Open Funds & Probus

RESHAPING YOUR EMERGING MARKETS’ PERSPECTIVES
IRAN, MEKONG, RUSSIA 

* By accepting the invitation or navigating this page, the participant declares, in accordance with Article 10 para 3, that he is a qualified investor or, alternatively, that the funds presented will be shown exclusively to qualified investors. This document is not, and should not be construed as, an offer or the solicitation of an offer to buy or sell any investment products or services. Probus Funds, OpenFunds and “The Lantern” Research expressly disclaim any and all liability from any damage that may result from any use of the information presented herein.

List of funds presented:

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.

Speakers

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)