Old school New England 92 - Scanorama

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SPECIAL ADVERTISING SUPPLEMENT FROM INVESTMENT MANAGER SKAGEN FUNDS Common sense: Our common sense investment philosophy has provided consistent returns and outperformance since we started in 1993 SKAGEN: the facts �� regulated from Norway �� offices in Norway, Sweden, Denmark, UK and the Netherlands The art of common sense �� and three money market funds �� broad global mandates �� Sweden, Finland, Iceland, Luxembourg, the Netherlands, the United Kingdom and Switzerland. Important Information: All performance figures included in this article are measured in EUR net of fees and updated as of 30 September 2011. There are no subscription or redemption fees when investing directly with SKAGEN Funds. Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skill, the fund’s risk profile and subscription and management fees. The return may become negative as a result of negative price developments. Fund performance may vary considerably within one year. Gains or losses for individual unit holders will therefore depend on the exact timing of the subscription and redemption of units. This article is not intended as a recommendation with respect to the purchase or sale of any particular investment. SKAGEN’s funds cannot be distributed to investors subject to US jurisdiction including investors resident in or taxable to the USA. The management company SKAGEN AS is under the supervision of The Financial Supervisory Authority of Norway (www.finanstilsynet.no) SKAGEN Offices: Stavanger, Bergen, Oslo, Trondheim, Ålesund, Tønsberg, Copenhagen, Stockholm, Gothenburg, Amsterdam and London. HARALD ESPEDAL, SKAGEN Funds chief executive and investment director, sums up what he believes lies behind SKAGEN’s success Alignment: Our performance fee structure ensures a commonality of interest with our clients and our portfolio managers co-invest a lot of their personal wealth in the funds they manage Independence: We are owned by our founders and key employees and are independent of any financial institution. We therefore have the freedom to choose what is best for our clients in the long term www.skagenfunds.com Keys to successful fund management Location: We are located far from the world’s financial centres and are able to think and act in an independent and contrarian manner Simplicity: Our sole business is fund management. We only have a few simple products and focus on quality over quantity Global orientation: We operate in a global investment universe with broad mandates Transparency: We strive to provide open, honest and timely communication to our clients at all times
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Old school New England 92 - Scanorama

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