November 2009 - Nordea Bank Lietuva

Heracles Long/Short MI Fund
30 November 2009
Performance in %
Cumulative Fund Benchmark*
Year to date
-1.68
0.87
1 month
0.71
0.04
3 months
2.03
0.11
1 year
-2.03
1.15
3 years
-
-
5 years
-
-
Since launch
6.07
4.39
Discrete Month
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
Fund
0.71
-0.71
2.03
0.43
0.18
-0.02
Performances are in EUR, net dividends reinvested
*Euribor 1 month
Benchmark*
0.04
0.04
0.04
0.04
0.05
0.08
Performance (in base currency, indexed at 100)
120
110
100
90
80
70
60
12-Mar-08 17-Sep-08 25-Mar-09 30-Sep-09
Fund Data
Share class
Fund category
Last NAV
EURIBOR 1 MONTH² MSCI W orld - Net Return Index² Heracles Long/Short MI Fund
AUM (million EUR)
Minimum investment (EUR)
Front end fee in %
Annual management fee in %
Launch date
AP
Distributing
52.17
307
50
3.5
2.0
12/03/2008
²Source: Datastream
Base currency
EUR
ISIN
LU0343921457
Sedol
B2Q4WY7
WKN
A0NDW9
Bloomberg ticker
NOHLAPE LX
Number of holdings
n/a
Manager
Metzler Asset Management GmbH
Performance Fee in % 20
Top Holdings in %
Top Equity Positions
SHORT
LONG SMI 4.51
OMX 4.02
Top Bond Positions
SHORT AUS 10y -4.11
AUS 3y -3.95
LONG JGB 10y 12.28
Euro Bund 8.27
Top Currency Positions
SHORT USD -13.69
GBP -3.52
LONG ZAR 8.00
AUD 3.85
Investment Strategy
The fund takes advantage of climbing (long) and falling (short) prices across some 50 equity, fixed income and currency markets worldwide. The aim is to produce a return of
2-4% above prevailing interest rates (EURIBOR). This is done via an innovative, prognosis-free quantitative system based on mathematical algorithms. These indicate, on a daily
basis, how many long or short positions should be taken in the various markets, relying on the recent price trends. As a result positive returns can be achieved under any market
conditions, independently from forecasts or market opinions, and with risk tempered by the diversification across several different markets.