Investor sentiment is often affected by the most recent events and since sentiment is a powerful driver of both expectation and decision making, it is of utmost importance for any investor to continually, and soberly balance their views with longer term perspectives.
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.
The document provides information about capital markets in India. It discusses the Bombay Stock Exchange (BSE) as the oldest stock exchange in Asia, established in 1875. It lists various market offerings at BSE like cash market, derivatives, debt market segment, and ETFs/mutual funds. It also describes how the capital market operates with T+2 settlement system and details demat and e-trading facilities. It notes the role of regulator SEBI and various asset class offerings like equity, debt, gold. The document emphasizes the importance of investing to beat inflation and highlights equity investing can provide higher long-term returns than fixed deposits.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Money management in equilibrium - Jonathan Berk, A.P. Giannini Professor of Finance, Graduate School of Business, Stanford University
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
This document provides key information about the KB Star Funds - KB Value Focus Korea Equity Sub-Fund (the Sub-Fund), including its objective to achieve long-term capital appreciation primarily through investing in Korean companies. The Sub-Fund seeks capital appreciation using a value-oriented strategy focusing on companies with sound fundamentals and growth potential. The Sub-Fund is classified in a high risk category and carries risks including emerging market, liquidity, currency, and those outlined in the prospectus. Charges include ongoing charges of 1.25% taken from the Sub-Fund annually. Past performance information is not available as the Share Class has not been priced for a full financial year.
15318 stanlib multi manager all stars equity fo f-static sheetNaweed Hoosenmia
The document provides information on the STANLIB Multi-Manager All Stars Equity Fund of Funds (FoF). It includes details such as the fund's objective to generate long-term capital growth through local and global equity markets by outperforming inflation by 7% annually over 7-year periods. It also describes the fund as a fully invested, multi-managed equity portfolio with a minimum 80% total equity exposure. Additionally, it lists some of the underlying managers that make up the portfolio.
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.
The document provides information about capital markets in India. It discusses the Bombay Stock Exchange (BSE) as the oldest stock exchange in Asia, established in 1875. It lists various market offerings at BSE like cash market, derivatives, debt market segment, and ETFs/mutual funds. It also describes how the capital market operates with T+2 settlement system and details demat and e-trading facilities. It notes the role of regulator SEBI and various asset class offerings like equity, debt, gold. The document emphasizes the importance of investing to beat inflation and highlights equity investing can provide higher long-term returns than fixed deposits.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Money management in equilibrium - Jonathan Berk, A.P. Giannini Professor of Finance, Graduate School of Business, Stanford University
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
This document provides key information about the KB Star Funds - KB Value Focus Korea Equity Sub-Fund (the Sub-Fund), including its objective to achieve long-term capital appreciation primarily through investing in Korean companies. The Sub-Fund seeks capital appreciation using a value-oriented strategy focusing on companies with sound fundamentals and growth potential. The Sub-Fund is classified in a high risk category and carries risks including emerging market, liquidity, currency, and those outlined in the prospectus. Charges include ongoing charges of 1.25% taken from the Sub-Fund annually. Past performance information is not available as the Share Class has not been priced for a full financial year.
15318 stanlib multi manager all stars equity fo f-static sheetNaweed Hoosenmia
The document provides information on the STANLIB Multi-Manager All Stars Equity Fund of Funds (FoF). It includes details such as the fund's objective to generate long-term capital growth through local and global equity markets by outperforming inflation by 7% annually over 7-year periods. It also describes the fund as a fully invested, multi-managed equity portfolio with a minimum 80% total equity exposure. Additionally, it lists some of the underlying managers that make up the portfolio.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Sharpening the Arithmetic of Active Management - Lasse Pedersen, Professor of Finance, Copenhagen Business School and NYU; and Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
The Highwater Capital Fund employs a strategy of researching and trading equities, currencies, bonds and other investments to achieve superior risk-adjusted returns. The Fund uses both macroeconomic top-down analysis and bottom-up fundamental analysis of individual investments to identify opportunities. The Fund's manager, Christopher von Dahm, has over 20 years of experience in finance and seeks investments that exhibit characteristics like strong balance sheets, profitability, and management quality. The Fund aims to balance performance with risk management techniques like position limits and diversification. Past performance includes returns of over 140% since inception but past results do not guarantee future performance.
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
Check our Quantic Asset Management Investo Institutional Factsheet for the month of April 2019. Find out more about our services https://www.quantic-am.com/en/
Walter Aylett presented to the Senate Group on Aylett & Co, an independent investment management firm founded in 2005. He provided an overview of the firm's capabilities, investment philosophy, process and team. Aylett & Co aims to invest in quality businesses and takes a long-term view. The presentation included discussion of the firm's funds and stock selection approach, as well as their current market view and concerns around short-termism in the market.
Hilltop decorrelated fund august 2013 factsheetJohn Robertson
This document provides information on the Hilltop Decorrelated Fund, including its portfolio allocation and historical performance. The fund utilizes a multi-manager approach, investing in 10-15 hedge fund strategies across global markets that aim to deliver returns with low correlation to traditional benchmarks. In August 2013, the fund was down 0.2% with half of its 16 underlying managers positive and half negative. The document also provides details on fund terms, fees, and the investment experience and background of the fund manager.
This document provides an overview of the IDFC Focused Equity Fund. The fund is an open-ended equity scheme that invests in a concentrated portfolio of a maximum of 30 stocks with a multi-cap focus. It aims to invest in companies with superior quality and growth characteristics. The fund manager believes returns are driven by identifying the right stocks and allocating sufficiently to them. Currently, the fund is overweight in sectors such as information technology, telecom, and healthcare.
Check our Quantic Asset Management Tirthas X1 Retail Factsheet for the month of May 2019. Find out more about our services https://www.quantic-am.com/en/
CHAPTER 5 FINANCIAL STATEMENTS ANALYSIS - II part i.docxHome
This document discusses various financial analysis concepts and ratios. It provides examples to illustrate how ratios can provide insight into a company's performance and prospects. Specifically, it discusses how price-earnings ratios reflect investor expectations about future earnings, how the return on assets ratio measures operational performance, and how financial leverage can enhance shareholder returns if assets earn a higher rate of return than funding costs. The document also considers factors like industry volatility that may impact shareholder preferences around leverage.
Check our Quantic Asset Management Investo Retail Factsheet for the month of April 2019. Find out more about our services https://www.quantic-am.com/en/
Partners Capital is an investment management firm that provides its view of the future of private equity investing over the next 5 years based on historical trends and forecasts. It projects that private equity assets under management will increase from $4.5 trillion to $6 trillion from 2017 to 2021 as committed but uncalled capital grows 80% and net asset value increases due to strong returns. It also examines projected returns for large cap buyout funds under different earnings growth and valuation scenarios, finding returns of 6.7-12% are possible. The document provides context and sources for its projections primarily using data from Preqin and the firm's own models.
Hilltop decorrelated fund october 2013 factsheetJohn Robertson
The Hilltop Decorrelated Fund gained 1.2% in October. After months of offsetting winning and losing positions cancelling each other out in the first half of the year, the fund has seen a return to normality over the past 4 months with more winning than losing positions. The fund employs a multi-manager strategy investing in 12-20 underlying hedge funds pursuing decorrelated returns across asset classes like equities, fixed income, currencies and commodities. The target is an average annual return of 10-12% with low volatility and correlation to markets.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Active vs. passive – practitioner perspectives - Tim Hodgson, Head of the Thinking Ahead Institute, Willis Towers Watson
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking
Portfolio construction today - Cliff Asness, Managing & Founding Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
This document provides key information about the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap companies and the remaining amount in mid and small cap stocks and debt instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high as it predominantly invests in equity. The document outlines the asset allocation, investment strategy and risks of the fund.
This document summarizes research on the momentum factor in equities. It finds that stocks with strong recent performance tend to continue outperforming, known as the momentum effect. The biggest challenge for capturing momentum is its high inherent turnover. Using optimization in portfolio construction can successfully capture momentum while controlling turnover. Adding momentum to portfolios with other factors like value provides diversification benefits due to its negative correlation with value.
The Breakout portfolio provides concise summaries of its performance, strategy, and risks. It has generated positive returns since February 2017 through trend following across currencies and equity indexes. The strategy analyzes markets 24/7 to identify strong trends and implements 90% of trades intraday to reduce risk, while maintaining diversification through multiple financial instruments. However, the portfolio is suited for medium-risk investors due to potential short-term losses and fluctuations from its use of leverage and correlation to changing market conditions.
IDFC Large Cap Fund_Key information memorandumRahulpathak154
This document provides key information about the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap companies and the remaining amount in mid and small cap stocks and debt instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high as it predominantly invests in equity. The document outlines the asset allocation, investment strategy and risks of the fund.
IDFC Large Cap Fund _Key information memorandumJubiIDFCEquity
This document provides key information about the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap companies and the remaining amount in mid and small cap stocks and debt instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high as it predominantly invests in equity. The document outlines the asset allocation, investment strategy and risks of the fund.
IDFC Large Cap Fund_Key information memorandumIDFCJUBI
The document is a Key Information Memorandum for the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap stocks and the remaining amount in mid and small cap stocks, debt, and money market instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high since it predominantly invests in equity.
IDFC Core Equity Fund_Key information memorandumIDFCJUBI
The document provides key information about the IDFC Core Equity Fund, an open-ended equity scheme that invests in both large and mid cap stocks. The fund seeks to generate long-term capital growth by investing predominantly in these types of stocks. It aims to invest at least 70% of assets in equities and equity-related instruments, focusing on large and mid cap companies. The fund also provides information on the asset allocation, investment strategy, risks associated with the scheme and plans/options available to investors.
IDFC Core Equity Fund _Key information memorandumRahulpathak154
The document provides key information about the IDFC Core Equity Fund, an open-ended equity scheme that invests in both large cap and mid cap stocks. The fund seeks to generate long-term capital growth by investing predominantly in these types of stocks. It aims to invest at least 70% of total assets in large and mid cap equities. The fund also provides information on the asset allocation, investment strategy, risk factors associated with the fund and its plans/options. As of May 31, 2020, the fund had 103,405 folios with assets under management of Rs. 2000.85 crores.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Sharpening the Arithmetic of Active Management - Lasse Pedersen, Professor of Finance, Copenhagen Business School and NYU; and Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
The Highwater Capital Fund employs a strategy of researching and trading equities, currencies, bonds and other investments to achieve superior risk-adjusted returns. The Fund uses both macroeconomic top-down analysis and bottom-up fundamental analysis of individual investments to identify opportunities. The Fund's manager, Christopher von Dahm, has over 20 years of experience in finance and seeks investments that exhibit characteristics like strong balance sheets, profitability, and management quality. The Fund aims to balance performance with risk management techniques like position limits and diversification. Past performance includes returns of over 140% since inception but past results do not guarantee future performance.
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
Check our Quantic Asset Management Investo Institutional Factsheet for the month of April 2019. Find out more about our services https://www.quantic-am.com/en/
Walter Aylett presented to the Senate Group on Aylett & Co, an independent investment management firm founded in 2005. He provided an overview of the firm's capabilities, investment philosophy, process and team. Aylett & Co aims to invest in quality businesses and takes a long-term view. The presentation included discussion of the firm's funds and stock selection approach, as well as their current market view and concerns around short-termism in the market.
Hilltop decorrelated fund august 2013 factsheetJohn Robertson
This document provides information on the Hilltop Decorrelated Fund, including its portfolio allocation and historical performance. The fund utilizes a multi-manager approach, investing in 10-15 hedge fund strategies across global markets that aim to deliver returns with low correlation to traditional benchmarks. In August 2013, the fund was down 0.2% with half of its 16 underlying managers positive and half negative. The document also provides details on fund terms, fees, and the investment experience and background of the fund manager.
This document provides an overview of the IDFC Focused Equity Fund. The fund is an open-ended equity scheme that invests in a concentrated portfolio of a maximum of 30 stocks with a multi-cap focus. It aims to invest in companies with superior quality and growth characteristics. The fund manager believes returns are driven by identifying the right stocks and allocating sufficiently to them. Currently, the fund is overweight in sectors such as information technology, telecom, and healthcare.
Check our Quantic Asset Management Tirthas X1 Retail Factsheet for the month of May 2019. Find out more about our services https://www.quantic-am.com/en/
CHAPTER 5 FINANCIAL STATEMENTS ANALYSIS - II part i.docxHome
This document discusses various financial analysis concepts and ratios. It provides examples to illustrate how ratios can provide insight into a company's performance and prospects. Specifically, it discusses how price-earnings ratios reflect investor expectations about future earnings, how the return on assets ratio measures operational performance, and how financial leverage can enhance shareholder returns if assets earn a higher rate of return than funding costs. The document also considers factors like industry volatility that may impact shareholder preferences around leverage.
Check our Quantic Asset Management Investo Retail Factsheet for the month of April 2019. Find out more about our services https://www.quantic-am.com/en/
Partners Capital is an investment management firm that provides its view of the future of private equity investing over the next 5 years based on historical trends and forecasts. It projects that private equity assets under management will increase from $4.5 trillion to $6 trillion from 2017 to 2021 as committed but uncalled capital grows 80% and net asset value increases due to strong returns. It also examines projected returns for large cap buyout funds under different earnings growth and valuation scenarios, finding returns of 6.7-12% are possible. The document provides context and sources for its projections primarily using data from Preqin and the firm's own models.
Hilltop decorrelated fund october 2013 factsheetJohn Robertson
The Hilltop Decorrelated Fund gained 1.2% in October. After months of offsetting winning and losing positions cancelling each other out in the first half of the year, the fund has seen a return to normality over the past 4 months with more winning than losing positions. The fund employs a multi-manager strategy investing in 12-20 underlying hedge funds pursuing decorrelated returns across asset classes like equities, fixed income, currencies and commodities. The target is an average annual return of 10-12% with low volatility and correlation to markets.
Insight Summit 2017: Intelligent Risk Taking - Active vs passive investing
Active vs. passive – practitioner perspectives - Tim Hodgson, Head of the Thinking Ahead Institute, Willis Towers Watson
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
Insight Summit 2017: Intelligent Risk Taking
Portfolio construction today - Cliff Asness, Managing & Founding Principal, AQR Capital Management
Presented at the third annual Insight Summit conference held on 7 November 2017 by London Business School’s AQR Asset Management Institute.
This document provides key information about the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap companies and the remaining amount in mid and small cap stocks and debt instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high as it predominantly invests in equity. The document outlines the asset allocation, investment strategy and risks of the fund.
This document summarizes research on the momentum factor in equities. It finds that stocks with strong recent performance tend to continue outperforming, known as the momentum effect. The biggest challenge for capturing momentum is its high inherent turnover. Using optimization in portfolio construction can successfully capture momentum while controlling turnover. Adding momentum to portfolios with other factors like value provides diversification benefits due to its negative correlation with value.
The Breakout portfolio provides concise summaries of its performance, strategy, and risks. It has generated positive returns since February 2017 through trend following across currencies and equity indexes. The strategy analyzes markets 24/7 to identify strong trends and implements 90% of trades intraday to reduce risk, while maintaining diversification through multiple financial instruments. However, the portfolio is suited for medium-risk investors due to potential short-term losses and fluctuations from its use of leverage and correlation to changing market conditions.
IDFC Large Cap Fund_Key information memorandumRahulpathak154
This document provides key information about the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap companies and the remaining amount in mid and small cap stocks and debt instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high as it predominantly invests in equity. The document outlines the asset allocation, investment strategy and risks of the fund.
IDFC Large Cap Fund _Key information memorandumJubiIDFCEquity
This document provides key information about the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap companies and the remaining amount in mid and small cap stocks and debt instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high as it predominantly invests in equity. The document outlines the asset allocation, investment strategy and risks of the fund.
IDFC Large Cap Fund_Key information memorandumIDFCJUBI
The document is a Key Information Memorandum for the IDFC Large Cap Fund, an open-ended equity scheme predominantly investing in large cap stocks. The objective is to generate capital growth from predominantly investing in large cap stocks. It will invest 80-100% in large cap stocks and the remaining amount in mid and small cap stocks, debt, and money market instruments. The fund follows an active investment strategy of identifying quality large cap companies with strong fundamentals and growth potential. The risk is moderately high since it predominantly invests in equity.
IDFC Core Equity Fund_Key information memorandumIDFCJUBI
The document provides key information about the IDFC Core Equity Fund, an open-ended equity scheme that invests in both large and mid cap stocks. The fund seeks to generate long-term capital growth by investing predominantly in these types of stocks. It aims to invest at least 70% of assets in equities and equity-related instruments, focusing on large and mid cap companies. The fund also provides information on the asset allocation, investment strategy, risks associated with the scheme and plans/options available to investors.
IDFC Core Equity Fund _Key information memorandumRahulpathak154
The document provides key information about the IDFC Core Equity Fund, an open-ended equity scheme that invests in both large cap and mid cap stocks. The fund seeks to generate long-term capital growth by investing predominantly in these types of stocks. It aims to invest at least 70% of total assets in large and mid cap equities. The fund also provides information on the asset allocation, investment strategy, risk factors associated with the fund and its plans/options. As of May 31, 2020, the fund had 103,405 folios with assets under management of Rs. 2000.85 crores.
IDFC Core Equity Fund _Key information memorandumJubiIDFCEquity
The document provides key information about the IDFC Core Equity Fund, an open-ended equity scheme that invests in both large cap and mid cap stocks. The fund seeks to generate long-term capital growth by investing predominantly in these types of stocks. It aims to invest at least 70% of total assets in large and mid cap companies. The fund carries market risks associated with equity investing and aims to mitigate these through diversification and a prudent investment strategy. As of May 2020, the fund had over 103,000 folios and assets under management of Rs. 2000.85 crores.
IDFC Dynamic Equity Fund_Key information memorandumJubiIdfcHybrid
The document provides a key information memorandum for the IDFC Dynamic Equity Fund. The fund is an open-ended dynamic asset allocation fund that aims to generate long-term capital appreciation with lower volatility through systematic allocation of funds into equity and equity-related instruments. It also aims to generate income and capital appreciation through investment in debt and money market instruments. The fund uses a quantitative model to determine equity exposure based on the Nifty 50 PE ratio. It can invest 65-100% in equities, equity derivatives and 0-35% in debt. The primary risks associated with the fund are market risk, liquidity risk, credit risk and risks associated with equity and debt investments.
IDFC Dynamic Equity Fund_Key information memorandumIDFCJUBI
The document provides a key information memorandum for the IDFC Dynamic Equity Fund. The fund is an open-ended dynamic asset allocation fund that aims to generate long-term capital appreciation with lower volatility through systematic allocation of funds into equity and equity-related instruments. It also aims to generate income and capital appreciation through investment in debt and money market instruments. The fund uses a quantitative model to determine equity exposure based on the Nifty 50 PE ratio. It can invest 65-100% in equities, equity derivatives and 0-35% in debt. The primary risks associated with the fund are market risk, liquidity risk, credit risk and risks associated with equity and debt investments.
This document provides an overview and summary of the Investec Global Franchise Fund. It discusses the fund's objective of investing in quality, global companies with strong business models and management. It notes some of the fund's key attributes like its current fund size, launch date, geographic and sector allocations, and track record of outperforming benchmarks with lower volatility.
IDFC Regular Savings Fund_Key information memorandumJubiIdfcHybrid
- The IDFC Regular Savings Fund is an open-ended hybrid scheme that invests predominantly in debt instruments.
- The primary objective is to generate regular returns through investment predominantly in debt instruments. The secondary objective is to generate long-term capital appreciation by investing a portion in equity securities.
- It aims to provide regular income and capital appreciation over medium to long term through investment predominantly in debt and money market instruments with balance exposure to equity.
IDFC Regular Savings Fund_Key information memorandumIDFCJUBI
- The IDFC Regular Savings Fund is an open-ended hybrid scheme that invests predominantly in debt instruments.
- The primary objective is to generate regular returns through investment predominantly in debt instruments. The secondary objective is to generate long-term capital appreciation by investing a portion in equity securities.
- It aims to provide regular income and capital appreciation over medium to long term through investment predominantly in debt and money market instruments with balance exposure to equity.
Warren Buffett recently discussed his win of a decade long wager in the 2017 Annual Report of Berkshire Hathaway. His winning claim was that an investment in a US equity index would outperform a selected group of hedge funds over the period. Although, over time, equity is a strong return generating asset class, the majority of investors are not in the privileged position where they not only have the luxury of time and emotional fortitude, but also sufficient excess capital to be able to fully invest in such a risky asset class to reap the reward that comes with time. The role of hedge funds in the portfolio construction of these investors is explored.
IDFC Money Manager Fund_Key information memorandumIDFCJUBI
The document provides key information about the IDFC Money Manager Fund, an open-ended debt scheme that invests predominantly in money market instruments. The objective is to generate stable returns with low risk by investing in such short-term debt securities. It aims to provide short-term optimal returns with relative stability and high liquidity. The principal will be at moderately low risk. The fund focuses on investing in money market instruments with maturity of up to one year.
IDFC Money Manager Fund_Key information memorandumJubiIDFCDebt
The document provides key information about the IDFC Money Manager Fund, an open-ended debt scheme that invests predominantly in money market instruments. The fund aims to generate stable returns with low risk by investing substantially in short-term debt and money market securities. It predominantly invests in instruments with maturity of up to one year, including treasury bills and commercial paper. The fund benchmarks its performance against the Nifty Money Market Index.
IDFC Equity Savings Fund_Key information memorandumIDFCJUBI
This document provides key information about the IDFC Equity Savings Fund, including its objective, asset allocation, investment strategy and risk profile. The fund seeks to generate long-term capital growth and income by investing predominantly in equity, equity-related securities including arbitrage and derivatives, as well as fixed income securities. Under normal circumstances the fund will allocate 65-80% to equities and equity-related instruments and 20-35% to debt and money market instruments. The investment strategy involves identifying arbitrage opportunities in the equity markets and maintaining a diversified portfolio without market cap or sector bias. The risks associated with the fund include market risk, liquidity risk and credit risk from its debt investments.
IDFC Equity Savings Fund_Key information memorandumJubiIdfcHybrid
This document provides key information about the IDFC Equity Savings Fund, including its investment objective, asset allocation, investment strategy and risk profile. The fund seeks to generate long term capital growth and income by investing predominantly in equity, equity-related securities, arbitrage opportunities, and fixed income securities. Under normal circumstances, it will allocate 65-80% to equities and equity derivatives and 20-35% to debt and money market instruments. The investment strategy uses both long and short positions in equity derivatives to generate returns. The risks associated with the fund include market risk, liquidity risk, credit risk and derivatives risk.
This document provides a key information memorandum for the IDFC Nifty ETF scheme. The following information is highlighted:
- The scheme aims to track the Nifty 50 index by investing at least 95% of its assets in stocks comprising the index.
- It is suitable for long-term wealth creation for investors looking to invest in equity and equity-related securities that make up the Nifty 50 index.
- The scheme aims to provide returns before expenses that closely correspond to the total returns of the underlying index, subject to tracking errors. It uses a passive investment strategy and will not try to beat the index.
This document provides a key information memorandum for the IDFC Nifty ETF scheme. The following information is highlighted:
- The scheme aims to track the Nifty 50 index by investing at least 95% of its assets in stocks comprising the index.
- It is suitable for long-term wealth creation for investors looking to invest in equity and equity-related securities that make up the Nifty 50 index.
- The scheme aims to provide returns before expenses that closely correspond to the total returns of the underlying index, subject to tracking errors. It uses a passive investment strategy and will not try to beat the index.
This document provides information on the Ecuador Residential & Commercial Property Fund (ERCP) I-Shares fund, including its investment objective, fees, performance, and asset allocation. The fund aims to acquire residential and commercial properties in Ecuador for rental income and capital appreciation. It offers a guaranteed 12.5% annual return paid out annually. As of July 2016, the fund's top holdings included local money markets, bank repossessed residential properties, and commercial properties.
Similar to Investing for all seasons (sep 2018) (20)
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
1. Investor sentiment is often affected by the most recent events and since sentiment is a powerful
driver of both expectation and decision making, it is of utmost importance for any investor to
continually, and soberly balance their views with longer term perspectives.
To create context, Graph 1 below shows the cumulative return of the RCIS THINK Growth QI
Hedge Fund (“Our Fund”) and the JSE All Share Index TR (“JSE”) since inception and Graph 2
the calendar year breakdown of the same return, displayed in blue and black respectively.
In looking at these graphs one might be inclined to focus on the potential of correctly timing
investments in order to have fully benefited from hedge fund exposure in 2015 and the equity
index returns of 2017. Realistically however, the start of 2015 brought no clear promise of strong
returns from both long and short positions held by hedge funds, nor did 2017 pledge a 20.95%
equity return, which was largely due to Naspers’ calendar year return of 71.80%. In fact, rather
than correctly timing the market it would have been more likely that a sentimental investor
increased equity exposure towards the end of 2017 only to be exposed to the tail end of the equity
rally followed by an incredibly volatile 2018, that brought a year to date loss of -3.84% (-8.00% for
SWIX) as at 30 September 2018.
How then should we invest?
As market shocks and surprises are abundant, an
investment strategy based on timing investments will be
lacking compared to one based on strategically
constructing portfolios for the long term. If one cannot
effectively time the market, diversification should rather
make a portfolio adaptable to any type of market. This
can be done by constructing a portfolio that is able to
sufficiently protect invested capital even when
investment views prove to be wrong or amidst severe
market shocks, and yet participate well when
opportunities arise.
Investing for all Seasons
By Elmien Wagenaar & Kobus Jansen van Vuuren
Comment:
September 2018
90
100
110
120
130
140
Oct2014
Jan2015
Apr2015
Jul2015
Oct2015
Jan2016
Apr2016
Jul2016
Oct2016
Jan2017
Apr2017
Jul2017
Oct2017
Jan2018
Apr2018
Jul2018
CumulativeReturn
Graph 1: Cumulative Returns
1 Nov 2014 to 30 Sep 2018
JSE All Share Index TR
RCIS THINK Growth QI Hedge Fund
5.13%
2.63%
20.95%
-3.84%
21.41%
-0.94%
5.91%
1.49%
-10%
-5%
0%
5%
10%
15%
20%
25%
2015 2016 2017 2018 YTD
CalendarYearReturns
Graph 2: Calendar Year Return
to 30 Sep 2018
JSE All Share Index TR
RCIS THINK Growth QI Hedge Fund
“If one cannot
effectively time the
market, diversification
should make a portfolio
adaptable to any type
of market”
Sources: Realfin Fund Services, JSE
2. The THINK strategy was developed within a private client asset management environment over a
16-year period specifically for clients seeking exposure to the alternative source of return hedge
funds can provide. These investors however did not necessarily appreciate the often large
sacrifices of upside potential typically necessary to protect capital at all costs. In order to provide
a solution to these clients, a hedge fund strategy was developed with the following priorities
• First priority: Return generation through hedge fund skills
• Second priority: Good risk management
The 2015 return displayed the strong return generating ability of the alternative strategy, while
2018 showed strong downside protection.
The more granular outcome of this strategy is displayed in Graph 3 and Graph 4, which
respectively show our Fund’s monthly returns in JSE down-months and JSE up-months. Our
Fund’s ability to adapt to any market can be witnessed in the effective downside protection
producing returns that are uncorrelated to the JSE in equity market negative months, while in
equity up-months our Fund is able to sufficiently participate in equity returns, as can be seen by
the positive trendline in Graph 4.
Note that our Fund showed some negative returns while the JSE was down and some when the
JSE was up. However, the cumulative effect of protection and participation has resulted in the
outperformance of the JSE since inception as displayed in Graph 1. The alternative sources of
return enabled our Fund to both protect invested capital and generate return at times when
equities did not. Hedge Fund exposure is therefore a very beneficial diversifier to a more
strategically constructed portfolio.
September 2018
-4%
-2%
0%
2%
4%
-5% -4% -3% -2% -1% 0%
THINKMonthlyReturns
JSE Monthly Returns
Graph 3: RCIS THINK Growth QI Hedge
Fund Returns in JSE Down-months
1 Nov 2014 to 30 Sep 2018
-1%
0%
1%
2%
3%
0% 2% 4% 6% 8%
THINKMonthlyReturns
JSE Monthly Returns
Graph 4: RCIS THINK Growth QI Hedge
Fund Returns in JSE Up-months
1 Nov 2014 to 30 Sep 2018
Sources: Realfin Fund Services, JSE
3. IMPORTANT INFORMATION
Collective Investment Schemes are generally medium- to long-term investments. The value of participatory interests (units) may go down as well as up and past
performance is not necessarily a guide to future performance. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. A
schedule of fees and charges and maximum commissions, is available on request from RCIS. RCIS does not provide any guarantee in respect to the capital or the
return of the portfolio. RCIS reserves the right to close the fund to new investors if we deem it necessary to limit further inflows in order for it to be managed in
accordance with its mandate. CIS prices are calculated on a net asset basis, which is the total value of all the assets in the portfolio including any income accruals
and less any permissible deductions (brokerage, STT, VAT, auditor’s fees, bank charges, trustee and custodian fees and the annual management fee) from the
portfolio divided by the number of participatory interests (units) in issue. Forward pricing is used. The Fund's Total Expense Ratio (TER) reflects the percentage of
the average Net Asset Value (NAV) of the portfolio that was incurred as charges, levies and fees related to the management of the portfolio. A higher TER does
not necessarily imply a poor return, nor does a low TER imply a good return. Calculations are based on actual data where possible and best estimates where
actual data is not available. The manager has applied its mind in the calculation of the TER, taking into account the application of the ASISA standard for CIS
securities and applying it in the context of hedge fund portfolios, and using fair estimates, where necessary, to arrive at a figure that is materially correct without
being misleading. The Manager holds the view that the TER excl. performance fees represents a reliable figure until a 12 month track record exists, as any TER
reporting including performance fees is likely to be unreliable and potentially misleading as performance fees cannot be estimated/annualised without forecasting
portfolio growth and misleading investors. Performance has been calculated using net NAV to NAV numbers with income reinvested. The performance for each
period shown reflects the return for investors who have been fully invested for that period. Individual investor performance may differ as a result of initial fees, the
actual investment date, the date of reinvestments and dividend withholding tax. Full performance calculations are available from the manager on request. The
investment performance is for illustrative purposes only. The investment performance is calculated by taking the actual initial fees and all ongoing fees into
account for the amount shown. Income is reinvested on the reinvestment date. Other fees include the permissible deductions of brokerage, STT, VAT, bank
charges, trustees and custodian fees incurred in the ordinary course of running the Fund. The Portfolios are third-party named portfolios, managed by Think
Capital Investment Management Proprietary Limited (“THINK.CAPITAL”), an authorised financial services provider. RCIS retains full legal responsibility for these
Portfolios as manager in terms of CISCA. Where foreign securities are included in a portfolio there may be potential constraints on liquidity and the repatriation of
funds, macroeconomic risks, political risks, foreign exchange risks, tax risks, settlement risks; and potential limitations on the availability of market information.
Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. The investor acknowledges the
inherent risk associated with the selected investments and that there are no guarantees. Where you select a Portfolio which is a fund of funds portfolio, it invests in
portfolios of collective investment schemes that levy their own charges, which could result in a higher fee structure for the fund of funds. Excessive withdrawals
from the fund may place the fund under liquidity pressure and in such circumstances, a process of ring-fencing of withdrawal instructions and managed pay-outs
over time may be followed. Where all required documentation is not received before the stated cut off time RCIS shall not be obliged to transact at the net asset
value price as agreed to. Funds are priced monthly depending on the nature of the Fund. Prices are published monthly and are available on the RCIS website.
RealFin Collective Investment Schemes (RF) Proprietary Limited is registered and approved by the Financial Sector Conduct Authority as a manger of Collective
Investment Schemes approved in terms of the Collective Investment Schemes Control Act and has delegated the investment management function to
THINK.CAPITAL an authorised financial services provider (FSP 46714) in terms of the FAIS Act, a category IIA financial services provider. Further information on
the RCIS THINK Growth QI Hedge Fund can be found on RCIS website including brochures, application forms and annual and half-yearly annual reports.
DISCLAIMER
This document is for information purposes only and does not constitute or form part of any offer to issue or sell or any solicitation of any offer to subscribe for or purchase any particular
investments. Opinions expressed in this document may be changed without notice at any time after publication. We therefore disclaim any liability for any loss, liability, damage (whether
direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable directly or indirectly to the use of or reliance upon the
information.
RCIS - Management Company
Company Registration Number
2013/170284/07
Physical Address
1st Floor, Silverberg Terrace, Steenberg
Office Park, Silverwood Close, Tokai,
Cape Town, 7945
Postal Address
Suite 25, Private Bag X16, Constantia,
7848, Cape Town
Telephone number
+27 21 701 3777
Email Address
admin@realfin.co.za
Website
www.realfin.co.za
THINK.CAPITAL - Fund Manager
Company Registration Number
2014/171403/07
Physical Address
Unit F12, Willowbridge Centre, 39 Carl
Cronje Drive, Tyger Valley, Cape Town
Postal Address
6 Drostdy Street, Panorama, Parow, 7500
Telephone number
+27 21 001 2372
Email Address
info@thinkcapital.co.za
Website
www.thinkcapital.co.za
Financial Services Provider Number
FSP 46714
Produced on 9 October 2018
Website: www.thinkcapital.co.za
Email: info@thinkcapital.co.za
Telephone: +27 21 001 2372