QUERCUS Absolute Return FIZ

Absolute return product. The fund is addressed to the group of affluent Investors. It is aimed at double digit positive rates of return per annum, based on a very flexible investment policy and a wide range of investments made by the fund.

Up till now four certificate issues has taken place: in April, July, October 2010 and January 2011. More certificates to be issued in April 2011. Investment certificates of the fund will be issued solely in the form of an invitation to subscribe to the investment certificates that Quercus TFI S.A. will address to fewer than 100 named individuals.

The risk level of investing in the fund is high.

The fund pursues its investment policy by investing assets flexibly, both in equities (from 0 to 100% of assets), as well as debt instruments and others – a wide range of instruments is used which are out of reach of open investment funds.

We will seek opportunities for the fund’s assets mainly among:
•    equities listed on the WSE,
•    equities listed on stock exchanges in our region and other emerging markets,
•    shares or stocks of Polish private equity companies,
•    debt instruments, including corporate and municipal bonds.

Positions may be hedged or leveraged using derivative instruments. The combined exposure to equities and derivative instruments may amount to between -100% and +200%.

The fund does not have a benchmark.

Standard fund valuation takes place at the end of each quarter. It is possible for certificates to be redeemed by the fund on the last day of February every year.