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Fund Factsheet— May 2015
THE APOLLO ENHANCED ABSOLUTE RETURN FUND EURO B3
Redefining Absolute Returns
Fund Objective
The Apollo Enhanced Absolute Return Fund is a global multi asset fund seeking to gain enhanced exposure to a managed basket of absolute return strategies via structured investments. This basket will be managed by the investment manager according to various investment targets that will be selected. The fund itself will not leveraged and will not borrow. The absolute return strategies provide underlying
exposure to equities, bonds, commodities, alternatives and currencies. The Structured notes will provide a defined return of up to four
times the performance return of the managed basket of absolute return funds. The structured notes will always be collateralised, enabling
the investment Director to manage the credit risk of the respective note issuer. The Fund is designed to achieve long terms capital appreciation, whilst reducing the severity of negative returns over an investment cycle of 3-5 years. Performance can be compared to a
combination of 50% MSCI World Index and 50% Citi World Global Bond Index.
Performance
Discrete Monthly Returns
Jan
Feb
March
April
May
June
2015
3.04
0.36
0.55
-2.37
1.90
2014
0.34
2.75
-2.00
-1.59
-1.11 -1.99
2013
6.03
1.42
2.43
1.38
2.27
2012
3.81
2.50
-0.29
0.06
2011
-0.96
1.72
2.00
2010
1.45
1.22
2009
2.16
2008
N/A
July
August
September October November December
Year
3.22
-1.08
0.82
1.43
-2.35
2.06
-0.47
-3.30
-1.03
3.27
-1.10
-0.01
3.26
1.01
0.85
21.42
-3.41
0.91
2.12
1.65
2.23
2.06
1.10
1.67
15.19
1.60
-0.06
-1.30
0.30
-3.84
-0.17
2.08
-1.60
1.25
0.86
3.61
1.38
-4.61
-1.14
2.00
1.29
3.50
1.04
-0.90
2.88
12.06
-2.69
1.67
6.75
7.53
2.85
6.96
6.20
5.80
-0.19
3.02
0.73
48.5
N/A
N/A
N/A
N/A
N/A
N/A
0.14
-9.58
-6.08
0.28
2.57
-12.52
Cumulative Returns
Apollo SO Fund
1m
3m
6m
1yr
3yr
5yr
1.90
0.03
2.96
1.73
36.44
53.67
The performance figures provided in the comparison graphs do not reflect the actual performance of the Apollo Enhanced Absolute Return Fund but is
based on the results of a back testing exercise that replicates how the fund would have performed during various periods since 1 August 2008. Discrete
monthly returns are that of the actual Apollo Enhanced Absolute Return Fund from February 2014 and shown in bold.
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Fund Factsheet– May 2015
THE APOLLO ENHANCED ABSOLUTE RETURN FUND EURO B3
Portfolio Activity
Global equity markets steadily moved upwards through May with the US again hitting record highs. Japan led the way as investor confidence continued to build around economic stimulus which in turn weakened the Yen, leading to a boost for exporters. In the UK, a surprise
victory for the Conservative Party saw equities rally with investors getting comfort from a majority government, however weaker economic
news served as a reality check later in the month.
Across the US, a raft of data releases painted a mixed picture with Q1 GDP numbers being revised sharply downwards. However, new
home sales and consumer confidence both picked up leading commentators to suggest that GDP was likely to bounce back strongly in
Q2. In Europe, the month was again dominated by Greece with discussions continuing around terms of the bailout, however, with no sign
of a solution, Europe equities were a little volatile. In China, the market gave back a little of its spectacular gains, particularly at the end of
the month where a tightening of margin financing rules saw sharp falls in equities.
During the month, the Apollo Structured Opportunities Fund increased by 1.90%. With positive equity markets, the Equity Long / Short
allocation was the strongest performer as managers capitalised on the upward trend. The Equity Market Neutral position was also able to
profit from this movement in equity markets. The Macro allocation was also positive over the month while the Absolute Return Bond position was marginally negative amid a difficult environment for fixed interest.
Our position remains unchanged from last month in that we remain prudent in the face of high valuations across equity markets and volatile bond yields. Data throughout June will help set interest rate expectations on the US and this has the potential to derail markets as
does the Greek crisis which could well come to a head during the month given the scale of debt repayments required through the month.
Asset Allocation
Fund Facts
Unit Price As at 29.05.15
Fund Manager
Type of share
Annual Management Charge
Minimum Investment
Performance Fee
Custodian
Administrator
Auditors
Domicility
Structure
Dealing Frequency
ISIN
SEDOL
Bloomberg
Issue Date
996.93
Apollo Multi Asset Management
LLP
Accumulation only
1.75%
E10,000 or currency equivalent
10% High Water Mark, Highest
ever unit price
Sparkasse Bank Malta plc
Vista Fund Services Limited
KPMG
Gibraltar
The Apollo Global Fund PCC
Weekly on a Monday
GI000A1W8YF2
A1W8YF
BBG005MYHSJ9
05.06.15
19%
Market Neutral
26%
Absolute Return Bond
41%
Absolute Return Equity
14%
Macro
0%
10%
20%
30%
40%
50%
Fund Manager
Apollo Multi Asset Management
Apollo Multi Asset Management LLP was founded in July 2008 and is UK domiciled and authorised with the primary aim of preserving and
growing the wealth of investors over the medium to long term in the most risk efficient manner possible. The Partners at Apollo Multi Asset
Management LLP have considerable combined experience in managing client portfolios. The members of the Apollo Investment Committee responsible for Managing the fund are: Steve Brann, Craig Wetton, Ian Willings and Ryan Hughes.
A discontinuance fee of up to 5% of the initial investment may apply on a decreasing sliding scale over a 5 year period.
The Apollo Enhanced Absolute Return Fund (USD/EUR/GBP/SEK) are cells of the Apollo Global Fund PCC Limited (the ‘Fund’), a fund authorised by the Gibraltar Financial Services Commission (the ‘FSC’)
as an experienced investor fund in accordance with the Gibraltar Financial Services (Experienced Investor Funds) Regulations 2012 (the ‘EIF Regulations’) and the Gibraltar Financial Services (Collective
Investment Schemes) Act 2011. The Fund is registered with the FSC as a ‘Small AIFM’ in accordance with regulation 8 and 11 of the Financial Services (Alternative Investment Fund Managers) Regulations
2013. The shares of the Fund (the ‘Shares’) are only available for subscription by ‘Experienced Investors’ as defined in regulation 3(1) of the EIF Regulations. Unless otherwise indicated specifically, an investment in the Fund should be regarded as a long-term investment. The value of the Fund may fall as well as rise and is not guaranteed and past performance is not an indicator of future performance. The FSC
does not vouch for the financial soundness of the Fund, the correctness of any statements made or opinions expressed with regards to it. Apollo Multi Asset Management LLP is authorised and regulated by the
Financial Conduct Authority in the UK.The fund is designed to achieve long term capital appreciation, whilst reducing the severity of negative returns over an investment cycle of 3-5 years but this investment
objective is not guaranteed over this period or any other period and capital invested is still at risk . The Investment Director waived its management fee entitlement, on all cells, for share classes 1 and 3 from
fund launch until further notice, and reduced its entitlement to management fee, on all cells, for share classes 2, 4 and 5 to .50% from fund launch until 1st April 2015. The Investment director has also waived
it’s entitlement to a performance fee on all cells, notice, and waived it’s entitlement to this fee for the 2, 4 and 5 share classes from launch until 1st April 2015. equal to 10% of any increase above the applicable Highwater Mark, of the 1 and 3 share classes from launch until further This document has been reviewed and approved for distribution by Apollo Multi Asset Management LLP’
[email protected]
www.apolloso.com