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A proprietary product combining an absolute return strategy with active asset allocation. The Fund features a highly concentrated portfolio and high liquidity. Its objective is to deliver a positive average annual rate of return over a long-term investment horizon, regardless of conditions in the financial markets. Owing to its flexible investment policy, the Fund’s returns should exhibit low correlation with equity market indices. The investment policy applied by the Fund does not guarantee that the Fund will achieve a positive rate of return.
The Fund is dedicated to high-net-worth Investors.
Investment certificates are issued exclusively through subscription offers made by Quercus TFI S.A. to fewer than 150 specifically identified individuals.
The Fund implements its investment policy through flexible allocations primarily to equities (0–100% of assets), debt and money market instruments (0–100% of assets), and deposits (0–100% of assets). The Fund may also hedge its portfolio through the sale of derivative instruments on equity indices or through short selling of equities — a technique not available to open-end investment funds — allowing the Fund to profit from price declines. The Fund’s assets are invested mainly in:
• equities of companies listed on the Warsaw Stock Exchange and on foreign exchanges (primarily European and North American markets)
• short-term debt instruments
• foreign currencies
• futures or options on equity indices
The Fund is characterised by a high level of investment risk.
The purpose of using derivative instruments is to reduce fluctuations in the value of investment certificates or to gain exposure to specific asset classes in order to more effectively pursue the Fund’s investment objective. The combined exposure to equities and derivative instruments may range from –100% to +200%.
The Fund does not have a benchmark.
The Valuation Day is the last business day of each calendar quarter on which a regular trading session is held on the Warsaw Stock Exchange, as well as other days specified in the Fund’s Articles of Association.
Investment certificates may be redeemed once per quarter (the Redemption Day). The Redemption Day is the last business day of the quarter on which a regular trading session is held on the Warsaw Stock Exchange. Redemption requests may be submitted during the second month of each calendar quarter.
The information presented regarding Alphaset FIZ (the “Fund”) does not and may not be considered an offer to acquire investment certificates, an invitation to subscribe for investment certificates, nor an offer within the meaning of Article 66 of the Polish Civil Code. The issuance of the Fund’s investment certificates will be carried out exclusively through subscription proposals made by Quercus TFI S.A. to fewer than 150 specifically identified individuals. The sole sources of information on the offering of investment certificates, the Fund, its investment policy, and the risk factors associated with investing in investment certificates are the terms and conditions of the issuance and the Fund’s Articles of Association. These documents will be made available to the persons to whom the proposal to subscribe for investment certificates is addressed.
The Fund’s net asset value may exhibit significant volatility due to the portfolio composition, particularly the Fund’s investments in equities and derivative instruments. The performance figures presented do not include capital gains tax or fees related to the acquisition of investment certificates; an individual investor’s rate of return also depends on any applicable transaction fees and taxes. Past performance is based on historical data and does not guarantee future results. The results for 2017 were achieved, among other factors, immediately after the Fund’s registration, during the portfolio construction phase.
This material is for informational purposes only and does not constitute an offer or a recommendation to buy or sell any financial instrument. The information provided should not be regarded as investment advice or any other form of advice, including legal assistance. Quercus TFI S.A. is authorised to conduct its activities by the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego), which supervises Quercus TFI S.A.