UFG Russia Select Fund
Flagship long-short, blue-chip liquidity-focused equity risk-managed strategy with fully audited seven year track record
Date range
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redraw graphFund Statistics, as of 30 April 2012
Performance:
1 month: -3.61%YTD: 11.74%
Unit Price*: $3369
*Fund Net Asset Value Per Share After Performance Fee Class A
General
| Fund Type | Open-ended |
|---|---|
| Launch Date | 1.12.2002 |
| Fund Size (30 April 2012) | $157.5 million |
| Bloomberg TK | UFGRUSS KY UFGRUAB KY |
Dealing
| Dealing | Monthly |
|---|---|
| Minimum | $250,000 |
| Next Dealing Day | 1.06.2012 |
| Subscriptions | Monthly |
| Redemptions | Monthly (with 30 days notice) |
Charges
| Management Fee | 2% p.a. |
|---|---|
| Performance Fee | 20% |
| Hurdle Rate | 8% p.a. for Class A 5% p.a. for Class B |
Fund Type
UFG Russia Select Fund was launched 1 December, 2002 and is a Cayman Islands-exempted company. The Fund is denominated in US dollars.
Fund Objective
The Fund aims to maximize risk adjusted returns by investing long and short in equity securities and currencies actively traded in Russia and CIS countries and utilizing hedging strategies to minimize downside risk.
Investment Strategy
The Fund’s core investment strategy is research driven stock selection of “good” companies that are well managed and growing. Once identified, the Manager takes concentrated positions in the Fund with a target minimum size of 3% of NAV and core positions around 8-12% of NAV (maximum 15%). The Manager runs a concentrated portfolio of about 20 to 25 names, combined with a corresponding derivatives hedging strategy. The Fund’s portfolio is typically comprised of Russian local listed equities and ADRs/GDRs (generally 70-80% of the Fund), and contracts for differences, financial futures, stock index futures contracts and options on these contracts (20-30%).
The Manager does not attempt to time the direction of the entire market but keeps the flexibility to increase its short exposure (value of the securities held short) depending on which market opportunities long or short look more attractive. The Fund’s exposure is reviewed on a delta- adjusted basis and derivatives, mainly exchange traded equity options, are used to increase and decrease exposure depending on market conditions.
The Manager can use leverage but generally does not anticipate the Fund being leveraged in excess of 25% of its total assets.
UFG Russia Select Fund was launched 1 December, 2002 and is a Cayman Islands-exempted company. The Fund is denominated in US dollars.
Fund Objective
The Fund aims to maximize risk adjusted returns by investing long and short in equity securities and currencies actively traded in Russia and CIS countries and utilizing hedging strategies to minimize downside risk.
Investment Strategy
The Fund’s core investment strategy is research driven stock selection of “good” companies that are well managed and growing. Once identified, the Manager takes concentrated positions in the Fund with a target minimum size of 3% of NAV and core positions around 8-12% of NAV (maximum 15%). The Manager runs a concentrated portfolio of about 20 to 25 names, combined with a corresponding derivatives hedging strategy. The Fund’s portfolio is typically comprised of Russian local listed equities and ADRs/GDRs (generally 70-80% of the Fund), and contracts for differences, financial futures, stock index futures contracts and options on these contracts (20-30%).
The Manager does not attempt to time the direction of the entire market but keeps the flexibility to increase its short exposure (value of the securities held short) depending on which market opportunities long or short look more attractive. The Fund’s exposure is reviewed on a delta- adjusted basis and derivatives, mainly exchange traded equity options, are used to increase and decrease exposure depending on market conditions.
The Manager can use leverage but generally does not anticipate the Fund being leveraged in excess of 25% of its total assets.
Legal Structure
| Manager: | UFG Advisors Limited, a company incorporated under the laws of Bermuda, specializing in investments in Russia |
|---|---|
| Prime Broker & Custodian: | Credit Suisse Securities (Europe) Limited, London, UK |
| Administrator: | Custom House Fund Services Limited, Dublin, Ireland |
| Auditors: | PricewaterhouseCoopers, Cayman Islands |
| Cayman Counsel to the Fund: | Ogier LLP, London, UK |
| U.S. Counsel to the Fund: | Akin Gump LLP, London, UK |
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BLOOMBERG # 1
UFG Russia Select Fund ranked in Bloomberg Emerging Markets Top-10 »
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UFG`S INVESTOR TRIP TO RUSSIA
UFG Asset Management hosted its 3nd annual Investor Trip to Russia, April 24-26, 2012 »
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UFG`S INVESTOR CONFERENCE CALL
UFG AM held investor conference call on April 4 to share market insights and detail recent portfolio moves with regard to the unfolding global debt crisis. »
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UFG AM & DEUTSCHE BANK
Deutsche Bank to increase stake in Deutsche UFG Capital Management to 100 per cent »
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UFG AM RATINGS FOR YEAR 2011
