BGAF Fund Termsheet (English / Español, A4)

BAFFIN GLOBAL ALLOCATION FUND Ltd.
A fund managed by Baffin Advisors LLC
baffinadvisors.com
The Fund
Baffin Global Allocation Fund Ltd. is an exempted company, incorporated and existing under the laws of
the Cayman Islands. The investment adviser of the Fund, Baffin Advisors LLC, is a NY based registered
investment adviser with the U.S. Securities and Exchange Commission since August 2009. The Adviser is
the portfolio manager of the Fund. All of the Fund’s custodial and bank accounts are held in US financial
institutions. Subscriptions and redemptions are executed within the US financial system.
Strategy
Objectives
The Fund’s investment objective is to preserve capital and generate attractive risk-adjusted returns over
the medium-term. The Adviser will employ a global macro asset allocation investment strategy based on
a fundamental medium-term view of the world, with an emphasis on diversification across geographic
regions, currencies and asset classes. The Adviser’s analytical process is top-down in nature. The Funds
primary investments are expected to include interests in index-tracking and other ETF, bonds, and
currencies. Futures and options could be used for hedging purposes.
The Adviser applies risk controls in the management of the Fund’s portfolio. The Adviser utilizes dynamic
asset allocation by analyzing global information contemporaneously as events occur and assessing the
consistency of a well structured view of the world with the composition of the Fund’s portfolio.
Portfolio
Manager
Martin Anidjar’s academic background and his work experience enable him to provide best of breed
investment management. His working experience both in trading and in research makes him exceptional
in his understanding of all the dimensions involved in portfolio management. Mr. Anidjar set up and
ran the emerging markets segment of a proprietary trading desk at UBS during 2007-2009 and he was
a senior trader at the local markets trading desk of Morgan Stanley during 2005-2007. In terms of his
research experience, Mr. Anidjar was responsible for JPMorgan’s Asia sovereign research strategy and later
JPMorgan’s Latin Local Markets team during 1998-2004.
Mr. Anidjar received his PhD in Economics from the University of Chicago in 1998. He received a magnacum-laude B.A. in Economics from Universidad de San Andrés in 1993.
Other
Details
Prime Broker; Custodian................................................... Oppenheimer & Co. Inc.
Administrator................................................................... Maples Fund Services (Cayman) Limited
Auditor.............................................................................. Deloitte & Touche
Fees
Type of Shares
Investment Range
Annual Fee
ISIN
Class A
U.S.$100,000 - 5,000,000
1.40%
KYG0697M1024
Class B
U.S.$5,000,000 - 10,000,000
1.00%
KYG0697M1107
Class C
U.S.$10,000,000 and more
0.75%
KYG0697M1289
All shares have an additional 0.1% administrative fee. There are no other fees.
All business expenses incurred in the organization and formation of the Fund will be borne by the Adviser.
Subscription Fund shareholders will have the right to subscribe at no cost and redeem any or all of their Common Shares
Redemption at no cost on a monthly basis. In addition, investors also have weekly liquidity upon request subject to a
minimum redemption fee.
Risk Factors An investment in the Common Shares is subject to various risks. Some of those risks are related to the risky
nature of all securities, their volatility and liquidity; as well as other risks related to the Portfolio Manager
decisions, such as the allocation decisions, instrument selection and timing. As in most other financial
investments, there can be no assurance that the Fund will be profitable or that it will not incur losses.
This document does not constitute an offer of investment advisory services by the Adviser or any of its affiliates. This document has
been prepared for informational purposes only, and it is not intended to provide specific investment advice or recommendations
to any particular recipient. This document does not constitute an offer of Common Shares in the Fund; any such offering will be
made solely pursuant to the Fund’s explanatory memorandum. An investment in the Common Shares of the Fund is suitable only for
qualified investors that fully understand the risks of such an investment. Before making an investment in the Common Shares of the
Fund, investors are advised to thoroughly and carefully review the Fund’s explanatory memorandum with their financial, legal and
tax advisors to determine whether an investment is suitable for them.
BAFFIN GLOBAL ALLOCATION FUND Ltd.
Un fondo gestionado por Baffin Advisors LLC
baffinadvisors.com
El Fondo
Baffin Global Fund Ltd. es una compañía exenta, incorporada y existente bajo las leyes de las Islas Cayman.
La Administradora del Fondo, Baffin Advisors LLC, está basada en Nueva York y se encuentra registrada
ante la SEC (Securities and Exchange Commission) desde Agosto del 2009. Todas las cuentas bancarias
y de custodia del Fondo se encuentran en instituciones financieras de Estados Unidos. Asimismo, las
subscripciones y retiros del Fondo son ejecutados dentro del sistema financiero de Estados Unidos.
Estrategia
Objetivos
El objetivo de inversión del Fondo es preservar el capital y generar en el mediano plazo retornos de capital
atractivos, ajustados por el riesgo.
La Administradora empleará una estrategia de inversión basada en “global macro asset allocation”, el
enfoque comienza con el análisis de la macro global, las grandes tendencias, y culmina en la selección de
instrumentos. La Administradora del Fondo ejecuta una visión de mediano plazo con un marcado énfasis
en la diversificación regional, monedas y tipos de activos. El proceso analítico es “top down”. El Fondo
invertirá en activos líquidos y eficientes, principalmente en índices y ETF, monedas, commodities, futuros
y opciones.
La Administradora cuenta con fuertes controles de riesgo en el manejo del Fondo, utiliza una estrategia de
inversión dinámica analizando la información mundial y re-evaluando las implicancias para el manejo del
portafolio y su composición de activos.
Portfolio
Manager
Martín Anidjar posee una excelente combinación de solidez académica y desempeño en el mundo de las
finanzas internacionales. En particular, su experiencia en trading y en research lo dotan de una comprensión
de todas las dimensiones necesarias para la administración de fondos. Martín Anidjar lideró un negocio
propietario de trading de mercados emergentes de UBS entre 2007-2009 y se desempeñó como un senior
trader de mercados locales en Morgan Stanley durante 2005-2007. Martín Anidjar fue responsable de
cubrir research y estrategia soberana asiática en JPMorgan y luego, lideró el equipo de mercados locales de
latinoamérica de JPMorgan 1998-2004.
Martín Anidjar recibió su Doctorado en Economía de la Universidad de Chicago en 1998, y su Licenciatura
en Economía ‘magna cum laude’ en la Universidad de San Andrés en 1993.
Otros
Aspectos
Prime Broker; Custodio................................................... Oppenheimer & Co. Inc.
Administrador (NAV, entradas y salidas)............................ Maples Fund Services (Cayman) Limited
Auditor.............................................................................. Deloitte & Touche
Costos
Clase de Acciones
Rango de Inversión
Comisión Anual
ISIN
Clase A U.S.$100.000 - 5.000.000
1,4%
KYG0697M1024
Clase B
U.S.$5.000.000 - 10.000.000
1,0%
KYG0697M1107
Clase C
U.S.$10.000.000 o más
0,75%
KYG0697M1289
Todas las acciones están sujetas a un gasto administrativo de 0,1%. No existen costos adicionales.
Todos los gastos relacionados a la organización y creación del Fondo son costeados por la Administradora,
Baffin Advisors LLC.
Entrada y
Salida
Los inversores podrán comprar acciones sin incurrir costos de entrada. También podrán venderlas sin
costos de salidas mensualmente. Además, los inversores podrán liquidar sus acciones en períodos
semanales con un costo mínimo nominal.
Riesgos
Invertir en Acciones Ordinarias de un Fondo de Inversiones, conlleva diversos riesgos. Algunos relacionados
con la naturaleza, léase rendimiento, volatilidad y liquidez, de los activos e instrumentos financieros en los
que invertirá el Fondo; y otros relacionados con las decisiones de inversión que tome el Portfolio Manager
del Fondo (selección de tales activos y timing de tales decisiones). De allí que no se pueda garantizar que el
Fondo será rentable o que no incurrirá en pérdidas.
Por favor, referirse al aviso legal del otro lado de la hoja.