The Eclectica Fund
Summary
Prices as at 13th May 2005
Next dealing date: 1st June 2005
Performance since inception
Now that total return indices are more generally available, these are shown as the benchmark, instead of the capital indices used historically.
Summary report
In pdf format
Overview
This summary should be read in conjunction with the Prospectus
Investment Objective
The investment objective of the Fund is to achieve capital appreciation, whilst limiting risk of loss, by investing globally long and short mainly in quoted securities, government bonds and currencies, but also in commodities and related derivative instruments.
Comparatives
Primary: 3 month EURIBOR
Secondary: MSCI World Total Return index (EUR).
Structure
Open-ended investment company incorporated in the Cayman Islands. £, $ and € Shares, registered, uncertificated, listed in Dublin.
Accounts Date
Financial year end 31st December.
Dealing
1st and 15th of each month based on cleared funds being received by close of business on the previous day by 5.00pm (Dublin time). New applicants and shareholders wishing to redeem must provide the application form or redemption request with all necessary accompanying documentation, at least 7 days in advance of the dealing day.
Pricing
In order to protect the interests of existing shareholders the fund applies an anti-dilution levy of 0.5% to the NAV on any subscriptions or redemptions.
Launch date
30th September 2002
Dividends
In accordance with the Fund's investment objective, income or gains derived from its investments will not be distributed.
Charges
Management fee: 1%, Performance fee: 20% of net gains on an equalisation basis with an annual high-water mark, Front end charge: up to 5%, Exit fee: 1% in respect of shares held for less than one year.
Subscription
Minimum of €100,000 and its equivalent in Pounds Sterling or US Dollars in the case of Euro Shares, Sterling Shares or US$ Shares, respectively.
Price Reporting
As well as on this site, prices are published daily in the Financial Times (Managed Funds Service under Eclectica Asset Management LLP); SEDOL identifiers are 3186598, 3186617 and 3207745 for €, £ and US$ Shares, respectively.
Investment Manager
Eclectica Asset Management LLP, regulated by FSA.
Administrator
Daiwa Europe Fund Managers Ireland Limited
Custodian and Prime Broker
Morgan Stanley and Co. International Ltd., London
Auditors
Ernst & Young
Listing Sponsor
McCann FitzGerald
Applications
An application form can be downloaded from the documents page. Once completed it should be faxed and the hard copy posted to the Administrator.
Transferring Funds
Cleared funds are required by 5.00pm Dublin time on the Valuation Day in order to deal on the dealing day. To minimise delay we recommend that funds are telegraphically transferred in the currency of the Share being applied for, using the payment instructions shown on the application form. Payment by cheque is acceptable, although this may result in the investment being delayed significantly whilst the cheque clears.
Dealing
The Administrator will apply monies on the first dealing day after cleared funds have been received. Applications to subscribe or redeem shares will be dealt at the offer or bid prices, calculated with reference to the Net Asset Value of the Fund on the relevant Valuation Day. Any costs and subscription charge will be deducted from the amount invested before shares are allotted and any costs and exit charge will be deducted before the payment of redemption proceeds.
Confirmation
All shares will be registered and issued in inscribed form, i.e. no certificate will be issued but ownership will be evidenced by the entry on the Fund's register of shareholders. The administrator will normally despatch a contract note within 5 business days of the dealing day.