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The Golden Horn Fund is an open end fund with an exclusive
focus on Turkey. Turkey has staged a remarkable economic recovery
since 2001 and is an attractive emerging market with continuously
improving macroeconomic fundamentals. Turkey's strategically
important geographical location, abundant labor force and
a vibrant private sector offers tremendous opportunities for
investments. A large pipeline of privatizations and mergers/acquisitions
will also help unlock value in the medium to long term for
equity investors. The IMF supported economic program has the
prospects to create an environment which provides attractive
returns for international fixed income investors.
Investment Objectives
The fund seeks to provide medium to long term capital growth
through investments in Turkish equity and Turkish fixed income
(sovereign) securities. It intends to capitalize on the upcoming
opportunities in the Turkish markets while moderating the
risk inherent in any emerging market economy.
Investment Strategy
The strategy is to have an optimal allocation to fixed income
and equities in order to achieve steady risk adjusted returns
for investors under varying market conditions. For equity
investing the fund follows a bottom up approach and focuses
on companies with strong fundamentals and good growth prospects.
Fund Manager
TAIB Bank B.S.C. (c). The manager utilizes the services of
2 best in class portfolio advisors based in Turkey.
Principal Features
Type of Fund
Open-ended (sub-fund of TAIB Managed Funds, Ltd., British
Virgin Islands)
Minimum Subscription
US$100,000
Entry
Monthly at NAV plus 2%
Redemption
Monthly at NAV
Management Fee
1.5% p.a.
Performance Fee
Payable on growth basis as on 31 March every year as follows:
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Growth in NAV
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Performance Fee
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Over 10%
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20% of increase
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Taxation
British Virgin Islands — "No tax" on capital
gains to non-residents
Investment Restrictions
The Fund will not:
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invest more than 25% of its net assets in
a single industry |
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invest more than 20% of its net assets in
any one security, except Turkish treasury bills and bonds
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invest in unlisted securities |
Performance Chart
Please Contact:
Thomas Kelly : 973 17549409
Maria Sofia Kourti
: 973 17549414
E mail: funds@taib.com
" The above summary constitutes neither an offer to sell
nor a solicitation to invest in the Golden Horn Fund. Offers
to sell or solicitations to invest in the Golden Horn Fund are
made only by means of the Golden Horn Fund Prospectus and an
investor considering an investment in theGolden Horn Fund should
rely solely upon the Prospectus. Please note that investment
restrictions apply. " |
