INSTITUTIONAL PRESENTATION. November 2015

Transcription

1 INSTITUTIONAL PRESENTATION November 2015

2 COMPANY OVERVIEW

3 Background Investment Focus Investment Approach Key Investment Strategies / Products Partnership with The Principal Founded in 1999; based in SP, Brazil Around USD million AUM 1 Approximately 50 Employees / 60% Investment Professionals Became part of Principal Financial Group in April, 2012 Multi Alpha Generation Strategies & Multi Distribution Channels Combination of an in-depth top down analysis with bottom-up asset picking Actively managed equity long only funds, equities long short, macro, structured funds (real estate, credit and timber), asset allocation and offshore investment products In April 2012, Principal acquired 60% stake of Claritas capital. The Principal is a leading global financial company with presence in over 18 countries, 20.6 million clients 2 and U$516.2 billion assets under management 2 1 As of: 10/30/ As of: 09/30/2015 3

4 STRENGTHS Key elements of our active management strategy A disciplined, repeatable investment process Multidisciplinary approach: combination of bottom-up stock picking with an in-depth top down analysis Local presence: on the ground research teams Independent, proprietary fundamental research Emphasis on risk management Experienced and diverse Investment team with complementary skills and backgrounds Compliance and Alignment of Interests Partners have substantial part of their wealth invested in the same funds offered to investors Focus on asset management: no conflicts of interest PFG partnership (since April 2012) Access to buy-side global research and international asset management know-how. Strong compliance requirements, infra-structure and legal controls 4

5 MAIN PARTNERS AND EXECUTIVES Partners share a long-term working relationship and over 20 years of experience with leading financial institutions Carlos Ambrosio Citibank Matrix Claritas Helder Soares Salomon Matrix Claritas Ernesto Leme Citibank Salomon Matrix Harvard Goldman Sachs UBS Claritas Diego Silva PFG Chile Compass Group MIT PPL Corp Principal Financial Group (PFG) Chile Claritas Eduardo Morais Matrix Claritas Mario Issa Crefisul Fator Matrix BankBoston JPM GP Investimentos Claritas Damont Carvalho JPM BRAM ABN Fator Claritas Claudio Mifano Claritas Paulo Frade Claritas Cassiano Morelli ABC Brasil Rio Bravo Claritas Flávio Castanheira Banco das Nações Thomson Financial Focus Principal Financial Group Brasil Claritas 5

6 Equities Macro Timberland Real Estate Execution Credit & FIDCs Institutional Distribution Affluent HNWI Local Distribution International Distribution Products Operations HR Finance Risk Marketing Client Services Legal & Compliance IT & Administration Strategic Decision Making ORGANIZATIONAL CHART Board Roberto Walker acting as President Executive Committee Senior Investment Committee Commercial and Products Committee Risk & Compliance Committee Wealth Management Committee Credit Committee Helder Soares acting as President Valentin Carril (PFG) Carlos Ambrosio (partner) Ernesto Leme (partner) Fernando Torres (PFG) Damont Carvalho (partner) Eduardo Morais (partner) Diego Silva Marcela Rocha Ernesto Leme acting as President Carlos Ambrosio (partner) Helder Soares (partner) Mario Issa (partner) Flavio Castanheira Marcos Machado Diego Silva acting as President Carlos Ambrosio (partner) Helder Soares (partner) Ernesto Leme (partner) Fernando Torres (PFG) Cristina de Fiori Ernesto Leme acting as President Alan Feldon Victor Freitas Helder Soares (partner) Eduardo Morais (partner) Damont Carvalho (partner) Mario Issa (partner) Flavio Castanheira Carlos Ambrosio (partner) Mario Issa acting as President Carlos Ambrosio (partner) Eduardo Morais (partner) Cassiano Morelli (partner) Ernesto Leme (partner) Fernando Damasceno CEO Carlos Ambrosio CIO Helder Soares Structured Products Mario Issa CCO Ernesto Leme COO Diego Silva 6

7 STRATEGIES AND CLIENT DIVERSIFICATION STRATEGIES DISTRIBUTION CHANNEL Affluent 1% Asset Alocation 32% Open Funds 18% Institutional 31% HNWI 38% PFG 23% Structured 27% 3rd Party 30% Total assets under management as of October 2015: USD million. 7

8 As of: 10/30/2015 AUM (BRL MM) AND KEY MILESTONES Apr Strategic partnership with Principal Financial Group Principal Funds Asset Allocation Structured Funds Open Funds Jun - Launch of first local fund for institutional investors Jan - Long only strategy launched with Claritas Ações. Jan - Start of ABS activities Dec - Inception of Claritas Long Short - the first Brazilian long short equity fund Dec - Inception of Claritas G4 Fund - Class Brazil Long Short Aug - Inception of Claritas Hedge - one of the first Brazilian macro funds. May - Long Only Value Strategies begin. 8

9 INVESTMENT STRATEGIES Open Funds Structured Products Asset Allocation International Exposure Long / Short Equities Value Conservative High Yield (biased towards small Timberland Moderate Preferred Securities and mid caps) Enhanced Ibovespa Real Estate ABS Bold Aggressive Global Equity LatAm Equity (index aware) Macro Tailor Made (index aware) 9

10 CLARITAS INVESTMENT FUNDS Strategy Fund Inception date Benchmark Minimum Management Subscription Fee (a.a.) (USD) NAV Periodicity Subscription Redemption Date Redemption Forms Redemption Settlement Return Goal LONG & SHORT G4 FUND - CLARITAS LONG SHORT MARKET NEUTRAL Dec12, 2001 Libor 50,000 2,00% Weekly (every Weekly Wednesday) and the (every last business day of Wednesday) each calendar monthy Until the last Business Day of each calendar month One calendar month Redemption proceeds will be paid within ten (10) after the redemption date 6% to 8% alpha over benchmark EQUITIES G4 FUND - CLARITAS EQUITY VALUE Apr 30, 2008 Libor 50,000 2,00% Weekly (every Wednesday) and the last business day of each calendar monthy Weekly (every Wednesday) Redemption can be requested until the last Business Day of each calendar month One calendar month Redemption proceeds will be paid within ten (10) after the redemption date Absolute 20% to 25% p.y. (4 years cycle) CLARITAS LATIN AMERICAN EQUITY FUND Sep 20, 2013 MSCI LatAm 2 million (I Class) 1,00% Daily Daily Daily Daily 5 days after notification period 3-5% p.a. alpha over benchmark 10

11 SERVICE PROVIDERS & AWARDS

12 SERVICES PROVIDERS Custodian Fund Administrator Fund Auditor 12

13 Ano 18 No 264 Outubro / 2014 Ano 12 No 71 Junho / 2014 Edição 258 Abril / 2014 Ano de Dezembro / 2013 Ano 19 No 274 Setembro / 2015 Ano 13 No 73 Junho / 2015 Ano 19 No 270 Maio / 2015 Dezembro / 2014 MOST RECENTE AWARDS SUPLEMENTO INVESTIMENTOS Claritas Institucional FI Multimercado - Excellent Claritas Inflação Institucional 3 stars Claritas Ações 3 stars Claritas Institucional 3 stars Claritas Institucional Excellent Claritas Global High Yield Excellent Claritas Long Short Excellent Claritas Institucional 3 stars Claritas Ações 3 stars SUPLEMENTO INVESTIMENTOS Claritas Global High Yield Excellent Claritas Institucional 4 stars Claritas Ações Excellent Claritas Institucional 4 stars 13

14 Av. Brigadeiro Faria Lima, andar São Paulo - São Paulo Brazil t f This presentation has been prepared for informational purposes only and is intended only for the designated recipients hereof, contains confidential information and may also be legally privileged. It is neither intended, nor should be considered, as an offer, solicitation or recommendation to buy or sell shares of any investment fund managed or sponsored by any entity of Claritas Administração de Recursos Ltda. ( Claritas ) nor should it be construed as such in any jurisdiction where such offer, solicitation or recommendation would be illegal. This presentation is not intended to be, nor should be considered, a basis for any contract for sale or purchase of any security, loan or other financial product, or as an official confirmation, or statement of Claritas or its affiliates. It is not intended to provide specific advice for you, and should not be relied upon in that regard. You should not act or rely on any information provided herein without seeking the advice of a professional. This presentation contains assumptions, estimates, illustrations and indicative values (the Information ), which may be amended at any time thereby impacting on the outcome of the presented business. Although collected from reliable and selected sources, Claritas does not ensure the accuracy, updating, precision, adequacy or veracity of the Information provided herein. No representation is made that any transaction can be effected at the values provided herein. Neither Claritas nor its affiliates, directors, officers or employees assume any responsibility whatsoever for any direct or consequential loss or damage arising from the use of, or reliance upon, any information in this presentation. Neither Claritas nor its affiliates, directors, officers or its employees shall have any legal responsibility to ensure that any client acts in accordance with a applicable law or regulation. The past is not necessarily a guide to the future performance. Any performance figures presented herein are gross of taxes. Investors must note that an investment in any investment fund managed or sponsored by Claritas is subject to risks. The value of investments may fall as well as rise and investors may not get back the amounts invested. Pursuant to the regulations enacted by ANBIMA ( The Brazilian Financial and Capital Markets Entities Association ), an analysis of at least 12 (twelve) months is recommended when evaluating investment fund s performance. BEFORE MAKING AN INVESTMENT DECISION, PLEASE READ THE RELEVANT PROSPECTUS, THE FUND S RULES AND OTHER OFFERING MATERIALS IN THEIR ENTIRETY. INVESTMENT FUNDS PERFORMANCE IS NOT GUARANTEED BY FUND ADMINISTRATORS OR FUND MANAGERS, OR BY ANY CAPITAL PROTECTION MECHANISM OR THE BRAZILIAN CREDIT GUARANTEE FUND (FGC). Nothing in this presentation constitutes investment, legal, tax or other advice nor is it to be relied upon in making an investment decision. This presentation is not directed to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the availability of the information contained herein is prohibited. This presentation may not be reproduced, distributed or published by any recipient hereof for any purpose. Administrator/ Distributor: BNY Mellon Serviços Financeiros DTVM S.A. CNPJ: / Av. Presidente Wilson, 231, 11º andar Rio de Janeiro RJ CEP Telefone: +55 (21) Fax +55 (21) SAC: sac@bnymellon.com.br ou +55 (21) , +55 (11) , ouvidoria@bnymellon.com.br ou

15 São Paulo Av. Brigadeiro Faria Lima, andar São Paulo - São Paulo Saiba o que a Claritas pode fazer por você: claritas@claritas.com.br