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FUND’S HIGHLIGHTS

SIZE

  • Over 87 million EUR in net assets making it the largest fund in the region with a SEE focus
  • More than 25.000 investors, both domestic and international

INVESTMENT FOCUS & STRATEGY

  • Equity-focused strategy covering the capital markets of Southeast Europe, providing great diversification to the major global market indices
  • Flexible and forward-looking approach that seeks out opportunities in all market environments
  • Diversification between beta-generating blue-chip and alpha-seeking high yield stocks

EXPERTISE & TRACK RECORD

  • Founded in Slovenia in 1994
  • Seasoned management team with significant global and regional investment experience
  • Fund has consistently outperformed its benchmark since inception

LIQUIDITY & REGULATION

  • Daily liquidity
  • EU-Compliant UCITS fund, regulated by the ATVP

(Slovenian Securities and Exchange Commission)

Portfolio

Sector and regional diversification

Performance ratio

PORTFOLIO PERFORMANCE AS OF 30-JAN-2015
FUND PERFORMANCE SINCE INCEPTION

Fund performance

CURRENT FUND POSITION

  1. The fund is currently positioned to take advantage of the privatizations taking place throughout South-East Europe and approximately 35% of the portfolio is directly exposed to privatization efforts.
  2. Our valuation models suggest that the companies in the privatization process are still substantially undervalued, with discounts to fair value ranging from 30% to 50%.
  3. Improved macroeconomic conditions, in the region as well as Western Europe, where most of the companies export, in combination with deleveraging are improving both sales volume and profit margins for the companies in South-East Europe.
  4. Over the past two years, the fund has significantly reduced its exposure to banking stocks, thereby lowering its risk exposure to the troubled banking sector.

Market overview

WHY?

  1. Macroeconomic environment throughout the region, although deeply depressed during following the financial crises, is experiencing a solid recovery
  2. Significant deleveraging at both the corporate and consumer level has been taking place of the past several years
  3. Several countries in the region (Croatia, Serbia, BiH, Macedonia) are implementing their own privatization programs for state-owned companies
  4. M&A activity is picking up
  5. South-East Europe has been a region largely overlooked by global investors hence multiples remain low and the opportunity for price appreciation is significant
  6. Expertise and demonstrated track record in the local markets
  7. Portfolio is a balance between beta-generating blue-chip and alpha-seeking high yield stocks

The fund management company was awarded Best Fund Management Team South Eastern Europe 2015 Award by the experts from renowned international magazine Capital Finance International – CFI.co.

If you are interested in this investment option, please contact us for more information.