GLOBAL ASSET ALLOCATION

Transcription

1 THE LFP SKYBOUND GLOBAL ASSET ALLOCATION FUND

2 GLOBAL EXPOSURE

3 INVESTMENT STRATEGY The Global Asset Allocation ( GAA ) Fund is a thematic, high conviction fund that invests in the most attractive themes around the globe, through a combination of diversified and liquid investments. The Fund is pro-actively managed based on these changing themes. INVESTMENT UNIVERSE The Fund invests across all instruments, including (but not limited to) managers, direct securities and indices. PORTFOLIO CONSTRUCTION The selected themes have longevity; the Fund invests via a range of diversified but specialist instruments and across various geographies and asset classes.

4 GAA Track Record & Performance CUMULATIVE FUND PERFORMANCE 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% -2% -4% Skybound GAA (USD) Equities (MSCI World Index) Cash (3 month Libor - USD) + 4% TRACK RECORD in US DOLLARS (Net of Fees) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL % 2.08% 2.08% 0.41% 0.40% 0.87% % 3.06% % 3.10% 2.36% 1.45% 2.77% -1,47% -0,18% 8.18% PERFORMANCE COMPARISON NAV 1 MONTH 1 YEAR 3 YEAR INCEPTION LFP Skybound GAA Fund $ % 8.9% N/A 5.9% Equities (MSCI World Index) - 2,33% 15.8% N/A 4.0% FUND STATISTICS DOWNSIDE RISK VOLATITLITY SHARPE RATIO CORRELATION SORTINO RATIO LFP Skybound GAA Fund 1.6% 7.0% Equities (MSCI World Index) 3.2% 5.2%

5 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Aug 15 Sep 15 Oct 15 Nov 15 Dec 15 Jan 16 Feb 16 Mar 16 Apr 16 May 16 Jun 16 Jul 16 Aug 16 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 16 Jul 17 Equity - Cons Disc Equity - Cons Staples Equity - Energy Equity - Financials Equity - Health Care Equity - Industrials Equity - IT Equity - Materials Equity - Telecos Equity - Utilities Equity - Real Estate Index - Europe (ex UK) Index - UK Index - Hong Kong Index - Japan Index - Canada Index - Switzerland Index - Australia Index - USA Index - Global Equities Index - Global Bonds Sov Bonds - USA Sov Bonds - Japan Sov Bonds - Canada Sov Bonds - Germany Sov Bonds - Australia Sov Bonds - UK FX - Japan FX - EU FX - Switzerland FX - UK FX - USA FX - Norway FX - New Zealand FX - Canada FX - Australia FX - Sweden FX - EMG Cash GAA Asset Allocation & Drawdown Analysis -10% ASSET ALLOCATION NET BASIS 30% 25% 20% 15% 10% 5% 0% -5% -15% DRAWDOWN ANALYSIS 0% -2% -4% -6% -8% -10% -12% -14% Equities (MSCI World Index) Skybound GAA (USD)

6 GAA Investment Process INVESTMENT PROCESS CONSTANT RESEARCH AND REGULAR DIALOGUE WITH SPECIALISTS are used to select themes. Once chosen, their risk/reward is identified for inclusion subject to the Fund's parameters. THEME SELECTION ONGOING RESEARCH STEP 01 STEP 02 STEP 03 STEP 04 THE UNDERLYING INVESTMENTS COMPRISE SPECIALIST MANAGERS BECAUSE OF THEIR PROVEN EXPERTISE AND SUPERIOR RISK CONTROL. The latter is evident in the simulated performance history - The Fund has very low reliance on the market for its returns. GLOBAL VIEWS IDENTIFY THE MOST ATTRACTIVE THEMES AROUND THE GLOBE through a combination of different and diversified styles. Themes have varying longevity but are generally of a medium to long-term nature (18 to 24 months). PORTFOLIO CONSTRUCTION THE FUND ADOPTS A CONVICTION APPROACH TO INVESTING IN ITS THEMES; but the number of underlying investments used to express them varies. There are no set limits for the number of underlying investments, but the Fund will always be diversified for risk management purposes.

7 GAA Team Jabir Sardharwalla: Group Chief Investment Strategist/Compliance Officer (UK) Prior to his joining Skybound in London, Jabir worked for Hasma Capital Advisors and Punter Southall Financial Management as Chief Investment Officer. Before gaining a Diploma in Marketing, Jabir was a graduate of the Warwick Business School and North London University and he holds a BA (Hons) degree in Accounting and an MBA. Clifford Warren Chairman & Founder Cliff is currently Chairman of the Skybound Group and was both Founder and Managing Director of Blue Ink Investments (Pty) Ltd, which was the first South African company to establish one of the largest fund of Hedge Funds in South Africa. He is now primarily involved in the development of Skybound s global business initiatives, establishing a number of strategic alliances and mapping the direction of the Skybound Group. Robert Warren: Director Robert is a charterholder CFA and holds an Investment Management Certificate from the UK Society of Investment Professionals. He is also an attorney of the High Court of South Africa and Solicitor of the Supreme Court of England & Wales. Prior to his appointment as a Director of LC Abelheim Ltd, Robert was Managing Director & Managing Counsel at BNY Mellon Investment Management in UK. Theodore Qi Shou: Group Chief Investment Officer Theodore joined Skybound in 2011 and acts as International Chief Investment Officer. With a background in academia in China. Theodore started his finance career at HSBC, where he was mostly involved in manager selection and portfolio construction. He also had experience and success in managing multi-asset portfolios for individual clients and family offices. He worked in London, New York, Geneva and Hong Kong. Theodore holds Master s and Bachelor s degrees in Economics. He is a CFA Charterholder and a CAIA Charterholder. Conrad Amm: Director Fund Management Conrad has a B.Bus.Sc Finance honours degree, majoring in Economics and Finance, from the University of Cape Town. He has over 19 years of relevant investment and business experience in South Africa and abroad. Prior to joining Skybound Capital in March 2010, Conrad was a Director of Blue Ink Investments and was a member of their Investment Committee for more than 10 years. He is currently a Director of Skybound Capital, a member of their Investment Committee and is actively involved in business development.

8 The Skybound Team Investment Management Team Skybound s investment decision-making process is conducted by a robust and diverse team, with multiple layers of oversight and internal due diligence. All Skybound funds are researched with a global team of qualified investment professionals. INVESTMENT MANAGEMENT TEAM SENIOR MANAGMEENT CORE INVESTMENT TEAM KEY PROFESSIONAL TEAM Conrad Amm Director Fund Management Theodore Shou Group Chief Investment Officer Cliff Warren Group Chairman Theodore Shou Group Chief Investment Officer Devon Olander Head Of Operations and Lead Prism Manager Courtney Botha Senior Research Analyst Lee Dalley Director Business Development Bridgitt Brink Head of Corporate Affairs Nico Breed Chief Financial Officer David Rundle Director Business Development Rob Baillie Director Business Development Jabir Sardharwalla Group Chief Investment Strategist Robert Warren Legal Advisor Holly Rudman IFA and Client Liaison Caroline Fuchsloch Research Analyst and Portfolio Manager Siegmund Thetard Senior Research Analyst Lyon Botha Fund Accountant and Research Analyst Tawanda Makurumidze Accountant Ross Muller Research Analyst Chad Cruickshank Research Analyst Matthew Pearce Marketing, Communications and Business Development Luc du Plessis Legal Advisor Baron Naude Legal Advisor

9 Skybound Group Global Presence Geographic footprint of Skybound licenced offices (indicated by ) and active presence (indicated by ). London Bermuda Hong Kong Cape Town Mauritius New York Miami Bermuda London Jersey Vaduz Dubai Hong Kong Beijing Tokyo Shanghai Accra Nairobi Lusaka Gaborone Johannesburg Durban Port Elizabeth Cape Town Mauritius Perth Brisbane Sydney

10 Group Licences, Awards & Recognition BERMUDA Skybound Capital is licensed by the Bermuda Monetary Authority. SHORTLIST 2015 Skybound China Red UNITED KINGDOM Skybound Capital is licensed to provide regulated products and services from the Financial Conduct Authority in the United Kingdom. SOUTH AFRICA Skybound Capital has a Category I, II and IIA License from the Financial Services Board in South Africa. RANKED #3 IN TOP 10 Skybound China Red Fund of Funds Emerging Market Category in September 2014 RANKED IN TOP 10 Skybound Prism Income Fixed Income ABS/Sec. Loans Category in 2014 MAURITIUS Skybound Capital has a GBL1 License under the Financial Services Commission in Mauritius. WINNER Skybound China Red Asian Fund of Hedge Fund of the Year For 2013 & 2014 HONG KONG Skybound Capital is licensed to provide asset management services from the Securities & Futures Commission in the Hong Kong. FINALIST Skybound China Red Funds of Hedge Funds Specialist AIMA: Skybound Capital is a member of the Alternative Investment Management Association. AIMA is committed to developing industry skills and education standards and works closely with regulatory bodies across the globe. RANKED IN TOP 10 Skybound Firecrest South African Fund of Hedge Funds RANKED IN TOP 10 Skybound Managed Equities South African Fund of Hedge Funds

11 GAA Investment Terms FUND CLASS RETURN OBJECTIVE VOLATILITY CURRENCY CLASSES MINIMUM INVESTMENT ADDITIONAL INVESTMENT PRICING SUBSCRIPTIONS REDEMPTION NOTICE PERIOD GLOBAL ASSET ALLOCATION FUND 8% to 10% per annum, over any three to five year time period, net of fees. Moderate to High USD; GBP; EUR USD or equivalent if a direct investor. Minimums do not apply to investors using platforms, provided the platform has met the minimum collectively. USD or equivalent Daily, before 15h00 Luxembourg Time on the valuation date Daily, before 15h00 Luxembourg Time on the valuation date Before 15h00 Luxembourg Time at least two business days preceding the relevant valuation date. Payment within five business days of redemption day. MANAGEMENT FEE 2% per annum (Class A and B) PERFORMANCE FEE INVESTMENT MANAGER INVESTMENT ADVISOR ADMINISTRATOR BANKERS & CUSTODIAN AUDITORS ISIN NUMBERS 10% (above a 6% annual hurdle and subject to a high water mark) Luxembourg Fund Partners S.A. Skybound Capital (UK) Limited RBC Investor Services Bank S.A. RBC Investor Services Bank S.A. Price Waterhouse Coopers USD: LU (Class A) GBP: LU (Class B)

12 The Skybound Service Providers AfrAsia Bank Limited headquartered in the Mauritius International Financial Centre, AfrAsia Bank Limited is a boutique financial services provider, with the ability to tailor innovative banking solutions for both the local and international markets. BLC Robert acts as international legal counsel to L C Abelheim. BLC Robert is a leading firm with an outstanding reputation. It assists with inbound investments in Mauritius and across Africa. Cliffe Dekker Hofmeyr acts as legal counsel to Skybound in South Africa. 115 Directors and 250 Lawyers makes CDH one of the largest full service law firms An exclusive alliance with DLA Piper gives truly global experience and access to 8000 people and 4200 lawyers across 30 countries Eversheds Attorneys is a boutique law firm with two offices in Johannesburg, one in Cape Town, South Africa and one in Port Louis, Mauritius. Haysmacintyre is a leading firm of Chartered Accountants and tax advisers and acts as the auditor for our UK operation. Investec CCM is an internet-based system that allows the use of Investec s online banking facility to provide a secure environment in which to transact on behalf of clients. IrwinMitchell Solicitors, the London-based, boutique legal and wealth advisory business, which specialises in advising high net worth private clients. Lancasters acts as an independent auditor based in Mauritius and member of the Geneva Group International. GGI Geneva Group International is a worldwide alliance of well-established and experienced accounting, consulting and law firms that are committed to providing clients with specialist solutions for their international business requirements. LC Abelheim Ltd is an international Trust & Fiduciary Service Provider. LGT Group was founded in 1920 as LGT Bank in Liechtenstein. It acts as the Bank and Custodian of Skybound s private client accounts. Norton Rose acts as international legal counsel to the Skybound Group. Norton Rose is a leading international legal practice with more than 2,600 lawyers and offices across Europe, Asia Pacific, Canada, Africa and the Middle East. Rand Merchant Bank acts as the company s bankers. It was started by entrepreneurs; Paul Harris, Laurie Dippenaar and GT Ferreira, as a niche, structured-finance house. The founders vision, drive and complementary strengths transformed their fledgling business into one of South Africa s leading investment banks. RisCura provides the independent analysis and independent verification. Sanne provides a complete range of outsourced investment administration services to the asset management industry. Shrand & Ekerman Inc. acts as an independent auditor to the underlying funds that are managed by the management company. The company has been in operation for over 70 years. Standard Bank has had a presence in both Jersey and the Isle of Man for over 20 years. There is also security of banking with an International Banking group with a presence in 30 countries around the globe. In 2009, 2010, 2011 and 2012 we were voted Highly Commended for Best International Structured Product Provider by Professional Advisor magazine. The IDS Group acts as an independent administrator to the funds. With more than 170 funds and R33 billion in assets under administration and employing over 90 staff members, IDS has achieved a leading position in administration in South Africa. Working relationships are maintained with more than 65 fund managers. Wong Brothers & Co, Certified Public Accountants, was founded in The Firm has 4 partners and about 90 staff members and is recognised as one of the largest local firms in Hong Kong. The company acts as an independent auditor for our Hong Kong operation.

13 Skybound Disclaimer & Disclosure This presentation (the Presentation ) is issued on a confidential basis by Skybound Capital Limited ( Skybound ) for information purposes only and is subject to change without notice. This Presentation, its contents and any information provided or discussed in connection with it are strictly private and confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose, without the consent of Skybound (provided that you may disclose this Presentation on a confidential basis to your legal, tax or investment advisers (if any) for the purposes of obtaining advice). Acceptance of delivery of any part of the Presentation by you constitutes unconditional acceptance of the terms and conditions of this notice. This Presentation does not itself constitute an offer to subscribe for or purchase any securities, investment product or investment management services. This Presentation is not intended to be relied upon as the basis for an investment decision, and is not, and should not be assumed to be, complete. It is provided for information purposes only. Any investment is subject to various risks, none of which are outlined herein. All such risks should be carefully considered by prospective investors before they make any investment decision. You are not entitled to rely on this Presentation, and no responsibility is accepted by Skybound or any of its directors, officers, partners, members, agents or advisers or any other person for any action taken on the basis of the content of this Presentation. Skybound does not undertake to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies therein which may become apparent. The views, opinions and forecasts expressed in this document are based on Skybound s research, analysis and house views at the time of publication. 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The internal rates of return or IRRs presented on a gross basis do not reflect any management fees, carried interest, taxes and allocable expenses of the kind that will be borne by investors in a fund, which in the aggregate may be substantial. Statements contained in this Presentation that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of Skybound. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, this Presentation contains forwardlooking statements. Actual events or results or the actual performance of the Fund the Fund may differ materially from those reflected or contemplated in such forwardlooking statements. Certain economic and market information contained herein has been obtained from published sources prepared by third parties and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, neither Skybound nor any of its directors, partners, members, officers or employees, agents or advisor or any other person assumes any responsibility for the accuracy or completeness of such information. No person, especially those who do not have professional experience in matters relating to investments, must rely on the contents of this Presentation. If you are in any doubt as to the matters contained in this Presentation you should seek independent advice where necessary. This Presentation has not been submitted to or approved by the securities regulatory authority in any state or jurisdiction. Except for Skybound and certain other identified representatives of the Fund, no person has or will be authorised to give any information or representation relating to this Presentation. This document does not constitute a solicitation, invitation or investment recommendation, and before selecting a financial product or fund. We recommended that investors seek specialised financial, legal and tax advice. There is no assurance that the investment objective of the Fund or any other cell is achievable. Investments in the Fund will be on the terms set out in the Fund s Offering Memorandum and Constitution. The content of this Presentation has not been independently verified nor has it, from a UK perspective, been approved by an authorised person, within the meaning of the UK Financial Services and Markets Act 2000 ( FSMA ), as amended. As an unregulated collective investment scheme, distribution and promotion of Interests in the Fund are restricted for the purposes of section 21 and 238 of FSMA to persons who are Qualifying Investors, being persons who are investment professionals within the meaning of Article 19(5) of the FSMA (Financial Promotion) Order 2005, as amended ( FPO ) or Article 14(5) of the FSMA (Promotion of Collective Investment Schemes) (Exemptions) Order 2001, as amended ( SPO ), sophisticated investors within the meaning of Article 50 of the FPO or Article 23 of the SPO and high net worth companies, unincorporated associations etc. falling within Article 49(2)(1) to (d) of the FPO or Article 22(2)(a) to (d) of the SPO. Where the content of this Presentation is approved by an authorised person, within the meaning of the FSMA ( Authorised Person ), Qualifying Investors also include eligible counterparties and professional clients within the meaning of chapter 3 of Conduct of Business Sourcebook ( COBS ) of the FCA Handbook made by the UK Financial Conduct Authority ( FCA ), certain persons which are exempt from the FSMA prohibition on carrying any regulated activity in the UK without being authorised to do so by the FCA (other than appointed representatives provided the Presentation relates to a regulated activity in respect of which they are exempt), certified sophisticated investors, certified high net worth investors and selfcertified sophisticated investors, in each case within the meaning of COBS 4.12 for whom the Authorised Person considers that an investment in the Fund is likely to be suitable based on a preliminary assessment of these investors profile and objectives. Skybound is not authorised to carry on investment business in the UK, and potential investors are advised that all, or most, of the protections afforded by the UK regulatory system, will not apply to any investment in the Fund. This Presentation is not for distribution to retail customers. In Hong Kong, the document is directed only at Professional Investors (as defined under applicable regulations) and not intended for, and should not be used by, non-professional Investors. PLEASE NOTE This document is used for marketing purposes only and is, therefore, more general in nature. For more detail and accurate information relating to the Fund please info@skyboundcapital.com or speak to one of the team members directly.

14 Skybound Contact Details UNITED KINGDOM 3rd floor, 33 Bruton Street, London, W1J 6QU Tel: Skybound Capital (UK) Ltd is authorised and regulated by the Financial Conduct Authority in the United Kingdom (No ) HONG KONG 21/F, Chuang s Tower, Connaught Road Central, Central, Hong Kong Tel: Skybound Capital (HK) Ltd has a Type 9 Asset Management License from the Securities and Futures Commission of Hong Kong (No. AXR396) MAURITIUS 2 nd floor, Block B, Ruisseau Creole Offices, La Mivoie, Riviere Noire, Mauritius Tel: Skybound Capital Limited has a GBL1 License, a CIS Manager License and an Investment Advisor (Unrestricted) License under the Financial Services Commission in Mauritius (No. C ) BERMUDA c/o Cohort Limited, 41 Cedar Avenue, 5th Floor, Hamilton Bermuda HM12 Skybound Capital (Bermuda) Ltd BMA Number FIST03462 Tel: SOUTH AFRICA Cape Town 7 th floor, Letterstedt House, cnr. Main & Campground Roads, Newlands, 7700 Tel: Skybound Capital (Pty) Ltd has a Category I, II and IIA License from the Financial Services Board in South Africa (No ) SOUTH AFRICA Durban 04 Palm Boulevard, 2A West Palm, Gateway, 4321 Skybound Capital (Pty) Ltd has a Category I, II and IIA License from the Financial Services Board in South Africa (No ) SOUTH AFRICA Johannesburg Commerce Square, 1st floor, Building 2, 39 Rivonia Rd, Sandhurst, Johannesburg, 2196 Skybound Capital (Pty) Ltd has a Category I, II and IIA License from the Financial Services Board in South Africa (No ) SOUTH AFRICA Port Elizabeth 7 Westbourne Road, Richmond Hill, Port Elizabeth, 6001 Skybound Capital (Pty) Ltd has a Category I, II and IIA License from the Financial Services Board in South Africa (No ) info@skyboundcapital.com