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Fact Sheet

The fund aims to generate income through private equity, direct lending, and alternative investment strategies. It focuses on current cash distributions and capital preservation. As of Q2 2020, the fund had returned 2.33% for the year to date and was invested 21.91% in cash and primarily in secured preferred credit and equity index funds. The manager expects markets to remain vulnerable given the strong recent rebound and ongoing economic risks from the pandemic.

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Manuel Romero
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13 views4 pages

Fact Sheet

The fund aims to generate income through private equity, direct lending, and alternative investment strategies. It focuses on current cash distributions and capital preservation. As of Q2 2020, the fund had returned 2.33% for the year to date and was invested 21.91% in cash and primarily in secured preferred credit and equity index funds. The manager expects markets to remain vulnerable given the strong recent rebound and ongoing economic risks from the pandemic.

Uploaded by

Manuel Romero
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Financial

Yield
Review
PORTFOLIO OBJECTIVES FUND INFORMATION

The investment objective of the Fund is to achieve income gains by making


income producing private equity, direct lending and other alternative Fund Stategy Private Equity Direct Lending
investment strategies. Target Annualized returns 5%
The Fund will focus on achieving income producing private equity, direct Leverage Used None
lending with emphasis on current cash distributions and capital Annualized Return 0,63%
preservation.
Avg. Monthly Return 2,33%

FUND RETURNS
(AS OF Q2-2020)

Year JUL AUG SEPT OCT NOV DEC TOTAL


RETURN
2020 2,33% - - - - - 2,33%

PRIVATE CREDIT/ TOP 5 HOLDINGS MATURITY SCHEDULE OF


(AS OF Q2-2020) UNDERLYING CREDITS
(AS OF Q2-2020)
Cash 21,91%

Prefered Credit Truist financial 17,82% 100%


Shs iShs Europe 11,86%

Shs iSh Rus 1000 Val 8,11% 80%

Shs iSh Inboxx IGCB 6,47%


60%

SECURED/ INSECURED 40%


(CURRENT DISTRIBUTION)

%of total portfolio


20%

Secured
0%
>36
Maturity

100 %
GENERAL INVESTMENT MANAGER CRITERIA
The Investment Manager will seek to achieve the investment objective by lending money against collateralized transactions,
including investment with other investment funds that match our investment strategy, loans and factoring companies with the
investment that are effectively collateralized and as such the fund will only engage in transactions with counterparties that are
determined to offer sufficient collateral that can be liquidated to cover the loan exposure. Numerous attractive opportunities exist to
either purchase debt or receivables and/or lend against various contractual or expected cash flows or receivables. The Investment
Manager intends to capitalize on these opportunities primarily outside the domain of the publicly traded equity and fixed income
markets, also believes such investments, if selected prudently, can be less correlated to the public equity and fixed-income
markets, offer excellent risk-adjusted returns and provide valuable diversification benefits to investors.

MANAGER COMMENT
(AS OF Q2-2020)

At the beginning of the year, markets were in vulnerable condition, as indicated by our asset allocation model, and only
one negative event was necessary to trigger a severe correction. The Covid-19 pandemic was the straw that broke the
camel's back. The first quarter of the new year will go down in the record book for having been the worst 1Q in history.
During 1Q 2020, the global equity index, or, ACWI, contracted -21.05%, and from the highest level on February 19 to the
lowest on March 23, this benchmark index collapsed -33.43%. The emergency measures to control the pandemic that the
different governments took, resulted in a total stoppage of the global economy. To try to counteract the extremely high
economic cost of these measures, the main central banks of the world chose to flood the financial system with liquidity.
This excess liquidity is something the world has never seen before, and as a consequence of this, the worst case
scenario was taken off the options table, and the stock markets turned around. Thus, during 2Q 2020, the ACWI rose +
18.81%, leaving the index only -6.20% during the first half of the year. This rebound after a -33% drop has been
exceptional, and actually unexpected, considering the economic consequences of the pandemic. This strong rise
continued during the month of July, adding another + 5.36% to the ACWI, leaving it at -1.17% of the level at which 2019
ended.

Looking ahead, this strong advance has left markets vulnerable again.
For reference, history tells us that the “Bear” markets that are accompanied by an economic recession, show average
falls of -37%. This Bear has already fallen by -35%, although from a duration point of view, it has been much faster. Prior
to the Covid-19 pandemic, our analysis indicated that the next Bear market would show a contraction in the S&P 500 of
between -35% and -45%. That is, we touched the lowest point of the range, but, we could see a correction of -10% in any.
In any case, investment decisions will continue to be governed by our model, which, at this time, indicates that the implicit
risk in the market has risen from a “neutral” reading in April to “high risk” today.

FUND INFORMATION

Fund Advisor: Auditor: Lock Up Period: SHARE CLASSES


IFG Capital LTD. Baker Tilly (BVI) Limited. One year. Class b
Investment management fee 0%
Fund Structure: Administrator: Redemption Fee:
Proffesional Fund BVI. Amicorp Fund Services N.V. 3% Year 2
2% Year 3 CONTACT INFORMATION
Fund Inception: Subscription: 0% Onwards. Manuel E. Romero
August 2019 Monthly meromero@ifgcapital.vg
Min. US $100.000
Income Distribution: Craigmuir Chambers Road Town,
Legal Counsel:
Reporting: Quarterly. VG1110, British Virgin Islands.
Harneys Westwood & Riegels
Monthly Statements,
Annual audit.
IFG Capital Ltd.
Craigmuir Chambers Road Town, VG1110, Islas Vírgenes Británicas

Correo Electrónico: investorservices@ifgcapital.vg


Atención: Servicios para inversores

www.ifgcapital.vg

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