Funds

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Objective

The fund aims to generate real returns above the Brazilian long-term opportunity cost, investing mainly in Brazilian stocks that are traded below their intrinsic value. Focus in growth companies with high returns and cash flow generation perspectives, that are part of the infrastructure, consumer, financial services and capital goods industries. The fund may opportunistically short or use a long/short strategy to benefit from a mispriced asset.

 

Investment Philosophy

The fund will invest mostly in Brazilian equities and derivatives, being very active towards the invested companies. It will carry a concentrated long portfolio of 5-12 companies, single shorts and relative value pairs.

 

Investment decisions are taken after a thorough “bottom up” fundamental analysis that must be validated by our investment committee. The investment process targets Brazilian companies trading below intrinsic value (“margin of safety”).

 

Targeted Investors

Investors with a long-term investment horizon willing to be partners of brazilian companies that offer good risk-return prospect for the next 3-5 years.

 

Fund Details

Inception DateAugust 1, 2013
Minimum InvestmentR$ 100,000.00
Management Fee2% p.a.
Performance Fee20% over what exceeds the hurdle rate
Subscription FrequencyMonthly (at the beginning of each month)
Redemption FrequencyMonthly with 60 days' notice
Prime BrokerMorgan Stanley
Fund AdministratorSEI Global Services Inc.
AuditorErnst & Young
Valuation CurrencyUSD
Disclaimers:
This is neither an offer to sell nor a solicitation of any offer to buy any securities in any fund managed by us.
All fund documentation must be read in their entirety. No offer to purchase securities will be made or accepted prior to receipt by the offeree of these documents and the completition of all appropriate documentation.