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Harvest one percent fund presentation version 2 open subscriptions
1. HARVEST One Percent Fund Ltd
“ Serving the International Investor”
Investment Manager:
Harvest Financial Services Ltd
Regulated by the Cyprus Securities and Exchange Commission,
License Number 021/03 – Member of the Investor Protection Fund (TAE)
Harvest One Percent Fund Ltd
Registered and Regulated by the Central Bank of Cyprus
As per the international Collective Investment Scheme Law No 47 (I) of 1999 (ICIS)
CONTACT: Telephone + 357 22 552800 info@harvestgroup.com.cy
This document is for informational purposes only. This document does not constitute an offer, an invitation to offer, or a recommendation to enter into any transaction, nor does it
constitute investment advice. This material does not constitute a solicitation to buy or sell securities in any jurisdiction in which such a solicitation is not authorized or to any person
to whom it is unlawful to make such a solicitation.
2. Table of Contents
I. Fund Overview
I. Fund Overview
II. Manager Overview
II. Manager Overview
III. Principal Features
III. Principal Features
IV. Advantages
IV. Advantages
V. Summary //Timing
V. Summary Timing
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3. Fund Overview
Characteristics
Registered as an ICIS - International Collective Investment
Scheme
Regulated by the Central Bank of Cyprus, Law No 47 (I) of
1999 (ICIS)
International Variable Capital Company open to a maximum of
100 investors
Share capital equal to the Net Asset Value of the shares at
any time
Exemption from tax on profit from sale of securities &
dividends
No withholding tax on income repatriation
Exempt from taxation
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4. Fund Overview
Unique Features
Invests In Cyprus & Greek Markets in FTSEB* Components
Active Asset Allocation Policy
Multi Asset Class Investment Strategy (e.g. equities, corporate bonds,
derivatives)
Superior Risk Adjusted Returns
Low Entry Amount
Short to Mid Term Horizon
Above Average Returns (Current interest rates under pressure)
Highly Regulated – Central Bank of Cyprus & Cyprus Securities and
Exchange Commission
Dual due diligence & compliance performed by internal auditors KPMG &
Hellenic Bank’s Internal Audit & Compliance
*FTSEB is the FTSE/Athex-CSE Banking Index
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5. Manager Overview
Harvest Financial Services Ltd
• Leading Investment Management Company Based in Nicosia,
Cyprus
• Regulated by the Cyprus Securities & Exchange Commission
License No. 021/03
• Member of the Investor Protection Fund (TAE)
• Member of the Financial Planning Association (Practitioners
Division)
• Only Investment Firm in Cyprus to have association with a local
banking institution.
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6. Manager Overview
Over 10 Years of Experience in the Provision of Wide Range
of Mutual Funds, Hedge Funds & Portfolio Management Advisory
Services:
Tailored Portfolio Construction
Construction & Management of Diversified High Quality Fund
Portfolios Tailor Made for Private & Institutional Clients
Distribution of Hedge Funds
Distribution of a Wide Range of Fund of Hedge Funds Products
to Retail & Institutional Clients
Structured Products
Structuring & Management of Products Linked to Hedge Funds
Traditional Investment Portfolio Management
Construction & Management of Traditional, Predominantly
Long/Short Portfolios
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7. Manager Overview
Harvest Financial Services Ltd
Head Office in Nicosia: key management and staff nearby &
available to investors to answer questions regarding
investment strategy, performance, mechanics & administration
Affiliated with some of the World’s most prestigious product &
investment service providers
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8. Manager’s Style
Integrated Fund Management
Flexibility
Integration
Competitive Fund
Competitive Fund
Innovation Management
Management
Reactivity
Competitiveness
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9. Manager’s Objectives
Capital Appreciation
Capital Appreciation Absolute Return
Absolute Return Capital Preservation
Capital Preservation
Risk Adjusted
Risk Adjusted Capital Protection
Capital Protection
Equities/Futures
Correlation
Correlation Techniques
Techniques
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10. Fund’s Objectives
Harvest One Percent Fund
Aggressive Absolute Return Fund
Monthly target return objective of 1%
Annual target return objective above 12%
Volatility of the Index as of 3 June 2009 is 57%
→ Above average returns on a risk adjusted basis
It is expected that the fund will have higher than average
volatility but through diversification of strategies can mitigate
draw downs during bear market environments.
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11. Fund’s Objectives
high
Venture Capital
Private Equity
Aggressive Funds
Target
RETURN Small cap stocks
Upside
Large cap stocks
Government Bonds
Time-deposits
Downside
low Cash
low RISK high
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12. Attractive Features
Harvest One Percent Fund
70% of Investments:
Index Tracking of the Banking Sector on Cyprus & Greek Stock
Exchanges – FTSE/Athex-CSE Banking Index
30% of Investments:
Exploiting mispriced securities within Athex & CSE
Multi Instrument Global Investments such as:
Equities, Bonds, Derivatives, CFDs, GDRs, ADRs
Use of derivatives to protect positions
Aggressive yet conservative approach:
Retaining 50% of the portfolio in Cash during bear markets
Low Entry amount to Investors: (Minimum: EUR 10,000)
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13. FTSE/ATHEX-CSE BANKING INDEX
Stock Closing Price % % Market %
Listing Name Code (16/06/2009) Change Weighting Capitalization Participation
Alpha Bank S.A. ALPHA 8.87 -4.1 100 3,645,362,903.24 15.09
Agricultural Bank of Greece S.A. ATE 1.63 -4.1 20 295,174,888.74 1.22
Bank of Cyprus Public Company Ltd BOCY 4.09 -3.8 100 2,399,446,173.04 9.93
Marfin Popular Bank Public Company Ltd CPB 2.28 -4.2 100 1,892,686,821.72 7.83
National Bank of Greece S.A. ETE 18.3 -11 100 9,088,773,122.70 37.62
EFG Eurobank Ergasias S.A. EUROB 7.95 -8.6 75 3,145,762,780.43 13.02
Hellenic Bank Public Company Ltd HB 1.23 -3.9 75 365,693,532.45 1.51
General Bank of Greece S.A. TGEN 1.93 -5.4 40 85,643,428.85 0.35
Piraeus Bank S.A. TPEIR 7.5 -6.3 100 2,522,043,892.50 10.44
TT Hellenic Postbank S.A. TT 5.05 -4.4 50 718,276,559.10 2.97
Source: Athens Stock Exchange http://www.ase.gr
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14. Advantages
Why Track the Banking Index?
First ever Fund in the region to track extensively the Banking
Index of Cyprus & Greece combined
The Banking Index includes both the highest capitalized & most
liquid financial listings in both Cyprus & Greece
Banks: represent over 90% of the Cyprus Market Capitalization
Banks: represent over 50% of the Greek Market Capitalization
Cyprus & Greek Banks enjoy medium credit ratings
Banks in Cyprus enjoy increasing foreign deposits despite global
financial crisis
Cyprus & Greek Banks not as affected by the world Financial
Crisis as most developed nations due to their small but flexible
economies which adjust easier to economic downturns
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15. Advantages
Cyprus
Lowest Taxes within EU
Positive GDP growth despite world financial crisis
Recent developments in terms of oil explorations between
Cyprus & neighbouring nations is deemed promising
Market valuations are low & dividend yields are attractive
Market is currently trading at low levels, with prospects for
significant upside expected shortly with market recovery
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16. Advantages
Greece
Higher recorded GDP growth rates than average EU nations
Positive GDP growth despite world financial crisis
Major Investor in Neighbouring Countries
Significant Benefactor from EU Fund inflows
Market is currently trading at low levels, with prospects for
significant upside expected shortly with market recovery
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17. Summary of Terms
Final Maturity • Open Ended investments Unlimited holding period.
Currency • EUR or currency equivalent on the subscription date.
Form • Shares – ICIS UNITS
Target Initial Fund • [●] MM, minimum 5MM
Size
Issue Price • 100%
Redemption Amount • The shares will be redeemed on the NAV:
• The Shares may be redeemed prior to that on a monthly basis after year 1 .
• Share Price (t) – Early Redemption Premium, whereby the Early Redemption
Premium is initially 4%, and then decreasing by 1% on each anniversary of the Issue
Date, until reaching 0%
Additional Investments • Investors will be able to subscribe additional amounts in the fund on a monthly
basis.
Initial Allocation into • The Initial Allocation of the Issuer to the Underlying Fund will be equal to 100%;
the Underlying Fund thereafter the Trading Administrator will adjust the allocation between the assets of
the Issuer in accordance with the Rebalancing Rules
Investment Manager • Harvest Financial Services Ltd -
Transaction Fees • Investment Manager Fees: 2.0% annual management fees on NAV and an incentive
fee of 20% of annual returns in excess of 3 month EURIBOR rate
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18. Risk Statements
Investment Horizon: The fund has a minimum holding period of 2 years with unlimited duration. Investors must maintain
capital for this period.
Non-Reliance on Historic Past performance does not guarantee future performance; investment in the fund should be based upon
Returns: a complete assessment of their terms.
Limitations of Simulated Certain presentations and back-testing or other statistical analysis materials that may have been
Returns: provided in connection with explanations of the mechanics and/or potential returns of the Notes use pro
forma analysis and hypothetical circumstances to estimate how the Reference Portfolio may have
performed prior to its actual existence. Harvest provides no assurance or guarantee that the Notes will
operate or would have operated in the past in a manner consistent with those materials. As such, any
historical returns projected in such material, or any hypothetical simulations based on this analysis,
provided in relation to the fund may not reflect the performance of, and are no guarantee or assurance
in respect of the performance or returns of, the fund.
Non-Linear Returns: Absent the occurrence of a Knock Out, the return on the Notes will be based on the performance of the
Reference Portfolio over time. As such it is not possible to predict the return on the fund simply by
reference to the initial and final values of the Reference Portfolio. The application of the Fund’s
Mechanics may result in an opportunity cost when the return on the fund is compared to either a direct
investment in the Reference Portfolio or as the underline assets principal protected investment where
the exposure to the Reference Portfolio is achieved through a conventional call option issued by the
product providers.
Clean Up Event: If there is a significant reduction in either the value of the Reference Portfolio or, shortly after issuance
of the fund, a rapid decline in interest rates, a Clean Up Event may occur. Under both such
circumstances, the return on the fund will cease to offer any potential capital gain as a function of the
future performance of the Underlying Fund and will effectively become that of the remaining asset
classes.
Credit Risk: The value of the fund may decline dramatically based on market conditions. Investors understand that
there are risks involved and capital may decline due to market conditions and valuations. Past
performance is not guaranteed for future returns.
Disclosure of Investor It may be required for purposes of the Investment Manager’s compliance procedures to disclose to the
Identity: name of the initial investor in the fund.
LIMITED OFFER
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19. Important Legal Note
• The material provided herein is for informational purposes only. It does not constitute an offer to sell or a
solicitation of an offer to buy any securities relating to any of the products referenced herein, notwithstanding that
any such securities may be currently being offered to others. Any such offering will be made only in accordance
with the terms and conditions set forth in the Offering Memorandum pertaining to such fund. Alternative
investments such as hedge funds and ICIS are subject to less regulation than other types of pooled investment
vehicles, may be illiquid and can involve a significant use of leverage, making them substantially riskier than the
other investments, including any products which may be shown as comparison herein. Prior to investing,
investors are strongly urged to review carefully the Offering Memorandum (including the risk considerations
described therein), and all related fund documents, to ask such additional questions of the Investment Manager as
they deem appropriate, and to discuss any prospective investment in the Fund with their legal and tax advisers in
order to make an independent determination of the suitability and consequences of an investment.
• This presentation does not constitute an offer or solicitation to any person in any jurisdiction in which such offer
or solicitation is not authorized or to any person to whom it would be unlawful to make such offer or solicitation. It
is the responsibility of any person or persons in possession of this material to inform themselves of and to
observe all applicable laws and regulations of any relevant jurisdiction. Prospective investors should inform
themselves and take appropriate advice as to any applicable legal requirements and any applicable taxation and
exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant
to the subscription, purchase, holding, exchange, redemption or disposal of any investments.
• Investment in ICIS Funds are suitable only for sophisticated investors for whom an investment in such fund does
not constitute a complete investment program and who fully understand, and are willing to assume and
understand, the risks involved. While the given material is subject to change and, although based upon
information which we consider reliable, it is not guaranteed as to accuracy or completeness. No person has been
authorized to give any information or to make any representation, warranty, statement or assurance not contained
in the Offering Memorandum and, if given or made, such other information or representation, warranty, statement
or assurance may not be relied upon.
• Past performance is not a guide to future performance and the value of investments and the income derived from
those investments can go down as well as up. Future returns are not guaranteed and a loss of principal may
occur. Harvest Financial Services Ltd makes no warranty or representation that the security and or
recommendation/the fund made are appropriate for all recipients and investors.
• Opinions expressed are current opinions as of the date appearing in this material only. No part of this material
may be i) copied, photocopied or duplicated in any form, by any means; or ii) redistributed without Harvest
Financial Services Ltd prior written consent.
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20. Important Information
“The Central Bank of Cyprus shall not be liable by virtue of its recognition of the ICIS or by
reason of its exercise of the functions conferred on it by the International Collective Investment
Schemes Law. Recognition of the ICIS does not constitute a warranty by the Bank as to the
creditworthiness or financial standing of the various parties to the ICIS”.
Supervision of ICIS
In accordance with section 3 of the Law, the Central Bank of Cyprus is the regulatory and
supervisory authority in the Republic of Cyprus for ICIS, their managers and trustees.
An ICIS must sell, redeem or repurchase its units at the request of unit holders, in accordance
with its constitutional documentation. Units may not be issued as partly paid and may not be
sold unless the equivalent of the net issue price is paid. Basic Rules for the calculation of sale,
redemption or repurchase price can be found in “Regulations on the valuation of the
property of an ICIS”.
Taxation
Any gains or profits generated by an ICIS of any type, including a unit trust or an investment
limited partnership, are subject to an effective tax rate of 0,425%, while no further tax is
imposed on any dividends or other distributions made by an ICIS to its unit holders. The
income of managers and trustees, if not permanent residents of the Republic, which is
generated from services they offer to ICIS is exempt from income tax.
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21. Service Providers
professionals
Board of Directors
Advisory Board
Investment Manager: Harvest Financial Services
Administrator: Hellenic Bank Public Ltd
Custodian: Hellenic Bank Public Ltd
Auditors: PKP Professional Services Ltd -KPMG
Legal Advisor: Drakos & Efthymiou
Bankers: Hellenic Bank Public Ltd
BNP Paribas Cyprus Ltd
National Bank of Greece Cyprus Ltd
KPMG
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