|
|
| Fund Description |
|
|
Pharos Small Cap Fund seeks to take advantage of market inefficiencies by investing in illiquid securities of companies that are either based in, or generating most of their revenue from, Russia and the CIS. The Fund's strategy is to benefit from the inefficiencies of currently illiquid shares as Russia's economic expansion continues and the market efficiencies broaden. The investment manager is one of the most experienced Russian investment fund managers, with a 13 year track record through up and down markets. These investments are likely to be volatile and are suitable for investors having a long-term investment horizon.
|
|
| Statistical Data |
|
| Monthly performance since inception |
|
| |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
YTD |
| 2010 |
5.1% |
|
|
|
|
|
|
|
|
|
|
|
5.1% |
| 2009 |
-4.5% |
1.4% |
3.8% |
10.0% |
13.0% |
1.4% |
4.5% |
7.3% |
25.5% |
4.2% |
3.9% |
1.9% |
96.6% |
| 2008 |
-4.5% |
4.1% |
-7.5% |
5.7% |
6.3% |
3.2% |
-15.3% |
-8.8% |
-10.0% |
-27.4% |
-9.8% |
-0.6% |
-52.1% |
| 2007 |
3.3% |
3.2% |
5.1% |
-0.1% |
-3.8% |
-1.1% |
3.2% |
-4.7% |
2.5% |
1.5% |
-3.0% |
2.0% |
7.8% |
| 2006 |
15.4% |
7.1% |
0.03% |
3.7% |
-9.7% |
-3.7% |
3.8% |
2.7% |
-2.2% |
5.2% |
5.5% |
7.4% |
39.4% |
| 2005 |
|
|
|
|
|
|
|
|
|
|
|
3.7% |
3.7% |
| Structure | Open Ended Investment Fund |
| Domicile | Cayman Islands |
| Inception Date | November 2005 |
| Currency | US Dollar |
| Valuation | Monthly |
| Minimum investment | USD 500,000 |
| Prime Broker | N/A |
| Custodian | UBS |
| Investment Advisor | Pharos Financial Advisors Ltd. |
| Fund administration | Custom House (Dublin) |
| Auditor | KPMG |
| Legal | Dechert LLP (New York). Walkers (Cayman Islands) |
| Management fee | 2% |
| Perfomance fee | 20% |
| Subscriptions | Monthly |
| Redemptions | Monthly |
| Bloomberg | PHARSCF KY |
| ISIN Number | KYG 706101030 |
| CUSIP Number | G 706101030 |
| VALOR | 2 332 270 |
| | PETER HALLORAN |
| Co-Portfolio Manager |
Twenty-four 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.
| | KEVIN DOUGHERTY |
| Co-Portfolio Manager |
Thirteen years financial markets experience, Russia resident since 1997. Previously Director of International Sales for Deutsche Bank / UFG and Head of International Sales at Uralsib Investment Bank. Helped to create a sales desk at Aton Capital, top-rated local investment bank. Worked on IPO's for many Russian companies in the Consumer Goods and Telecoms, Media and Technology sectors. Earlier in New York with Chase Manhattan Corporation. B.A. '93 UCLA.
|
| 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
|
|
