:
17 January 2008
14 November 2008
20161102 the mostpresingissuesfordevelopment f islamicfinance_presentation_dj...Abubaker Mayanja
The document discusses the advancement of Islamic finance in Africa. It identifies some of the most pressing issues as the lack of a central hub, diverse legal systems across countries, and governance challenges for Islamic financial institutions. It proposes strategies like strengthening multilateral cooperation through organizations like the Islamic Development Bank, encouraging private sector engagement, and developing country-to-country partnerships to help boost Islamic finance. Establishing hubs in OIC member states and aligning with the IDB strategy could help attract funding and technical support. Key trends in Africa like emerging markets and the middle class present opportunities for Islamic finance to grow.
NBK Capital, a leading investment management firm in the Middle East, celebrates its 10th anniversary in 2015 after achieving over 20 awards. The firm is dedicated to offering innovative financial products tailored to clients with a global reach, regional focus, and personal service. ETFs focused on the Middle East have struggled to gain traction due to regulatory challenges and a lack of understanding, but are expected to grow as Saudi Arabia joins emerging market indices and more international investors recognize the potential of regional markets.
This document discusses the Tata Balanced Fund, a hybrid equity-oriented fund. Some key points:
1) Over the last 10 years, the fund has outperformed both its benchmark and category average, returning 16.7% annually compared to 10.7% and 13.5% respectively.
2) The fund takes a more adventurous approach than peers by investing between 30-40% in mid-caps, focusing on niche businesses with high barriers.
3) Since 2000, the fund has outperformed its benchmark by over 80% cumulatively and recovered well from the 2008 crisis, now 35% above its pre-crisis high.
Keeping track of the market is no easy task. Luckily, we do it for you! Learn all about your investments with The Prudent Fact Sheet for November 2021!
The Prudent Fact Sheet (December 2021)| ICICI Prudential Mutual Fundiciciprumf
1) Major global economies like the US, Eurozone, UK, and Japan reported GDP growth in Q3 2021, though some numbers were weaker than initial estimates.
2) The US Federal Reserve kept interest rates unchanged but agreed to a faster tapering of bond purchases. The ECB also kept rates unchanged but increased asset purchases. The Bank of England raised rates slightly.
3) US Treasury yields rose on optimism around economic recovery and the Fed's decision to accelerate tapering, though concerns around rising COVID cases limited further increases.
REA Group is acquiring iProperty Group, which owns leading online property portals in Southeast Asia. iProperty shareholders will receive $4.00 cash per share or can elect to receive $1.20 cash and shares in a new holding company for iProperty. The acquisition will expand REA's presence in high-growth Southeast Asian markets like Malaysia, Hong Kong, Thailand, and Indonesia. REA expects the acquisition to drive long-term growth in key metrics and leverage iProperty's leadership positions, while remaining financially disciplined with a leverage ratio of 1.5x following the deal.
This document provides an overview of the DSP Mid Cap Fund, including:
- The fund invests primarily in mid-cap stocks, with about 2/3 in mid-caps and 1/3 in large and small caps.
- The investment philosophy focuses on identifying durable businesses run by able managers that generate high sustainable returns on equity.
- The fund uses a three pillar investment framework to identify companies based on their business model, management quality, and reasonable valuation.
- Over time the fund aims to generate alpha by investing in quality businesses with good growth potential, while also mitigating risks through a robust investment process.
The Value Line Income and Growth Fund seeks to provide equity-like returns over the long term with less volatility than an all-equity portfolio. Over the past 10 years, the fund has returned 92% of the S&P 500 return with 35% less risk or volatility. The fund achieves this by blending primarily large cap income stocks and high-quality fixed income securities in a flexible portfolio allocation. Recent performance data shows the fund outperforming its category average and ranking highly against peers on a risk-adjusted return basis for various periods.
India is a good long term stuctural storyNikhil Kadu
Foreign institutional investors see India as a good long-term investment opportunity. While recent foreign fund flows into India have been sizable, foreign investors still mainly favor a small number of large stocks. The Indian economy faces both internal and external challenges, but the risk of a sovereign debt crisis in the near future is viewed as minimal provided deficits are managed responsibly and growth increases. Some volatility is expected in markets due to upcoming elections and the US tapering its monetary stimulus.
This document provides an overview of the DSP Equity Fund, a multi-cap equity fund that invests across the market capitalization spectrum with approximately two-thirds in large caps and one-third in mid and small caps. The fund uses a core plus tactical approach, with the core portfolio based on long-term themes and comprising 75-80% of assets, while the tactical portfolio comprises 20-25% allocated to short-term opportunities. The fund evaluates companies using a framework focusing on business strength, management quality, and growth prospects. Its top holdings as of March 2020 included HDFC Bank, Bajaj Finance, and ICICI Bank.
Mutual funds allow individual investors to pool their money together into a professionally managed investment portfolio. The document discusses the life stages of individual investors from young independence to retirement and how mutual funds can help investors meet their financial goals at each stage. It provides an overview of mutual fund types, including equity, debt, money market, and hybrid funds. The benefits of mutual funds are highlighted such as diversification, low costs, liquidity, and professional management. Risks of equity investing are also discussed. The mutual fund industry in India is summarized from its origins in 1964 to its current size and regulations.
Smallholder and SME Investment Finance (SIF) FundExternalEvents
https://webapps.ifad.org/members/eb/120/docs/EB-2017-120-R-26.pdf
IFAD plans to introduce the Smallholder and Small and Medium-Sized Enterprise
Investment Finance Fund (SIF) to invest in smallholder organizations and rural
SMEs. This will be set up in an operating environment that
will jointly support agricultural value chains and apply de-risking mechanisms.
Make the most of every opportunity that comes your way with the ICICI Prudential Flexicap Fund. Maintain a flexible portfolio that invests across sectors and works towards a better future for you.
Know more at https://bit.ly/3hegzFX
Add a bit of flexibility to your portfolio by investing across sectors with ICICI Prudential Flexicap Fund. Aim for liquidity and consistency by investing in largecap companies and long-term growth potential with mid, and smallcap companies and work towards your wealth creation goals. NFO launches on 28th June 2021.
To know more, head to https://bit.ly/3xZP4qB
This is a brief outline of the conference call held on 16 November 2010 with Nilesh Shah, Deputy Managing Director, ICICI Prudential Asset Management Company (the AMC). The topic of the call was ICICI Prudential AMC’s views on Macro Economy, Equity and Fixed Income Market and outlook on ICICI Prudential Regular Savings Fund.
Kijana Mack - Ashton Global PresentationKijana Mack
The Ashton Global International Small-Cap Fund seeks to generate returns through investing in mispriced small-cap stocks and special situations globally. The fund's portfolio managers identify undervalued companies trading below intrinsic value, with a focus on smaller companies. Not constrained by benchmarks or sectors, the fund has the flexibility to invest where it finds the most value. Since inception in 2014, the fund has outperformed its benchmark with lower volatility through its deep value approach.
People in Sri Lanka are missing out on the Power of InvestingRavi Abeysuriya
Ravi Abeysuriya, CFA, Group Director / CEO of Candor said at the seminar on "Stock Market: Regulatory Framework and Investment Challenges" organized by The Ceylon Chamber of Commerce that “the Capital Market in Sri Lanka is under-owned versus its frontier market peers and as a result people miss out on a valuable opportunity to build long term savings for retirement”.
The fund invests in IPO securities listed in Greater China, Singapore, or the US that derive revenue from Greater China or Singapore. Over the past 2 years, the fund achieved a return of 138.39%, outperforming its benchmark by 42.07%. The manager uses quantitative and qualitative criteria to determine investments with a focus on IPOs that offer growth potential.
SBI Magnum Multicap Fund: An Open-Ended Equity Mutual Fund Scheme - Nov 17SBI Mutual Fund
SBI Magnum Multicap Fund invests across various market caps and sectors for long-term capital appreciation. This fund invests 50-90% in large cap, 10-40% in midcap and 0-10% in small cap. SBI Magnum Multicap Fund is ideal for investors looking for capital appreciation with a long term investment horizon. Know more about this mutual fund at https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-multicap-fund
KB Star Funds - Presentation Material (201606)kbasset
Please note that marketing materials without an approval code granted from the
Compliance Division of KB Asset Management are not official materials authorized
under our internal procedure. This marketing material is for general information
purposes only and subject to change. Investors should be aware that this presentation
does not purport to be a complete explanation of risks and other risks may also be
relevant from time to time. In the future the Fund may be exposed to risks that are
currently difficult to predict. Risks that are not described in it are considered as
immaterial at the moment, but they may become substantial later on and adversely affect
the fund. KB Asset Management does not guarantee investment decisions and
investment outcomes based on the information of this marketing material.
Approval Code Granted from the Compliance Division of KB Asset Management: 2015_336
The document summarizes a global macro hedge fund called Zaratan Capital. It provides an overview of the firm, management team, and investment process. Some key points:
- Zaratan Capital utilizes a global macro strategy to take advantage of trends across rates, currencies, commodities, and equity markets globally using liquid derivatives.
- The investment team has over 75 years of combined experience in finance and has worked together for over a decade. They implement a process focused on macro theme identification, trade construction, portfolio construction, and risk management.
- Past performance shows the strategy has achieved positive returns with low volatility and the ability to withstand market drawdowns when employed by team members previously. The fund aims to provide
Asia Frontier Capital - AFC Asia Frontier Fund presentation 2015.07.09Thomas Hugger
The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka and Vietnam. The AFC Asia Frontier Fund is positioned to take advantage of the continuing economic shifts in these countries and offers high returns combined with significant diversification opportunities. This fund is directed by the founder and CEO of Asia Frontier Capital, Thomas Hugger, who has been investing in frontier markets across Asia and Africa for more than 20 years.
This document provides positioning and strategy summaries for various mutual fund schemes offered by Kotak Mutual Fund in March 2007. It describes the investment objectives, strategies, and positioning of 17 equity schemes, 9 debt schemes, and 1 liquid scheme. Performance metrics and positioning on a risk-return spectrum are also included for several schemes.
This document provides an overview of the Anchor BCI Equity Fund, a South African equity portfolio managed by Anchor Capital. It seeks long-term capital growth through a bottom-up stock selection process that favors quality stocks. The fund constructs its portfolio based on fundamental research, focusing on stocks with strong returns on capital and cash flows. While it considers valuation, the fund's style is not strictly 'value'. It can invest in offshore instruments for efficient portfolio management. The minimum investment is R25,000 and the fund aims to maintain over 80% equity exposure.
HSBC held its Asia Strategy Investor Day in London on March 29, 2007. Michael Smith, President and CEO of HSBC, presented on opportunities in Asia, which is experiencing strong economic growth. Asia now contributes 35% of HSBC's profit before tax. HSBC is well positioned in Asia with a leading presence in many key markets. Personal Financial Services, Commercial Banking, and other business units outlined strategies to capitalize on growing consumer demand and trade flows in the region.
L&T Infrastructure Fund is an equity fund that invests in infrastructure sector stocks with the goal of achieving long-term capital gains. It has a large asset size of over Rs. 1,918 crore. The fund focuses on mid and small-cap stocks and has outperformed its benchmark and category averages in past positive market cycles, delivering high returns. However, it also experiences high volatility during market downturns due to its riskier portfolio. The fund is best suited for experienced investors with a long-term outlook who are comfortable with high risks and fluctuations in returns.
AFC Asia Frontier Fund presentation: December 2014Thomas Hugger
AFC Asia Frontier Fund invests in listed equities from Bangladesh, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar, Pakistan, Papua New Guinea,Sri Lanka and Vietnam
This document summarizes the Fundsupermart.com Recommended Unit Trust Awards 2015. It lists the winning funds in various categories including core equity, bond, and balanced funds. Core equity funds were awarded for global, developed markets, emerging markets, Asia ex-Japan, and Malaysia equity exposures. Bond funds were awarded for short duration Malaysia, Malaysia, and Islamic bond funds. Balanced funds were awarded for Asia ex-Japan, Malaysia, and Islamic balanced funds. Supplementary awards included funds focused on Greater China, Europe, US, global resources, Asia ex-Japan small-mid cap, and bond funds focused on Asia ex-Japan, emerging markets, and global bonds. The event highlights top performing funds based on both quantitative and
AFC Vietnam Fund Presentation February 2023ThomasHugger1
The AFC Vietnam Fund is designed to offer investors high returns from growth in equity markets in Vietnam whilst offering a portfolio that has low correlation with global equity markets. The fund aims to achieve long-term capital appreciation for investors by capturing value in in undervalued listed Vietnamese equities over the next 5-7 years, predominantly targeting the small to medium size company segment.
Vietnam has very compelling growth prospects with an attractively valued market that has significant room to grow. Competitive labour costs combined with improvements in human capital as well as economic and trade environments present a strong case for market development. Vietnam has had a stable currency and increasing foreign reserves over the past two years and high GDP growth rates are being supported by fiscal and monetary policy.
AFC Vietnam Fund is focusing mainly on listed small- and midcaps, since we believe they are undervalued in comparison to blue chips. The fund integrates ESG (Environmental - Social - Governance) criteria in its investment process and holds a diversified portfolio of around 50 attractively valued companies to carefully control concentration and liquidity risks.
For more information please contact av(at)asiafrontiercapital(dot)com
The document discusses various investment and protection services available through RL360. It begins by summarizing the Isle of Man's history and reputation as an offshore financial center. It then discusses RL360's regulation and client protection schemes. The document goes on to provide examples of regular contribution investment plans, single sum investments, and independent discretionary management services. It also introduces a new emerging market equity income fund and describes international protection plans.
KBW Burnham MEA Fund Pitch(Final)(LinkedIn)P K Unni
The document is a private investment memorandum for the Middle East & Asia Growth Fund 1, a $1 billion private equity fund. The fund will focus on consumer-driven sectors like education, healthcare, technology, logistics and food & agriculture across key markets in the Middle East, Asia, Turkey and Africa. It will seek to generate returns of 20-25% through investments in high-growth companies and consolidation opportunities in fragmented industries. The memorandum outlines the investment strategy, proposed fund terms and early deal pipeline for the fund.
SBI Magnum Multicap Fund: An Open-ended Growth Scheme - May 17SBI Mutual Fund
SBI Magnum Multicap Fund provides investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks spanning the entire market capitalization spectrum and in debt and money market instruments. To learn more about this mutual fund check SBI Mutual Fund page
https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-multicap-fund
The document summarizes a panel discussion on various asset classes for investment - equity, debt, and gold. It provides an overview of the current outlook and risks for each asset class according to the panel speakers. For equity, the panelists noted strong economic growth prospects but also risks from COVID variants. For debt, they discussed the shifting global policy landscape and rising inflation. The panel suggested an asset allocation approach with 12% in emergency funds, 20% in gold funds, and 80% in equity funds. It concluded with a Q&A session covering various topics related to investing in each asset class.
AFC Uzbekistan Fund - March 2021 fund presentationThomas Hugger
The document discusses an investment opportunity in Uzbekistan through the AFC Uzbekistan Fund. It highlights Uzbekistan's rapid economic growth and liberalization as the country undergoes political and economic reforms. Specifically, it notes Uzbekistan's young population, competitive labor costs, strategic location along trade routes, tourism potential, and improving business environment as reasons for the country's investment potential and expected continued strong economic growth over the next 3-5 years. The main risks mentioned include potential increases in the current account deficit and external economic or political shocks.
AFC Iraq Fund (non-US) - Factsheet 31.07.2020Thomas Hugger
The AFC Iraq Fund (Non-US) is an equity fund that invests in companies located in or doing business with Iraq. In July 2020, the fund returned 11.4%, outperforming its benchmark index which returned 8.2%. The fund's largest holdings are in the financial and communications sectors, with over half of its assets in Iraqi banks. As of July 2020, the fund was 91.1% invested in Iraq, with smaller allocations to Norway and the UK, and held 7.2% in cash.
The AFC Iraq Fund is an equity fund that invests in companies listed on the Iraq Stock Exchange as well as foreign companies conducting business in Iraq. In June 2020, the fund returned 11.4%, outperforming its benchmark which returned 8.2%. As of July 2020, the fund was invested in 14 companies across Iraq, Norway, and the UK, with financials making up over half of assets. The top holdings reported strong earnings growth in the first half of 2020, demonstrating the recovery of the Iraqi banking sector.
AFC Iraq Fund: presentation August 2020Thomas Hugger
This document provides an overview of investment opportunities in Iraq. It discusses Iraq's oil wealth as the positive factor, noting Iraq's large oil reserves and low production costs. However, it also points out weaknesses in Iraq's banking system, infrastructure, and private sector development as challenges. The document argues that despite risks, Iraq presents a attractive risk-reward profile for investors given the gap between the real risks in Iraq versus the higher perceived risks, which are likely to narrow as the country develops.
- The AFC Vietnam Fund is a Vietnam public equities fund focused on small to medium cap equities. In July 2020, the fund gained 0.8% with a NAV of USD 1,632.94, bringing returns since inception in December 2013 to +63.3%.
- The fund's largest positions are in Agriculture Bank Insurance JSC, Vietnam Container Shipping JSC, TanCang Logistics and Stevedoring JSC, Pharmedic Pharmaceutical Medicinal JSC, and LienViet Post Joint Stock Commercial Bank.
- The portfolio is invested in 47 names across various sectors including industrials (28.3%) and consumer goods (21.0%), with 24.1% in
AFC Vietnam Fund: presentation 07.08.2020Thomas Hugger
- The document provides an executive summary, investment strategy, and performance summary for the AFC Vietnam Fund, an open-end fund that invests in undervalued listed Vietnamese equities.
- The fund sees opportunities for capital appreciation over the next 3-5 years based on Vietnam's strong GDP growth, increasing foreign investment, and attractive stock valuations compared to regional markets.
- The investment strategy focuses on fundamental bottom-up stock selection across various sectors, with risk controls like diversification and position limits. The fund held over 60 stocks as of July 2020 and has outperformed the VN Index since inception.
AFC Asia Frontier Fund: Factsheet as of 31.07.2020Thomas Hugger
The document provides information on the AFC Asia Frontier Fund, an investment fund focused on public equities in emerging Asian frontier markets. Key details include: the fund's monthly subscription and redemption terms, its benchmark index, fund managers and investment manager, available share classes and their fees, fund size and performance since inception in 2012. The summary also includes commentary on the fund's July 2020 performance and positioning at the end of the month.
AFC Uzbekistan Fund factsheet 2020 07 31Thomas Hugger
The AFC Uzbekistan Fund is a Cayman Islands domiciled fund that invests primarily in listed companies in Uzbekistan and Kyrgyzstan. In July 2020, the fund returned +3.2% and has returned +3.9% since its inception in March 2019. The largest holding, Qizilqum Cement, appreciated 22.8% on strong domestic cement demand and price increases. However, low trading liquidity impacted some other holdings and overall fund performance. The fund remains focused on materials and industrial companies, with over 90% of assets in Uzbekistan.
AFC Uzbekistan Fund (non-US) factsheet 2020 07 31Thomas Hugger
The document summarizes the AFC Uzbekistan Fund (Non-US), a fund focused on investing in listed equities of companies in Uzbekistan and Kyrgyzstan. The fund returned +3.2% in July 2020, with its largest holdings in cement producer Qizilqum Cement appreciating 22.8% for the month. For the year-to-date period, the fund has returned -5.0%. As of July 2020, the fund was invested in 28 names across Uzbekistan (93.6%) and Kyrgyzstan (2.3%), with largest allocations to materials (59.2%) and industrials (14.6%).
AFC Uzbekistan Fund presentation 2020 08 07Thomas Hugger
The document provides an overview of the investment opportunity in Uzbekistan through the AFC Uzbekistan Fund. Uzbekistan is undergoing rapid economic and political liberalization, with GDP growth averaging over 5% in recent years. The economy is being restructured to attract foreign investment and transform Uzbekistan into a regional manufacturing and logistics hub. The Fund seeks to capture capital appreciation over the next 3-5 years by investing in undervalued companies in Uzbekistan, which are expected to benefit from the country's economic growth and liberalization. Risks include a potential increase in the current account deficit and external economic or political shocks.
- The AFC Vietnam Fund invests in listed Vietnamese companies as well as companies with operations in Vietnam. In June 2018, the fund lost -0.1% while benchmarks declined more sharply.
- The fund has outperformed since inception in 2013 with a return of +80.0% and annualized return of +13.9%, benefiting from broad diversification.
- While Vietnam is still considered a frontier market, the manager believes an upgrade to emerging market status is likely in the future, which could attract substantial new investments to Vietnamese stocks.
AFC Vietnam Fund Presentation 10.7.2018Thomas Hugger
The document provides information on the AFC Vietnam Fund, a fund focused on capturing growth in Vietnam. It summarizes that Vietnam's economy is growing at over 6% annually and attracting strong foreign investment. The fund aims to achieve capital appreciation over the next 3-5 years by investing in undervalued small and medium companies across various sectors in Vietnam through a bottom-up stock selection process. Since inception in 2013, the fund has achieved a return of 80.04% and its net asset value as of June 2018 was $1,800.40.
The AFC Iraq Fund is an equity fund focused on investments in Iraq and foreign companies doing business in Iraq. The fund offers monthly subscriptions and redemptions at net asset value. It aims to achieve long-term capital appreciation by investing in a diversified portfolio of listed Iraqi and foreign equities. As of June 2018, the fund was invested in 14 companies across Iraq, Norway, and the UK, with largest allocations to the financial and consumer staples sectors. For the month, the fund returned -2.5%, outperforming its benchmark which lost -3.5%, and has gained 17.1% year-to-date compared to the benchmark's decline of -0.6%.
AFC Iraq Fund (non-US) Factsheet 30.6.2018Thomas Hugger
This document provides information on the AFC Iraq Fund (Non–US), including its investment objective, focus, subscriptions and redemptions, benchmarks, fees, performance, holdings and allocations. The fund seeks long-term capital appreciation through investing in listed Iraqi equities and foreign companies doing business in Iraq. In June 2018, the fund returned -2.5% compared to -3.5% for its benchmark and is up 17.1% year-to-date. The largest country, sector and security allocations are to Iraq, financials and bank stocks, respectively.
AFC Asia Frontier Fund Factsheet 30.6.2018Thomas Hugger
AFC Asia Frontier Fund invests in listed equities from Bangladesh, Cambodia, Iraq, Kazakhstan, Kyrgyzstan, Laos, Maldives, Mongolia, Myanmar, Pakistan, Papua New Guinea, Sri Lanka, Uzbekistan and Vietnam.
AFC Asia Frontier Fund Factsheet - May 2017Thomas Hugger
AFC Asia Frontier Fund invests in listed equities of Asian frontier markets like Bangladesh, Cambodia, Iraq, Laos, Maldives, Mongolia, Myanmar, Pakistan, Papua New Guinea, Sri Lanka and Vietnam.
AFC Iraq Fund April 2016 Fund FactsheetThomas Hugger
The AFC Iraq Fund is an equity fund focused on investments in Iraq and foreign companies doing business in Iraq. The fund's Class D shares returned -2.7% in April 2016, outperforming its benchmark index which returned -6.6%. The fund has faced redemptions from another Iraq fund and political protests in Iraq have increased uncertainty. However, interest in emerging markets is resuming and frontier markets like Iraq are expected to see increased investment in the coming months. As of April 30, the fund was invested in 14 companies across Iraq, Norway, and the UK and held 1.2% in cash.
AFC Vietnam Fund invests in a diversified portfolio of listed Vietnamese companies as well as those that relate to non-Vietnamese companies with main business operations in Vietnam. The fund currently has a focus on small to medium cap equities which are considered underpriced.
“Amidst Tempered Optimism” Main economic trends in May 2024 based on the results of the New Monthly Enterprises Survey, #NRES
On 12 June 2024 the Institute for Economic Research and Policy Consulting (IER) held an online event “Economic Trends from a Business Perspective (May 2024)”.
During the event, the results of the 25-th monthly survey of business executives “Ukrainian Business during the war”, which was conducted in May 2024, were presented.
The field stage of the 25-th wave lasted from May 20 to May 31, 2024. In May, 532 companies were surveyed.
The enterprise managers compared the work results in May 2024 with April, assessed the indicators at the time of the survey (May 2024), and gave forecasts for the next two, three, or six months, depending on the question. In certain issues (where indicated), the work results were compared with the pre-war period (before February 24, 2022).
✅ More survey results in the presentation.
✅ Video presentation: https://youtu.be/4ZvsSKd1MzE
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
Budgeting as a Control Tool in Government Accounting in Nigeria
Being a Paper Presented at the Nigerian Maritime Administration and Safety Agency (NIMASA) Budget Office Staff at Sojourner Hotel, GRA, Ikeja Lagos on Saturday 8th June, 2024.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
2. 2
1. Executive Summary 3
2. Why Frontier Markets 4
3. Asia Frontier Capital 14
4. Investment Objective 17
5. Investment Strategy 18
6. Fund Information 23
7. Top 4 Stock Holdings 34
8. Country Snapshots 36
9. Terms and Conditions 51
10. Contact Information 53
11. Disclaimer 54
3. Objectives
• Achieve long-term capital appreciation by investing in listed equities of companies that have
their principal business activities in the high-growth frontier markets of Asia.
Fund Overview
• Sector focus: consumer related stocks (consumer staples and consumer discretionary),
financials and infrastructure related stocks. Additionally country specific sectors/stocks like
tourism in Sri Lanka or mining in Mongolia and Papua New Guinea.
• Invest in target countries large cap and liquid stocks (core portfolio) with stock position
size from 2% to 5%, and mid- to small caps (satellite portfolio) with position size from 1% to
3%.
• Focus on earnings growth and undervalued stocks as key drivers for returns
Firm Overview
• Asia Frontier Capital , headquartered in Hong Kong is an investment management firm that
specializes in frontier markets with experience managing funds since 2008.
3
7. 7
Attractive Valuations
• Attractive P/E valuations (9.9x) compared to Global and Emerging Markets
Index P/E – Forecast 12-month (x)
MSCI World Index 13.2
MSCI Emerging Markets Index 11.0
MSCI Frontier Markets Index 9.9
Source: Bloomberg
Value Drivers
Under-researched
Illiquid
Misunderstood
Bad PR
Ignored
Growth Drivers
Economic & Social Reform
Infrastructure
Connectivity
Low Base
Consumerism
8. 8
Low Correlation to Developed Markets Ensures Asset Diversification
• Frontier markets have low correlation to the MSCI World Index and yield higher
returns indicating ample opportunities to find “alpha”
Correlation based on 5 Years of Monthly
Return 5-Year Return
MSCI World Index MSCI Frontier Index
MSCI World Index 100% -21%
MSCI Frontier Index 86% 100% -27%
Bangladesh -18% -37% 227%
Sri Lanka 4% -26% 108%
Mongolia 16% -1% 870%
Vietnam 78% 61% -63%
Laos* 79% 78% N/A
Pakistan 88% 79% 2%
* 2 years only Source: Factset, MSCI
9. 9
Future Emerging Markets
• High GDP CAGR of 7% at a pre-emerging stage
• Forecasted to increase at a faster rate than BRIC and
eventually replace BRIC as the new mainstream
emerging markets
6%
7%7% 6%
1%
2%
0%
1%
2%
3%
4%
5%
6%
7%
8%
2000-2010 2010-2016
CAGR of Historical and Projected GDP
Leopard Frontier
Universe
BRIC
Major Advanced
Economies (G7)
Source: IHS Global Insight, IMF
12. 12
High Growth + Diversification
• High GDP growth of 6.9% in 2012 and 7.7% expected in 2013
• A single investment vehicle that allows investors to diversify their
portfolio and access high growth markets that are not easily
accessible
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
Asian Frontier Markets will grow by 7.7%
on average in 2013
13. 13
Governments Are Attempting To Increase FDI
• Increasing productivity through transfer of skills, technology,
and job opportunities
Expected Increase In Foreign Investors’ Participation
• Myanmar has attracted foreign inflows from well reputed
companies such as Coca-Cola, Dell, Carlsberg, Mitsubishi, etc.
• Banks such as Standard Chartered and HSBC are also in the
process of setting up operations in Myanmar
• Labor intensive businesses are moving to Bangladesh from
China due to the cheaper availability of a young skilled labor
• Exxon Mobil has set up a US$ 20 bn LNG project in Papua New
Guinea which is expected to double PNG’s GDP
• Tourism is growing rapidly in countries such as Sri Lanka and
Cambodia
14. 14
Proven Expertise In Frontier Markets
• The founder and CEO, Thomas Hugger, has more than 20 years
experience in investing in Frontier Markets
• Licensed by SFC Hong Kong for Type 4 (investment advisory) and Type
9 (asset management)
• Asia Frontier Capital Ltd. was created in June 2013 through MBO with
Leopard Capital
Ongoing Cooperation with Leopard Capital
• Experience managing funds in frontier markets since 2008
• Conducts equity research in local offices in Bangladesh, Cambodia,
Laos and Thailand
Attractive Equities Identified
• Identified equities with great upside potential
• Access to numerous primary and secondary research sources
15. 15
AFC Frontier Capital Limited - Portfolio Manager
• Thomas Hugger
•27 years in private banking, managing portfolios of listed
and unlisted equity investments
•Lived in Asia >9 years
•Former Managing Director and Head of Portfolio
Management at LGT Bank, Hong Kong
•Held investment positions at LGT Bank in Zurich and Bank
Julius Baer in Zurich and Hong Kong
•Founding shareholder of one of the largest brokerage
company in Bangladesh
•Certified Financial Analyst (CFIA) and Investment Adviser
(Switzerland), and Certified European Federation of
Financial Analysts Societies (EFFAS) Financial Analyst
16. 16
AFC Frontier Capital Limited – Investment Analyst
• Ruchir Desai
• MBA Graduate in Finance from CUHK Business School,
The Chinese University of Hong Kong
• Also alumnus of The Fuqua School of Business, Duke
University
• 5 years of Equity Research experience
• Previous experience in frontier markets as Summer
Associate at Leopard Asia Frontier Fund
• Prior to business school was based in Mumbai, India and
spent two years as a Senior Analyst at a mid market
private equity group
• In addition, gained three years of experience as a Sell
Side Research Analyst covering the Indian Software
Services industry
17. • Achieve long-term capital appreciation by investing in listed equities of
companies that have their principal business activities in high-growth Asian
frontier markets.
• The fund focuses primarily on investments in consumer related stocks,
financials and infrastructure.
• Countries included in the AFC Asia Frontier Fund Universe include
Bangladesh
Cambodia
Iraq
Laos
Mongolia
Myanmar
Pakistan
Papua New Guinea
Sri Lanka
Vietnam
17
19. • Invest in target countries large cap and liquid stocks (core portfolio) with
stock positions ranging from 2% to 5%, and mid- to small caps (satellite
portfolio) with positions ranging from 1% to 3%
• Focus on free cash flow, growth potential and undervalued stocks as
key drivers for returns
• Top –Down Approach :
Strategic country and currency allocation
Company visits and research (primary and secondary) either by
the fund manager or team members based in various countries
in the AFC Asia Frontier universe
• Combination of Value and Growth
Gain exposure to domestic and structural growth by investing in
companies with sound business performance and management,
coupled with good expansion strategies
19
20. 20
Country/Sector Approach
In addition to AFC Frontier Fund’s core investment themes (Consumption,
Infrastructure, and Financials), the fund is also targeting country-specific
sectors that are poised for rapid growth
Agriculture in Cambodia, Laos, Myanmar and Vietnam
Textiles in Bangladesh and Pakistan
Travel & Tourism in Cambodia and Sri Lanka
Power generation in Laos
Energy in Iraq and Papua New Guinea
Mining in Mongolia and Papua New Guinea
21. 21
Target Countries
(AFC Asia Frontier Universe)
• Bangladesh
• Bhutan
• Cambodia
• Iraq
• Laos
• Maldives
• Mongolia
• Myanmar
• Nepal
• Pakistan
• Papua New Guinea
• Sri Lanka
• Vietnam
MSCI Frontier Index
• 29.6% Kuwait 1.9% Slovenia
• 14.2% Qatar 1.6% Vietnam
• 9.1% Nigeria 1.1% Mauritius
• 8.4% UAE 1.0% Romania
• 6.9% Argentina 0.9% Tunisia
• 3.9% Pakistan 0.9% Jordan
• 3.7% Bangladesh 0.6% Bahrain
• 3.1% Oman 0.4% Ukraine
• 3.0% Kazakhstan 0.4% Estonia
• 2.5% Croatia 0.3% Serbia
• 2.1% Kenya 0.3% Lithuania
• 2.0% Sri Lanka 0.1% Bulgaria
• 2.0% Lebanon
The investment universe of Leopard Asia Frontier Fund consists of all countries
included in the MSCI Frontier Index plus other “frontier” countries not yet included.
22. 22
Risk Mitigation
Focus on earnings growth, free cash flow and value as the key driver for
high returns
In-depth due diligence of investment opportunities
Diversify across sectors and countries to reduce non systematic risk
Avoid investing in countries / currencies / sectors of which we
strategically disapprove (role of the Investment Committee)
No leverage
Cash
Not fully invested in uncertain times and/or excessive valuations
Holding cash will allow the fund to take advantage of opportunistic
investments when they arise (momentum / news driven)
24. 24
NAV as of 31st May 2013
USD-A EUR-A CHF-A USD-B EUR-B CHF-B
NAV $1,133.62 n/a CHF 1,165.67 $1,139.67 n/a n/a
Monthly Performance AFC Frontier Fund (Class A)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2012 USD
+0.91% -7.56% -0.27% -0.26% +0.85% +3.64% -0.96% +0.62% +3.62% +0.15%
CHF
-0.29% -1.18% -2.62% +1.62% -1.40% +1.92% -1.82% +0.24% +2.26% -1.39%
2013 USD
+5.99% -1.75% -0.70% +1.12% +8.25% +13.20%
CHF
+5.65% +0.84% +0.61% -0.96%
+11.36
%
+18.21%
Monthly Performance AFC Frontier Fund (Class B)
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2012 USD
+0.94% -7.55% -0.24% -0.23% +0.88% +3.67% -0.94% +0.64% +3.65% +0.37%
2013 USD
+6.09% -1.77% -0.70% +1.17% +8.45% +13.55%
25. 25
Monthly Performance AFC Frontier Fund (Non-US) Class A
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2012 USD
+0.90% -7.56% -0.27% -0.26% +0.85% +3.64% -0.96% +0.61% +3.62% +0.14%
CHF
-0.29% -1.18% -2.62% +1.62% -1.40% +1.92% -1.82% +0.24% +2.26% -1.39%
2013 USD
+5.99% -1.75% -0.70% +1.12% +8.25% +13.20%
CHF
+5.65% +0.84% +0.62% -0.96%
+11.36
%
+18.21%
Monthly Performance AFC Frontier Fund (Non-US) Class B
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2012 USD
+0.94% -7.55% -0.24% -0.23% +0.88% +3.67% -0.94% +0.64% +3.65% +0.36%
2013 USD
+6.09% -1.77% -0.70% +1.17% +8.45% +13.54%
NAV as of 31st May 2013
USD-A EUR-A CHF-A USD-B EUR-B CHF-B
NAV $1,133.51 n/a CHF 1,165.67 $1,139.55 n/a n/a
27. 27
Amongst the top 6% of funds as at the end of
May 2013
• AFC Asia Frontier Fund’s 3 month , year to
date and 1 year performances are amongst the
top 6% of emerging market equity funds
globally (1,225 funds) (net of all fees /
expenses)
Source: Bloomberg
28. 28
Growth in Fund Size and Number of Clients
0
2
4
6
8
10
12
14
16
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Private Clients (RHS)
Institutional Clients (RHS)
Fund size (US$'000) (LHS)
31. 31
Focus on Consumer Stocks (44% allocation)
• Due to the extremely low GDP per capita in these countries, every
additional dollar earned is spent on better quality food, water and basic
necessities
• Attractive valuations of consumer stocks in Asia make these companies
strong takeover targets
• Heineken bought out Asia Pacific Breweries at a P/E ratio of 38x and a
P/B ratio of 11x. This shows the confidence that multinationals have in
the future growth of South-East Asia.
• KKR has invested USD 359 million into Masan Group (Vietnam) at a 44x
P/E Ratio
32. 32
Focus on Consumer Stocks (44%)
Country P/E(Trailing) P/B Ratio Dividend Yield
Bangladesh – Footwear Company 9.2x 1.2x 2.4%
Cambodia – Gaming Company 13.1x 3.7x 4.3%
Iraq – Soft Drink Manufacturer 12.6x 1.5x 4.6%
Mongolia – Bakery Products 8.8x 0.7x 0.8%
Pakistan – Brewery 9.4x 1.0x 1.8%
Papua New Guinea – Consumer Retail 10.6x 2.0x 4.1%
Sri Lanka – Car Importer 3.0x 1.0x 9.3%
Vietnam – Brewery 4.0x 1.1x 10.9%
33. 33
Regional Peer Comparison
Company P/E Ratio
(Trailing)
P/B Ratio
Dutch Lady Milk (Malaysia) 24.3x 3.5x
Fraser & Neave (Singapore) 23.8x 11.8x
Nestle Malaysia 29.2x 7.4x
Indofod Sukses (Indonesia) 19.8x 11.6x
Mayora Indah (Indonesia) 33.9x 24.6x
Want Want China China 37.2x 19.6x
34. 34
A Frontier Country’s Largest Bank
• 40% market share, country’s largest branch network
• Expected loan growth: 30% CAGR over the next 3 years
• Earnings growth 2012: 24%, 2013: 44%
• P/E 2012: 5.7x, P/E 2013: 4.0x
• Dividend yield: 11.4%, PBV: 0.97x
A Leading Generic Pharmaceutical Company
• Started exports to increase sales revenue
• The fund invested through a GDR with a 63% discount to the home
market
• Earnings growth 2012: 35%, 2013: 28%
• P/E 2012: 11.0x, P/E 2013: 8.6x
35. 35
A Gaming, Hotel and Leisure Operator
• 23 years gaming monopoly, increasing number of gaming tables
and expanding leisure infrastructure
• Revenue growth 2012: 18%, 2013: 23%
• P/E 2012: 10.2x, P/E 2013: 8.3x
• Dividend yield: 5.1%
A Frontier Country’s Leading Power Plant Operator
• A power generation company that builds transmission lines,
electro-stations and invests in electricity generating projects in
Laos
• Earnings growth 2013: 29%
• P/E 2012: 10.2x, P/E 2013: 8.4x
• Dividend yield: 4.6%, PBV: 1.4x
37. 37
Population 151.8 m
5 Year Average GDP Growth 6.2%
Population of working age 90m
• Growing middle-class with a young
demographics
• Increasing urbanization
• The SFC has withdrawn 10% capital gain tax
for foreign institutional investors
• Strategically located between India and
China.
• Growing pharmaceutical, software and
garment industries
38. 38
CAMBODIA
• Abundant natural resources
• Strategic location in dynamic region
• Favourable demographics
• Stable government with favourable
investment policies
• Stock market established 2011
• First IPO completed in April 2012
Population 14.7 m
5 Year Average GDP Growth 5.4%
Main industries
Garments,
Tourism,
Agriculture
39. 39
Population 33.7m
5 Year Average GDP Growth 7.1%
Value of Oil Exports (USD bn) 92.69
• Continuous improvement in stability and
security
• Strategic position, availability of labor and
competitive cost base allow Iraq to export to
the Middle Eastern Region and to the world.
• Growing middle class
• Low corporate tax rates of 15%
• Abundant proven oil reserves (in excess of
115 billion barrels)
IRAQ
40. 40
Population 6.4m
5 Year Average GDP Growth 8.0%
Agriculture as % of GDP 33%
• New-found mineral wealth is transforming the
traditionally agricultural economy
• Increased global commodity prices are driving
growth
• Young population – 48% under the age of 14
• Further reforms to the banking system are
expected
• Government is promoting investment in SMEs
LAOS
41. 41
MONGOLIA
Population 2.8m
5 Year Average GDP Growth 8.8%
Least dense country in the
world
1.8
persons/
km2
• The National Development and Innovation
Committee (NDIC) projects GDP growth to
top 20.6% in 2014
• Aggressive expansion due to foreign
investment in large mining projects
• Banks anticipated to double assets to keep
up with loan growth
42. 42
MYANMAR
Population 63.7m
5 Year Average GDP Growth 5.2%
Rich of natural resources
87% of export
earnings
• Strategically located between India and China
• Resource rich
• Far reaching political & economic reforms
• Sanctions to be lifted
• International support
• Local stock exchange with 2 listed stocks only for
domestic investors
• Exposure possible though stocks listed in
Singapore
43. 43
PAKISTAN
• Recent elections could lead to economic
reform.
• Stable relations with India
• Apparel and textiles accounted for nearly 60%
of exports
• Transport infrastructure has been given
significant focus in the last two decades for
improvement and modernization
Population 178.9m
High rates of
inward remittances
Over US$1
bn/month in 2011
Population of
working age
60 million
44. 44
Population 6.8m
5 Year Average GDP Growth 8.1%
Rich of natural resources
73% of
export
earnings
• Port Moresby Stock Exchange with 22 stocks listed
• Companies also listed overseas in Australia, Hong
Kong and London
• Resource rich: natural gas, oil, copper, gold, silver
• Cash crops: coffee, copra, tea, rubber, sugar
• Fishery
• Tourism underdeveloped
PAPUA NEW
GUINEA
45. 45
SRI LANKA
Population 20.7m
5 Year Average GDP Growth 6.4%
Literacy Rate 91%
• South Asia’s most open economy (since
1977); Private sector driven (85% of GDP)
and non-monopolistic
• Stable economy after end of civil conflict in
2009
• Spectacular tourism destination
• Specialty agricultural exporter (tea, rubber,
spices etc.)
• Future growth will be spurred by
reconstruction projects and real-estate
development
46. 46
VIETNAM
Population 90.4m
5 Year Average GDP Growth 5.9%
Literacy Rate 93%
• A major exporter of agricultural products
such as black pepper, rice and coffee
• Bordered by China to the north, Laos to the
northwest, Cambodia to the southwest, and
the South China Sea to the east
• Pivoting towards a manufacturing oriented
economy
• Potential for consumer companies due to
increasing disposable income
48. 48
Bangladesh Bhutan Cambodia Iraq Laos
Nominal GDP (USD billion, 2012) 118 1.6 14.2 144 8.9
Population (million, 2012) 169 0.7 15 33 6.6
GDP per capita (USD, 2012) 700 2284 931 4287 1338
Key economic characteristics Growing middle
class and large
youth segment
Based on agriculture,
forestry, tourism and the
sale of hydroelectric
power to India
Abundant natural
resources
Abundant oil
resources and
growing middle
class
Abundant natural
resources
Government style Unitary
parliamentary
democracy
Constitutional
monarchy
Constitutional monarchy.
The head of
Government is the
longest serving leader in
SE Asia
Democratic
parliamentary
federal republic
Single party socialist
republic
Primary stock exchange Dhaka Stock
Exchange
Royal Securities
Exchange of Bhutan
Cambodia Securities
Exchange
Iraq Stock
Exchange
Lao Securities
Exchange
Index DSE General
Index
n/a CSX Composite Index ISX General Index LSX Composite Index
Foreigners allowed? Yes No Yes Yes Yes
How many stocks are listed? 286 20 1 84 2
Year established 1954 1993 2011 2004 2011
Market cap (USD billion) 30.2 0.2 0.13 5 1.049
Average daily turnover (USD million)
20 0.05 0.1 5 0.1
49. 49
Maldives Mongolia Myanmar Nepal Pakistan
Nominal GDP (USD billion, 2012) 2 6 54 18 233
Population (million, 2012) 0.3 3 65 28 179
GDP per capita (USD, 2012) 6230 2267 908 623 1372
Key Economic Characteristics
Principal activities
involve tourism, fishing
and shipping
New-found mineral
wealth is
transforming the
traditionally
agricultural economy
Lack of infrastructure
and and updated
financial and banking
system
Industry mainly
involves the
processing of
agricultural
products
Workforce is 60
million people strong;
endowed with natural
gas and oil
Government style
Presidential republic,
with the President as
head of government and
head of state
Considerable power
remains in the
parliament
A presidential republic
with a bicameral
legislature
A framework of a
republic with a
multi-party system
Democratic
parliamentary federal
republic
Primary stock exchange
Maldives Stock
Exchange
Mongolian Stock
Exchange
Myanmar Securities
Exchange Centre
Nepal Stock
Exchange
Karachi Stock
Exchange
Index
Maldives Stock
Exchange Index
MSE Top-20 n/a NEPSE Index KSE 100 Index
Foreigners allowed? No Yes No No Yes
How many stocks are listed? 6 336 2 322 639
Year established 2008 1991 1996 1992 1947
Market cap (USD billion) 0.5 1.3 n/a 4.8 42.5
Average daily turnover (USD million) 0.001 0.2 0.001 0.5 50
50. 50
Papua New Guinea Sri Lanka Thailand Vietnam
Nominal GDP (USD billion, 2012) 15.3 65 377 135
Population (million, 2012) 6.8 20 64 90
GDP per capita (USD, 2012) 2255 3138 5850 1498
Key economic characteristics Mineral deposits, including oil,
copper, and gold, account for
72% of export earnings
Tourism and
ICT/services have
emerged as important
economic activities
Heavily export-dependent
economy, with exports
accounting for more than two-
thirds of GDP
Agriculture's share of
GDP declined from 32%
in 1990 to 17% in 2009;
manufacturing is
increasing
Government style Constitutional monarchy with
parliamentary democracy,
relatively unstable
The two main political
parties are both
committed to free
market principles
Constitutional monarchy under
a parliamentary democratic
system
A one-party communist
state
Primary stock exchange Port Moresby Stock Exchange Colombo Stock
Exchange
Stock Exchange of Thailand Ho Chi Minh Stock
Exchange / Hanoi Stock
Exchange
Index KSI ASPI SET Index VN Index
Foreigners allowed? Yes Yes Yes Yes
How many stocks are listed?
19 281 541 704
Year established 1999 1985 1975 2000
Market cap (USD billion) 51 17.7 280 41
Average daily turnover (USD million)
0.1 21 700 48
51. 51
Investment Manager: Asia Frontier Capital Ltd., Cayman Islands
Investment Advisor: Asia Frontier Investments Ltd., Hong Kong
Fund Base Currencies: USD, EUR, CHF
Subscription Frequency: Monthly, 5 business days before end of month
Redemption: Monthly:
- 90 days prior notice for class A shares
- 180 days prior notice for class B shares
Management Fee: 1.8% p.a. of NAV for class A shares
1.5% p.a. of NAV for class B shares
Performance Fee: 10% NAV appreciation above 3 month USD-LIBOR
+2% and high water mark for class A shares
8% NAV appreciation above 3 month USD-LIBOR
+2% and high water mark for class B shares
Initial Minimum Investment: USD 100,000 for USD shares
EUR 80,000 for EUR shares
CHF 100,000 for CHF shares
52. 52
Subsequent Minimum Subscription: USD 10,000 for USD shares
Initial Subscription Price: EUR 10,000 for EUR shares
CHF 10,000 for CHF shares
Initial Subscription Price: USD 1,000 for USD shares
EUR 1,000 for EUR shares
CHF 1,000 for CHF shares
Subsequent Subscription Price: NAV
Country/Region Focus: Asia Frontier Markets
Initial Launch Date: 30 March 2012
Valuation Day: Last day of each calendar month
Main Custodian Bank: Deutsche Bank, Singapore
Auditor: KPMG, Cayman Islands
Administrator: Amicorp Fund Services Asia Pte Ltd., Singapore
Legal Advisor: Cayman Islands: Ogier, Hong Kong
US: Bingham McCutchen LLP, Boston
53. 53
Thomas Hugger, Fund Manager, Hong Kong
Email: th@asiafrontiercapital.com
Tel: +852 3904 1015, Fax+852 3904 1017
Website: www.asiafrontiercapital.com
54. 54
This Presentation is presented solely for purposes of discussion to assist prospective investors in determining whether they have a preliminary interest in the investment opportunity described
herein. Under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy, any security or other interest in AFC Asia Frontier Fund, AFC Umbrella Fund or
any other fund related thereto (the “Fund”). Offers and sales of interests in the Fund will not be registered under the laws of any jurisdiction and will be made solely to qualified investors under all
applicable laws. Potential investors must read the entire Offering Memorandum delivered by the Fund and the disclosure in this Subscription Agreement. Nothing contained herein shall be deemed
to be binding against, or to create any obligations or commitment on the part of, any potential investor or the Asia Frontier Capital (the “Fund Sponsors”). The Fund Sponsors reserve the right, in
their sole and absolute discretion with or without notice, to alter the terms or conditions of this Presentation and the Fund and/or to alter or terminate the potential investment opportunity described
herein. Potential investors are not to construe this Presentation as investment, legal or tax advice. Prior to making any potential investment, potential investors should consult with their own legal,
investment, accounting, regulatory, tax and other advisors to determine the consequences of the potential investment opportunity described herein and to arrive at an independent evaluation of
such potential investment opportunity.
By accepting this Presentation, the recipient agrees not to copy, distribute, discuss or otherwise disclose this Presentation or the contents hereof (including the potential investment opportunity
described) or any other related information provided by the Fund Sponsors or by its agents to any person other than employees of recipient evaluating this potential investment opportunity on
recipient’s behalf without the prior written consent of the Fund Sponsors.
While the information contained herein has been obtained from various sources which the Fund Sponsors believe, but does not guarantee, to be reliable, the Fund Sponsors do not represent that
it is accurate or complete and it should not be relied upon as such. No person has been authorized to give any information or make any representation or warranty regarding the subject matter
hereof, either express or implied, and, if given or made in this Presentation, in other materials or verbally, such information, representation or warranty cannot and should not be relied upon nor is
any representation or warranty made as to the accuracy, content, suitability or completeness of the information, analysis or conclusions or any information furnished in connection herewith
contained in this Presentation and it is not to be relied upon as a substitute for independent review of the underlying documents, available due diligence information and such other information as
prospective investors may deem appropriate or prudent to review. The Fund Sponsors, their agents, their respective affiliates, and each of their respective shareholders, members, officers,
directors, managers, employees, counsel, advisors, consultants and agents (“Representatives”), expressly disclaim any and all liability for express or implied representations or warranties that may
be contained in, or for omissions from or inaccuracies in, this Presentation or any other oral or written communication transmitted or made available to a prospective investor or its Representatives.
Without limiting the generality of the foregoing, nothing contained herein is or shall be relied upon as a promise or representation as to any matter, including, without limitation, the future
performance of the potential investment opportunity described herein. None of the Fund Sponsors, their agents, or their respective Representatives is under any obligation to correct any
inaccuracies or omissions in this Presentation. Each prospective investor will have the sole responsibility for verifying the accuracy of all information furnished in this Presentation and in any other
due diligence information furnished to a prospective investor, and each prospective investor shall have the sole responsibility for determining the value of the potential investment based on
assumptions said prospective investor believes to be reasonable. There shall be no recourse against the Fund Sponsors or any of their Representatives in the event of any errors or omissions in
the information furnished, the methodology used, the calculations of values or conclusions. Without limiting the generality of the foregoing, any historical information or information based on past
performance included herein is for informational purposes only, has inherent limitations and is not intended to be a representation, warranty or guarantee of future performance. All of the
information presented herein is subject to change without notice. Actual returns to potential investors may be lower than the figures shown herein. Projected performance data shown constitutes
“forward-looking information” which is based on numerous assumptions and is speculative in nature. Actual results may vary significantly from the values and rates of return projected herein. There
can no assurance that the Fund will realize its rate of return objectives or return of investors’ capital. Potential investors should have the financial ability and willingness to accept the risks (including
without limitation the risk of loss and lack of liquidity) characteristic of investments in entities such as the Fund.
AN INVESTMENT IN THE FUND WILL NOT BE APPROPRIATE FOR ALL INVESTORS. INTERESTS IN THE FUND WILL INVOLVE A HIGH DEGREE OF RISK AND ARE INTENDED FOR SALE
ONLY TO SOPHISTICATED INVESTORS WHO ARE CAPABLE OF UNDERSTANDING AND ASSUMING THE RISKS INVOLVED. INVESTORS MAY LOSE ALL OR SUBSTANTIALLY ALL OF
THEIR INVESTMENT.
THE INTERESTS IN THE FUND HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE APPLICABLE SECURITIES
LAWS OF ANY US. STATE OR ANY NON-U.S. JURISDICTION, AND ARE BEING OFFERED AND SOLD IN RELIANCE ON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT AND ANY SUCH APPLICABLE LAWS. INTERESTS IN THE FUND HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE US. SECURITIES AND EXCHANGE
COMMISSION OR BY THE SECURITIES REGULATORY AUTHORITY OF ANY STATE OR ANY OTHER RELEVANT JURISDICTION, NOR HAS ANY OTHER AUTHORITY OR COMMISSION
PASSED UPON THE ACCURACY OR ADEQUACY OF THIS MEMORANDUM. ANY REPRESENTATION TO THE CONTRARY IS UNLAWFUL.