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BSD Global Tech Fund - Jan 31
- 1. Cayman Emerging ManagerPlatform Black Swan Dexteritas Inc. is a registered Investment Fund Manager, Portfolio Manager, Commodity Trading Manager and Exempt Market Dealer with the Ontario Securities Commission and was appointed by Emerging Asset Management Ltd., a registered mutual fund with the Cayman Islands Monetary Authority, to offer a segregated portfolio in which accredited investors can purchase shares in the BSD Global Tech Hedge Fund pursuant to the terms of the Memorandum for the Cayman Emerging Manager Platform SPC and the Sub-Fund Supplement. Valuation Date Minimum Investment Redemptions MER Ceiling Management Fee Performance Fee High Water Mark Hurdle Rate Last business day of month $150,000 Monthly 2% 2% 20% Yes 8% The BSD Global Tech Hedge Fund invests in mispriced stocks across a dozen global technology subsectors ranging from small to large capitalization. A set of proprietary quantitative criteria is applied to the universe of North American listed technology stocks to identify potential portfolio holdings. Upon finding a suitable investment for our portfolio, we engage in further due diligence including but not limited to analyzing company business model, quarterly/annual reports, earnings/conference calls, and proprietary research. Stocks that are fundamentally sound and offer diversification benefits are then added to the portfolio with an optimized target weighting. A stock position is closed out once it has reached our estimated intrinsic value. BSD also manages a derivatives hedging overlay of the portfolio by evaluating macro fundamentals, technicals and capital flow investment changes, and using futures and options on equity indices, ETFs, fixed income products, commodities and currencies to opportunistically capitalize on these events. The derivatives are positioned to lessen the volatility of our downside risk and complement our long bias mandate. * Performance figures are gross of management and performance fees. DISCLAIMER: The information and opinions expressed herein are current as of this document date and Black Swan Dexteritas Inc. assumes no obligation to provide updates or advise on further developments. Any reference should not be considered as investment advice or a recommendation to buy or sell nor should it be considered as any indication of the portfolio of any Black Swan Dexteritas investment fund or how it will be invested. Commissions, trailing commissions, management fees and expenses may all be associated with fund investments. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. GLOBAL TECHNOLOGY HEDGE FUND ABOUT BLACK SWAN DEXTERITASFUND PLATFORM TERMS AND CONDITIONS Return Since Inception Number of Holdings Correlation (Benchmark) Standard Deviation 16.26% 34 0.88 0.76% PERFORMANCE* Apple Inc. Samsung Electronics Co. Ltd. Visa Inc. Amazon.com Inc. Equinix Inc. 13.4% 6.2% 5.6% 5.3% 4.6% TOP 5 HOLDINGS Black Swan Dexteritas Inc. 175 Bloor Street East, South Tower, Suite #807 Toronto, ON M4W 3R8, Canada Kim Bolton President and Portfolio Manager kim@blackswandexteritas.com 1 (416) 360-3421 Jeremy Lin, CFA Investment Analyst jeremy@blackswandexteritas.com 1 (416) 849 1925 Communication Equipment Internet Software Application Software Consumer Services Semiconductors Technology Real Estate Computers & Peripherals Electronic Equipment & Instruments Telecom Cash Industrial 21.1% 15.2% 15.1% 14.0% 9.0% 7.5% 4.7% 4.3% 3.5% 3.4% 2.2% CONTACT INFORMATION INVESTMENT STRATEGY ALLOCATION BY MARKET CAP ALLOCATION BY TECH SUBSECTOR COMPOUNDED RETURNS SINCE INCEPTION* as of January 31, 2015 MONTHLY RETURNS SINCE INCEPTION* as of January 31, 2015 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD 1.32% 0.35% 2.82% 4.55% -2.08% 3.63% -2.07% -4.39% 2.38% 2.80% 2.21% 3.53% -1.64% 4.95% 2.89% -1.51% 2013 2014 2015 10.69% 0.53% 0.53% Launch Date Total Assets Structure Eligible Investors RRSP Eligibility Benchmark Investment Manager Investment Advisor Custodian / Prime Broker Fund Administrator Auditor Legal Advisors October 1st, 2013 $5,300,000 Segregated Portfolio Foreign Investors No 50% Nasdaq Composite and 50% Russell 2000 Emerging Asset Management Ltd., Bermuda Black Swan Dexteritas Inc., Toronto Interactive Brokers LLC, Greenwich, CT Apex Fund Services, Bermuda / Toronto Deloitte LLP Walkers LLP, Stikeman Elliott, Toronto 15.00% 9/30/13 11/7/13 12/18/13 1/30/14 3/12/14 4/22/14 6/2/14 7/11/14 8/20/14 9/30/14 11/7/14 12/18/14 1/30/15 Blend of 50% Nasdaq Composite Index and 50% Russell 2000 Index BSD Global Technology Hedge Fund 0.00% 7.50% 22.50% -7.50% Small Cap Under $2B 7% Mid Cap $2B to $10B 13% Large Cap Over $10B 80%