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| Fund Description |
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Pharos Russia Fund is an absolute return hedge fund focused on securities in Russia and the former Soviet Union. The Fund is the top performing Russia Fund over the past 13 years. The Fund has the possibility of using derivatives or going short, and is positioned with a long bias due to the manager's positive outlook for the Russian market.
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| Statistical Data |
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| Monthly performance since inception |
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Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
YTD |
| 2011 |
2.7% |
1.5% |
0.9% |
-2.7% |
-8.1% |
-1.5% |
2.8% |
-15.8% |
-12.6% |
5.2% |
-4.0% |
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-29.2% |
| 2010 |
5.2% |
-2.1% |
11.0% |
2.0% |
-9.0% |
-5.6% |
0.7% |
-0.6% |
3.6% |
2.3% |
3.3% |
11.1% |
21.9% |
| 2009 |
0.7% |
4.1% |
2.6% |
6.3% |
8.8% |
-3.3% |
3.6% |
0.02% |
16.4% |
3.0% |
-0.1% |
0.6% |
50.1% |
| 2008 |
-9.6% |
3.9% |
-2.9% |
3.3% |
11.0% |
-0.8% |
-12.4% |
-7.8% |
-12.9% |
-12.9% |
0.4% |
-2.3% |
-37.7% |
| 2007 |
-1.2% |
0.5% |
3.3% |
-1.7% |
-6.6% |
5.6% |
2.9% |
-3.9% |
4.8% |
4.6% |
-2.7% |
4.5% |
9.6% |
| 2006 |
14.1% |
4.7% |
0.2% |
10.8% |
-13.2% |
-5.5% |
2.8% |
4.7% |
-4.3% |
3.9% |
9.8% |
7.1% |
36.9% |
| 2005 |
1.1% |
10.2% |
-8.6% |
-3.4% |
2.8% |
1.6% |
10.5% |
13.5% |
17.2% |
-8.4% |
8.8% |
10.8% |
66.4% |
| 2004 |
10.2% |
11.6% |
10.0% |
-12.5% |
-3.0% |
3.4% |
-7.8% |
3.0% |
11.4% |
6.3% |
-3.2% |
-2.8% |
26.0% |
| 2003 |
-2.2% |
11.5% |
-1.6% |
11.3% |
5.0% |
7.1% |
-5.0% |
4.2% |
4.5% |
-10.4% |
-0.8% |
5.3% |
32.1% |
| 2002 |
14.1% |
0.5% |
11.0% |
6.1% |
11.5% |
-14.2% |
-9.7% |
0.1% |
-2.4% |
9.1% |
2.3% |
0.0% |
24.5% |
| 2001 |
16.6% |
1.3% |
-0.9% |
2.1% |
10.0% |
9.4% |
-8.6% |
1.6% |
-16.4% |
13.9% |
15.6% |
13.6% |
66.7% |
| 2000 |
12.6% |
5.7% |
38.2% |
-6.6% |
-18.0% |
-11.0% |
9.0% |
19.0% |
-17.7% |
-2.8% |
-21.1% |
-1.5% |
-9.7% |
| 1999 |
-1.3% |
3.3% |
7.4% |
0.9% |
4.7% |
27.3% |
-12.0% |
-11.0% |
-31.3% |
11.1% |
37.0% |
39.3% |
68.1% |
| 1998 |
-30.9% |
13.4% |
6.9% |
-2.2% |
-38.1% |
-18.1% |
-5.1% |
-36.4% |
-8.1% |
-4.3% |
12.8% |
-0.8% |
-75.3% |
| 1997 |
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-19.2% |
-15.8% |
12.7% |
-23.2% |
| Fund Name | Pharos Russia Fund |
| Structure | Open Ended Investment Fund |
| Domicile | Cayman Islands |
| Inception Date | October 1997 |
| Currency | US Dollar |
| Return measure | Absolute |
| Subscriptions | Monthly |
| Redemptions | Monthly |
| Investor Reports | Daily online update & monthly report to investors |
| Minimum investment | USD 1,000,000 |
| Management fee | 2% |
| Perfomance fee | 20% |
| High water mark | Yes |
| Bloomberg | PHAROSR KY |
| ISIN | KYG7052G1091 |
| CUSIP Number | G7052 10 9 |
| VALOR | CH 1988691 |
| Prime Broker | Merrill Lynch Prime Brokerage |
| Custodian | Merrill Lynch Prime Brokerage |
| Fund administration | Custom House (Dublin) |
| Auditor | Deloitte & Touche |
| Legal | Dechert LLP (New York). Walkers (Cayman Islands). Akin Gump (Moscow) |
| | PETER HALLORAN |
| Portfolio Manager |
Twenty-three years financial markets experience, Russia resident since 1995. Pioneered Russian capital markets since their inception, including acquisition on 7.5% voucher market, first placement of local debt (GKOs) to westerners, 3bn privatization bids, 1st IPO in Russia and overall bringing $7.5bn of capital to the market. Founder of Pharos 1997. Ran CSFB brokerage with #1 market share in Moscow 1995-1997 including trading, research, sales and $300mm prop book. Adviser to Soros Fund Mgmt 1999-2000. Ran top-rated local investment bank Aton Capital 2000-2002. Earlier in New York with Morgan Grenfell and Salomon Brothers. B.A. '84 Yale University.
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| Subscription Information |
| Custom House Administration and Corporate Services |
25 Eden Quay Dublin 1, Ireland
Tel. +(353) 1 878 0807 Fax +(353) 1 878 0827
Attn: Michael Mockler michael.mockler@customhousegroup.com
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