latin american hedge fund directory 2004/2005 - Eurekahedge

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Long / Short Equities FAMA Challenger FIA Manager Profile Strategy • Since its foundation in 1993, FAMA’s only business has been in asset management, focused in Brazilian equities. • The two founders, Mauricio Levi and Fabio Alperowitch, are the owners of the company and the funds’ managers since inception. Levi is responsible for the economical and political analyses while Alperowitch is responsible for the equity research department. Statistics (as at Jul 2004) Performance Chart Summary Data Annualised Return (%) 17.82 Best Monthly Return (%) 28.92 Worst Monthly Return (%) -31.71 2003 Return (%) 75.90 2004 Return (%) 27.37 Rise/Fall in NAV since Inception (%) 219.55 Rise/Fall in NAV over Last 3 Months (%) 21.85 Risk/Return Sharpe Ratio 0.05 Annualised Standard Deviation (%) 34.38 Downside Deviation (%) 22.77 Sortino Ratio 0.08 Maximum Drawdown -62.09 Percentage of Positive Months (%) 60.00 Fund Details Investment Style Long / Short Equities Investment Geography Brazil Fund Size (US$m) 3 Fund Capacity (US$m) 100 Assets under Management (US$m) 83 Minimum Investment Size BRL 20,000 Inception Date Jun-1997 Domicile Brazil Base Currency BRL Equalisation / Share Class Equalisation Dividend Policy Reinvested Leverage No Hurdle Rate Yes (Ibovespa) High Water Mark Yes Listed on Exchange No Open/Closed Open Service Providers Administrator Mellon Brascan Auditor PricewaterhouseCoopers Legal Advisor Mellon Brascan Broker Banco Itau, UBS The information and summaries contained in this directory (the “Summaries”) appear as a matter of record only and are provided for information purposes only. The Summaries do not, and should not be construed to, constitute an offer to sell or a solicitation of an offer to buy any of the shares, or any other interest, in any fund or form the basis of any contract or commitment whatsoever. The Summaries are based on information and data received from the subjects of each and from other third party sources and no guarantee of completeness or accuracy can be made nor is any representation or warranty made in this regard. We understand that many of the funds may not be sold into, or that their sales may be restricted in particular jurisdictions (including the United States and Singapore). Accordingly you are advised to seek independent professional advice before taking any action in relation to any fund mentioned herein. We accept no liability whatsoever for any direct or indirect loss arising out of the use of this directory or reliance on anything found in this directory. ∆ EUREKAHEDGE PTE LTD www.eurekahedge.com 6 • FAMA Challenger FIA is a mid-cap Brazilian equities fund, with a value investing approach. • The fund has a total return objective and aims to outperform Ibovespa (stock exchange index), CDI (interbank interest rate) and IGPM (inflation index). • The partners and analysts are involved in regular meetings to discuss investment thesis and objectives for positions held and potential investments. The two partners make the final decision. • The research department maintains constant contact with the management of the invested companies. They also participate in major conference calls and shareholders meetings. • The fund holds a maximum of 18 companies in its portfolio, with a 20% maximum limit per company. There is no maximum percentage per sector and no derivatives have been used since March 2003. 330 270 210 150 90 30 Jun-97 Nov-98 Apr-00 Fee and Redemption Structure Subscription Frequency Daily Redemption Frequency Daily Redemption Notification Period 3 days Redemption Penalty None Management Fees (% pa) 2 Performance Fees (% pa) 20 Other Fees None Lock-up No Manager Details Advisory Company FAMA Investimentos Ltda Management Company FAMA Investimentos Ltda Fund Manager(s) Mauricio Levi, Fabio Alperowitch Contact Person – Name Mauricio Levi Contact Person – Email mlevi@famainvestimentos.com.br Contact Person – Tel 55 11 5508 1188 Address Rua Geraldo Flausino Gomes 78 cj. 91, Sao Paulo, SP 04575-060, Brazil Main Telephone Number 55 11 5508 1188 General Email mlevi@famainvestimentos.com.br Website www.famainvestimentos.com.br Sep-01 Feb-03 Jul-04
POBT Equities Fund SPC – Total Return Equities Class Manager Profile Strategy • Patrick O’Grady acts as advisor to the fund. • O’Grady is the head of Pactual Asset Management equities team; he has headed the team since November 1998. He previously worked in the emerging markets investment group and the research department for two years. In 1996, he moved to the international equity distribution area, taking over the management of this area in 1998. • O’Grady majored in economics at the Federal University of Rio de Janeiro and earned an MBA in finance from the Brazilian Capital Markets Institute (IBMEC) and a CFA certificate in 1998. He became a partner of Pactual in 1998. • POBT is the offshore arm of Pactual Asset Management. Statistics (as at Jul 2004) Performance Chart Summary Data Annualised Return (%) 9.23 Best Monthly Return (%) 4.02 Worst Monthly Return (%) -1.71 2003 Return (%) 15.58 2004 Return (%) -0.14 Rise/Fall in NAV since Inception (%) 18.44 Rise/Fall in NAV over Last 3 Months (%) Risk/Return 2.44 Sharpe Ratio 1.70 Annualised Standard Deviation (%) 5.01 Downside Deviation (%) 1.82 Sortino Ratio 4.57 Maximum Drawdown -2.96 Percentage of Positive Months (%) 60.87 Fund Details Investment Style Long / Short Equities Investment Geography Latin America Fund Size (US$m) 10 Fund Capacity (US$m) No limit Assets under Management (US$m) 8,400 Minimum Investment Size US$50,000 Inception Date Sep-2002 Domicile Cayman Islands Base Currency USD Equalisation / Share Class Share class Dividend Policy None Leverage Yes Hurdle Rate Yes (3-month LIBOR) High Water Mark Yes Listed on Exchange No Open/Closed Open Service Providers Administrator UBS Auditor KPMG Legal Advisor Ogier & Boxalls Broker POBT Bank & Trust The information and summaries contained in this directory (the “Summaries”) appear as a matter of record only and are provided for information purposes only. The Summaries do not, and should not be construed to, constitute an offer to sell or a solicitation of an offer to buy any of the shares, or any other interest, in any fund or form the basis of any contract or commitment whatsoever. The Summaries are based on information and data received from the subjects of each and from other third party sources and no guarantee of completeness or accuracy can be made nor is any representation or warranty made in this regard. We understand that many of the funds may not be sold into, or that their sales may be restricted in particular jurisdictions (including the United States and Singapore). Accordingly you are advised to seek independent professional advice before taking any action in relation to any fund mentioned herein. We accept no liability whatsoever for any direct or indirect loss arising out of the use of this directory or reliance on anything found in this directory. ∆ EUREKAHEDGE PTE LTD www.eurekahedge.com 7 • Pactual Asset Management has a long record of obtaining consistently high returns under strict risk control. To achieve outstanding results, it relies on the support of an in-house risk management group and utilises many risk management tools developed internally. • The POBT Total Return Equities seeks investment opportunities in equities that, based on a solid fundamental analysis, are trading above or below their fair valuation. To achieve its objectives, the fund uses the most suitable instruments in spot and derivatives markets and is completely free to vary its market directional exposure. The fund’s investments in stocks are primarily concentrated in 5 to 10 holdings. • The geographical breakdown for the fund is Brazil and to a lesser extent Latin America. The maximum VaR is at a 99% confidence level that is tolerated for the company’s investment portfolio on a daily basis is limited to 8% of the NAV. The fund may take non- US dollar risk, primarily in the Brazilian currency, at the manager’s discretion. • In addition to bottom-up stock picking investments, major portfolio themes may include event-driven situations, arbitrage opportunities and relative value plays. 120 115 110 105 100 Aug-02 Mar-03 Fee and Redemption Structure Oct-03 Subscription Frequency Daily Redemption Frequency Daily Redemption Notification Period 3 business days Redemption Penalty None Management Fees (% pa) 2 Performance Fees (% pa) 20 Other Fees None Lock-up No Manager Details May-04 Advisory Company POBT Asset Manangement Ltd Management Company POBT Asset Manangement Ltd Fund Manager(s) Patrick O’Grady Contact Person – Name Alvaro Catao, Eduardo Missick Contact Person – Email acatao@pactualcapital.com, emissick@pobt.com.bs Contact Person – Tel 1 212 702 4134, 1 242 322 5575 Address Fort Nassau Centre, Marlborough Street, Nassau, Bahamas Main Telephone Number 1 212 702 4134, 1 242 322 5575 General Email acatao@pactualcapital.com, emissick@pobt.com.bs Website www.pactual.com.br Long / Short Equities
Page 1: LATIN AMERICAN HEDGE FUND DIRECTORY
Page 4 and 5: Table of Contents About Eurekahedge
Page 6 and 7: Key Trends in Latin American Hedge
Page 10 and 11: Long / Short Equities The Explorado
Page 12 and 13: Multi-Strategy Capitania Hedge FIF
Page 14 and 15: Multi-Strategy SDA Hedge FIF Manage
Page 16: European Hedge Fund Administrator o

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