ACTIVE EQUITY HEDGE FUND

Fund objective is to provide investors with positive absolute return on the long-term horizon, which enhances main market equity benchmark RTS Index return.

FUND STRATEGY

Using our expertise and proprietary in-depth research to identify undervalued equities (or overvalued as short investment).

Looking for equities with TSR above 25%.

DCF and DDM modeling: macro forecast - currency rates, interest rates, commodity prices, inflation rates and corporate business expectations - growth rates, Capex, cost control, technology changes, competitive environment, administrative and political factors, etc. Important filter for inclusion is high level of corporate governance: the company should generate sufficient level of ROIC or FCF return to shareholders.

‘Special situations’ to achieve gains from specific events such as: takeovers, liquidations, buybacks, tender offers, mergers, corporate reorganizations, spin offs and etc.

To manage liquidity, risks or returns the investment manager may use derivatives, short selling of securities, fixed income securities and some level of leverage.

Russia and EEU countries with some possible inclusion of EM countries.

FUND STRUCTURE AND SERVICE PROVIDERS

Investment manager

Da Vinci Capital Management Ltd.

External AIFM

Fuchs Asset Management S.A.

Auditor

Deloitte Audit

Depository and Paying Agent

Banque de Patrimoines Prives

Administrative agent

Banque de Patrimoines Prives

Legal Advisor

Dechert

STRATEGY
TRACK-RECORD

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