SILVERDALE BOND FUND 1C (DIVIDEND)
Silverdale Bond Fund is a diversified portfolio of primarily investment grade short duration US dollar bonds, actively managed for enhanced returns, using ring-fenced leverage. Fund Advantages: - Quality Assets: Investment Grade (min 75%) - Short Duration (2-3 Years) - No forex risk (US Dollars only) - Enhanced returns - Quarterly dividend distribution-5.22%0.38%$
ASIA FRONTIER FUND
The AFC Asia Frontier Fund invests in public equities of Asian frontier countries that are seeing increasing consumption due to favorable demographic trends, rising incomes and high GDP growth. The fund invests in listed equities of companies that have their principal business activities in Bangladesh, Bhutan, Cambodia, Iraq, Kazakhstan, Kyrgyzstan, Laos, Maldives, Mongolia, Myanmar (Burma), Nepal, Pakistan, Papua New Guinea, Sri Lanka, Uzbekistan, and Vietnam.-10.42%-12.94%$
NUVEST JN ASIA INFRASTRUCTURE FUND
The investment objective of this fund is to earn a superior risk adjusted total return through a mix of long term capital appreciation and cash yield by investing in infrastructure companies across the Asia-Pacific universe using an index-unconstrained concentrated portfolio approach. This strategy is ideal for investors looking to gain exposure to infrastructure companies and have a long term time horizon. This fund is managed by Nuvest Capital.-6.11%$
KOTAK INDIA MIDCAP FUND
The investment objective of this Kristal is to achieve long term capital appreciation by primarily investing at least two thirds of its total assets in equity and equity-linked securities of mid-capitalization companies registered in India or deriving a significant portion of their business from India. The strategy is managed by Kotak Mahindra Asset Management which is a MAS regulated Asset Management Company. This strategy is ideal for investors looking to gain exposure to mid-cap Indian equities.-9.55%$
USD LEVERAGED BOND KRISTAL
The Strategy Manager will invest in USD denominated fixed income instruments issued by corporate and sovereign issuers. Limited leverage shall be used to enhance the return on the portfolio of holdings. This strategy is deemed suitable for long term investors looking for a stable return.6.72%$
KOTAK INDIA GROWTH FUND
The investment objective of this Kristal is to achieve capital appreciation by investing in equities and equity-linked companies listed in India. The strategy is managed by Kotak Mahindra Asset Management which is a MAS regulated Asset Management Company. This strategy is ideal for investors looking to gain exposure to growth-oriented large cap Indian equities.0%$
1. Star selection The Dream Team is a portfolio that invests in the best 20-30 companies in the world. The strategy starts from filtering the world universe by the best brands according to brand research specialists. Then companies' financials are analysed and companies ranked according to well-established factors including value, growth, momentum, quality, sentiment, balance sheet strength, low risk and ESG metrics. Brand can be seen as a key component of the concept of moat used by Warren Buffett and Charlie Munger to select "Great businesses at fair prices". If anything, the value of brands tend to grow with the globalisation and digitalisation of consumption. 2. Teamwork The final selection identifies the leaders by sector and balances the portfolio by country, region and currency according to global equity indices weights so that the portfolio is well diversified. The output is a concentrated portfolio diversified between the developed markets main regions, currencies and sectors that is able to provide exposure to the main equity markets in a sustainable way. A long term perspective and low turnover is to be expected. This strategy is ideal for investors with a long time horizon looking to gain exposure to large cap equities.$
SILVERDALE BOND FUND 1H (GROWTH)
Silverdale Bond Fund is a diversified portfolio of primarily investment grade short duration US dollar bonds, actively managed for enhanced returns, using ring-fenced leverage. Investor Benefits
- Excellent returns of 8% – 10% per annum
- Quality Assets: Investment Grade (min. 75%)
- Well diversified portfolio of 100+ bonds; Max exposure per security: 5%
- No forex risk: zero non-USD exposure
- Short duration of circa 2 years
- Quarterly dividend of $ 2.10 per share (approx. 6% p.a.)
- Ring fenced leverage with no recourse to the investor (no personal guarantee / obligation of investor)
- Liquid: Weekly subscription/redemption
- Excellent risk management
- As interest rates go up, performance is likely to improve!
FUTURE VISION KRISTAL
Overview: The Future Vision Equity pooled strategy invests in single name equities that are aligned with themes in disruptive industries which are likely to play a more important role in the next decade ahead. How did we identify this Kristal: From a bottom-up approach we have identified certain sectors which have the potential for commercial disruption in the future. This is related to technological development but also demographic and social trends which are likely to dominate the lives of many in the future. The core themes that have been identified are: Biotechnology and Genome research: Medical advances with the help of AI and reduced cost for genetic editing have the potential to disrupt the healthcare industry in years to come. We are looking specifically for companies in the sector of life sciences, genetic solutions for cancer treatment, Human-Machine-Interface technologies, etc. Water & Food: We may run out of clean water, and while we might not run out of food in the foreseeable future, there is certainly, a need to become more efficient and sustainable in the way how we feed a growing world population. The investments will be predominantly in companies in the AgriFood Tech space, Water companies (Technology or utility) or environmental management companies. Cybersecurity: The cost of cybersecurity at an average level has increased by over 72% in the past 5 years, and 13% alone from 2017 to 2018. An Accenture Study about the cost of cybercrime states that the Value at Risk from Cybercrime in the global economy is rising, and so is the cost of prevention. Machine Learning & AI: Dubbed by many as the future of everything, living in a digital society with vast amounts of data means more growth in the space of Machine Learning & AI. Renewable Energy: We do not think that global warming is a hoax, therefore investment in the renewable energy space will continue to grow and transform the way how we produce and consume energy in decades to come. Investments can for example take place in companies which are either REGenerators or provide technology that reduces carbon emissions. Selection of Companies: Through thorough fundamental research of the companies from an initial shortlist, we identify the ones with a technological or commercial advantage over others$
MARCELLUS CONSISTENT COMPOUNDERS FUND
Investment Objective The investment objective of the Fund is to achieve long term capital appreciation through investing in equity and equity-linked instruments of Indian companies listed on the Indian stock exchanges. In order to achieve the objective, the Fund would invest in companies which have the ability to deliver healthy and consistent earnings growth trajectory and capital efficiency over a longer term in future, and which are available at reasonable valuations. Investment Philosophy The Fund shall predominantly focus on a bottom-up approach for selection of securities. The manager’s selection process incorporates qualitative as well as quantitative analysis including management integrity, earnings growth, capital efficiency, relative margin of safety to valuations etc. The Fund will be a concentrated portfolio of 10-20 stocks with market cap in the range of USD 500Mn to USD 200Bn. The Fund reserves the right to invest in more stocks. The Fund shall follow buy and hold strategy. The Power of A Filter Based Approach
- Unique DNA of these companies: By “filtering in” companies with a history of very consistent fundamentals over very long time periods, the portfolio is skewed towards companies with a DNA built around relentlessly deepening their competitive moats despite disruptive changes taking place both inside as well as outside the organization. More often than not, such DNA sustains over the subsequent 5-10 years investment horizon of the filter based approach.
- Power of compounding: Holding a portfolio of stocks untouched for 10 years allows the power of compounding to play out, such that the portfolio becomes dominated by the winning stocks while losing stocks keep declining to eventually become inconsequential.
- Avoiding the pitfalls of psychology and reducing transaction costs: Being patient with a portfolio helps cut out ‘noise’ of trying to time entry / exit decisions. With no churn, this filter based approach also reduces transaction costs. Consider two data points: (a) In a portfolio with 70% churn (average churn of large cap mutual funds), 20bps broking cost and 30bps impact cost, churn reduces the terminal value of the portfolio (after 10 years) by 10% (i.e. a drag of 120bps on the 10-year CAGR); (b) deferring the 10% long term capital gains tax payable on the portfolio by 10 years enhances the terminal value of the portfolio by 8% (i.e. 100bps increase in the 10-year CAGR) vs a portfolio where capital gains are paid each year.
The investment objective of this strategy is to invest in a focused portfolio of 10-15 companies that have a strong moat, good management and can deliver healthy earnings growth over a 3-5 year time horizon. This strategy is suitable for investors looking to invest for the long term in companies with sustainable competitive advantages. This Kristal is actively managed by Kristal Advisors (SG) Pte. Ltd.$