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RUSSIA – Kaltchuga Russia Equities
Kaltchuga Fund – Russia Equities is a long only SICAV fund regulated by the Luxembourg CSSF. It invests in publicly listed stocks and equity linked securities with daily liquidity. Its geographical focus is FSU countries, mainly Russia, Ukraine and Kazakhstan. It is benchmarked against the MSCI Russia Index and plays the leverage of Russian stocks, in priority blue chips but also second-tier stocks to the long term growth of the Russian economy and to the underlying secular shift in global economic activity. Since inception in 2000 and as of end of February 2016 it has delivered an annualized return of 12.9% (vs 6.6% for its benchmark the MSCI Russia index).
IRAN – Persian Equity
Probus Opportunities Persian Equity Fund seeks capital appreciation through investment in a concentrated portfolio of securities listed on Iranian stock markets that will benefit from the removal of the international sanctions. The primary objective of the Probus Opportunities Persian Equity Fund is to deliver capital appreciation through investment in a concentrated portfolio of securities listed on the Tehran Stock Exchange and on the Iran Fara Bourse. Companies are selected following a strict four steps methodology: benefit the most from the removal of international sanctions and capital inflows, are fully compliant with United States Treasury’s Office of Foreign Assets Control, UN and EU sanctions, possess strong fundamentals and valuation metrics and run by management teams and control groups that are maximizing shareholders’ interests. Although, it is not doing so as of today, the Fund may also invest in Iranian fixed income securities and in equity securities listed on other exchanges.
MEKONG – Mekong Fund
The Mekong Fund is a high-conviction, long-only value investor in the dynamic Mekong region (Thailand, Cambodia, Laos, Myanmar and Vietnam). The Thailand-based investment management team sees significant near-term opportunity in the region given: (1) continued strong economic growth driven by a young population (average age of 30) of some 240MM people in the Mekong region and over 600MM in broader ASEAN, increasing regional trade, labour, and capital markets integration, and rising disposable incomes, (2) the opening and development of new stock exchanges in the region (Myanmar, Laos, Cambodia), and (3) ongoing market volatility and recent corrections providing opportunities to purchase assets at significant discounts to fair value. The Fund, a Luxembourg-regulated AIF, was established almost 5 years ago and its performance is in the top decile of peer funds according to Bloomberg.
Kaltchuga Fund – Russia Equities
Jean-Marie Billiotte (CIO at Kaltchuga Capital Management S.A., Luxembourg)
Alexandre Starinsky (Head of Research of Kaltchuga Fund – Russia Equities)
Probus Opportunities – Persian Equity Fund
François Savary (President of the Advisory Board – CIO at Prime Partners S.A., Geneva)
Mahmoud Bahmani (Head of Iranian Research at Probus Middle East Limited)
Jean-Louis Tauvy (Member of the Advisory Board)
Mekong Fund (Thailand, Cambodia, Laos, Myanmar, Vietnam)
Andrew Ranken (Manager of Probus Opportunities – Mekong Fund)
Marc Lavoie (Manager of Probus Opportunities – Mekong Fund)