1. Fees
†
Maximum Initial Entry Fee% Up to 4.00
Annual Management Charge (AMC)
1% of NAV (Charged at 0.25%
Quarterly in Arrears)
^
Redemption Penalty% 9.90 - 0.00
*Dividends Paid Annually or Reinvested
**Partial Withdrawals Up to 5% p.a, of Initial Investment
†
The Initial Entry Fee is the maximum that might be deducted from your money before it
is invested, however lower fees may apply at the time of investment. Current fees can
be found in the Terms & Conditions and are also available from Pegasus Property
Funds upon request.
^
Early Redemption requests can only be made after the investment has been held for a
minimum of 3 years and early redemption requests made prior to this will be
automatically rejected by the company. The Early Redemption penalty reduces
quarterly (See table in the Terms & Conditions). The Early Redemption notice period is
30 days prior to the relevant dealing day and processed on a QUARTERLY BASIS
ONLY.
*Dividends are paid annually and can be transferred out of the fund or reinvested back
into the fund accumulating year-on-year over the term of the investment until
redemption. We recommend that you reinvest the annual dividends in order to receive
the full benefits of the growth within the funds.
**Partial Withdrawals of 5% p.a. of your initial investment can be withdrawn ONCE every
year after the investment has been held for a certain period of time, free of redemption
penalties. The Partial Withdrawal notice period is 30 days prior to the relevant dealing
day and processed on a QUARTERLY BASIS ONLY (See table in the Terms &
Conditions).
This Fund Factsheet should be read in conjunction with the Brochure and Terms & Conditions. June 2016
Investment Objective
The ECUADOR LAND DEVELOPMENT & CONSTRUCTION FUND (ELDC) I-Shares is an open-ended, actively managed investment vehicle that focuses purely on the strategic
acquisition of direct land for construction of properties for residential and commercial use and local money markets (Policies) in Ecuador. The funds objective is to invest in a balanced
portfolio of high quality prime and undeveloped land using an “added value and income strategy” by acquiring land at heavily undervalued prices predominately concentrated in
Quito, Guayaquil and Cuenca, close to future or existing Government and private infrastructure projects such as; major roads, shopping centres, leisure facilities and universities,
where both growth and sale price potential far exceeds the regional and national average. By developing land though planning permission and sub-dividing the funds aim is to
construct a mixture of low cost, affordable, single and multi-family residential dwellings and commercial buildings using our third party constructor to deliver high quality new “turn key”
properties for the retail market. The fund offers a GUARANTEED RETURN of 10.5% net p.a. in US dollars providing investors with security and liquidity. All underlying assets are
regulated through an independent Trust similar to a private, non-traded REIT (Real Estate Investment Trust) with returns underwritten and secured against property and assets held
within the strategy. Investors can now benefit form investing in the only country in Latin America denominated in a base currency of US dollars mitigating currency risk.
www.pegasuspropertyfunds.com Page 1 of 2
Risk Rating
Very Low Medium Very High
2 3 4 5 6 7
Risk ratings give an indication of the risk level of this fund only in relation to Pegasus
Property Funds overall range of funds.
1
10.5%
Net p.a. Guaranteed*
Land Development & Construction Fund (ELDC)
I-Shares - US dollars
Fund Facts
Sector Property
Asset Class Land & Construction
Domicile Republic of Ecuador
S&P Rating B
Issuer Pegasus Property Funds
Base Currency US dollars
Minimum Timeline (Years) 3
Maximum Timeline (Years) 15
Inception Date April 2016
Number of Assets 3
Number of Underlying Assets 0
Size ($ millions) 9.94
Liquidity% 10.00
Dealing Day
1st - 5th business day of
Each Month
Custodian Bank Ecuador Produbanco
S&P Rating AAA-
Minimum Initial Single Investment in $ 50,000
Minimum Additional Single Investment in $ 10,000
Minimum Regular Investment Per Month in $ 1,000
Minimum Additional Regular Investment Per Month in $ 250
Investment Payment Frequency
Monthly, Quarterly,
Six-Monthly, Annually
Performance as of 30/06/2016
2016 1 Month 3 Months Year-to-Date
IMPORTANT: *Performance is guaranteed and generated through a mixture of projects
such as; off-plan sales, local money markets (Policies) and reduced fees. The
guaranteed return is paid annually or reinvested back into the fund accumulating over
the term of the investment until redemption. Source: Pegasus Property Funds.
I-Share Price in $ 1.0176 1.0176 1.0176
*Performance% 0.875 1.75 1.75

2. Disclaimer: This Fund Factsheet is for private circulation and information purposes for professional investors and introducers ONLY and does not constitute as a personal recommendation,
investment advice, invitation or offer to buy or sell securities in any fund. The information and any opinions have been obtained from or are based on sources believed to be reliable but accuracy
cannot be guaranteed. No responsibility can be accepted for any consequential loss arising from the use of this information. The information is expressed at its date and is issued only to and
directed only at those individuals who are permitted to receive such information in accordance with the applicable laws, rules and regulations of your country of residence. In some countries the
distribution of this information may be restricted and it is your responsibility to find out what those restrictions are and observe them. Pegasus Property Funds cannot be held liable for a breach of
such restrictions. Please always refer to the Brochure and Terms & Conditions. If a fund holds a limited number of assets, the effect of price movements on one of more of the assets will have a
more pronounced effect on the value of your investment than if a larger number of assets are held. If a fund is invested in overseas markets or holds currencies other than US dollars, then currency
exchange rate movements may cause the value of your investment to fall as well as rise. You may not be able to redeem your investment when you want because property in the fund can’t easily
be converted into cash. If this is the case, we may have to suspend dealing meaning we cannot carry out your request to redeem your shares. The valuation of property is generally a matter of the
valuer’s opinion. Property may sell for less than valued which will reduce the funds value. Funds that invest in property related securities (Equities) can provide potentially high returns over the short
to long-term, but such returns will be subject to greater rises and falls than investing in lower-risk assets.
www.pegasuspropertyfunds.com Page 2 of 2
Asset Allocation1 & Top 5 Assets2 as of 30/06/2016
No. Descripition Value in US dollars %
1 Local Money Market (Policies) 7,746,000 77.93
2 Residential Construction Project VIP 1,200,000 12.07
3 Cash & Equivalents 994,000 10.00
4
5
Asset Weighting
10%
12%
78%
Local Money Markets (Policies)
Residential Construction Project VIP
Cash & Equivalents
Regional Breakdown
12%
88%
Custodian Bank
Quito
1
Asset weighting and regional breakdown figures are rounded and may not equal 100%. Sub-divided land is
not listed in pie chart 1, however details of sub-divided land is detailed in the quarterly report for the fund.
Prime and undeveloped land may be in the process of being sub-divided. Unallocated and reserve cash is
held by our custodian bank as detailed in pie chart 2 and transferred into an independent Trust when assets
are purchased.
2
All of the assets in the fund are valued in US dollars by an independent valuer on a monthly basis, and any
valuation of property is generally a matter of valuer’s opinion and valued as “fair market value,” based on the
current market condition. The Net Asset Value (NAV) is based on the combined valuation of all of the assets in
the fund for this share class less accrued liabilities. The above chart only indicates the top 5 assets, may not
equal 100% and may differ from the A-Shares fund. All US dollar values are rounded. All US dollar values are
rounded.
Land Development & Construction Fund (ELDC)
I-Shares - US dollars
ELDC Annualised Returns vs Major Indices
-6.50%
-2.70%
1.10%
4.90%
8.70%
12.50%
FTSE 100 S&P 500 NAREIT Composite NASDAQ
6.98%
2.10%
1.37%
-5.00%
10.50%
ELDC I-Shares
3Performance of Global Indices vs ELDC I-Shares Fund 2015
3
The above chart shows the 2015 performance of major indices the FTSE 100, S&P 500, NAREIT Composite
(The National Association of Real Estate Investment Trusts) and the NASDAQ vs Pegasus Property Funds
ELDC I-Shares fund.