13 Дек. 2014 г.|
Ufg credit opportunities fund
Fund aims to achieve fixed-income returns by investing primarily in hard-currency external debt of Russian quasi-sovereign entities and blue-chip corporate bonds; 75% of the Fund must be investment grade (BBB-).
The Fund aims to achieve fixed income returns, primarily through investments in debt instruments issued by the Russian Federation and CIS corporations which are denominated in US dollars or euros, which directly or implicitly enjoy the support of the Russian and CIS Government (roughly 75% of the portfolio). The Fund can have up to 25% maximum exposure to debt securities of non-government backed blue-chip issuers, non-Russian government associated non-ruble Eurobonds if the Manager deems the issuers to have strong credit fundamentals and sound business models. The Manager believes that opportunities for portfolio diversification may arise over time from debt to equity swaps, restructured credit and debt-warrants, convertibles and other debt instruments.
UFG Russia Alternative Fund was launched on 1 November, 2006 and is a Cayman Islands-exempted company. The Fund invests in a variety of industrial sectors including, but not limited to, retail services and trade, banking and insurance, consumer goods, basic materials, natural resources, and telecommunications. Not more than 15% of the Fund’s NAV will be invested in any single portfolio company.
UFG Special Situations Fund was launched on 29 August, 2013 and is a Cayman Islands open-ended limited partnership. The Fund aims to maximize risk-adjusted returns by using an adaptable investment strategy focused on diversified instruments in Russia and its surrounding region.
The Fund seeks such mispricings on local, USD, EUR and even JPY-denominated external Eurobonds market. Prospective investors are advised to consult their financial advisor and to take separate advice as to the legal requirements within their own countries for investment in any of the funds as well as any securities, taxation or exchange control legislation affecting them personally. The Fund may participate in selected public equities investments in other CIS states on an opportunistic basis. The Fund may take substantial as well as minority stakes in privately held companies, provided that there are adequate shareholder rights protection mechanisms in place at investee companies.
The Fund may also make significant allocations from time to time to high dividend yielding publicly traded Russian equities. The Fund may invest in long and short FX forwards, fixed to floating interest rate swaps, cross-currency swap positions, taking directional views on FX rates, interest rate movements and utilizing leverage to maximize fixed income returns in the short to mid-term.
Securities and Exchange Commission, and as a result, such investment products are only available to certain accredited investors who have been pre-qualified by UFG Asset Management.
In addition to this, the Fund may invest in equity securities that have not yet obtained an official listing but where there is an expectation that such public market will develop in the foreseeable future. The Fund may also purchase debt securities of sovereign and corporate issuers domiciled in, or deriving a substantial portion of their income from, Russia and other members of the CIS, where such issuers have strong credit fundamentals, sound business models and attractive yields, and can generate compelling fixed income returns to the Fund and balance the risk profile of the portfolio. Credit default swaps may be utilized from time to time to add credit exposure to the portfolio and to protect other investments in the portfolio.