As of 30th September 2014 Silk African Lions AR Fund Launch 27-March-2012 Investment Objective and Policy Total Fund Size (EUR) 83,990,921 The Fund Invests in listed securities across the entire African continent. The successful African markets, as in Asia, are leading the industrialization of the region. At Silk Invest we believe that this new generation of nations will become the future lions. Our focus in these dominant markets is to invest in the securities which will both outperform their local peers and become true leaders in their field. Share Price End of Month (EUR) 131.01 Number of Holdings 48 Benchmark Information**: Silk Africa Composite Index Fund Manager Funmi Akinluyi Opening New Routes for Investors www.silkinvest.com Performance since inception EUR 50% 40% 30% 20% 10% 0% -10% Apr-12 Oct-12 Apr-13 Oct-13 Silk African Lions (AR) Apr-14 Silk Africa Composite Index *All fund performance data are on a NAV to NAV basis, net income reinvested. **The benchmark information is only for information purposes, Silk African Lions Fund is a fully discretionary mandate and is not managed against a specified benchmark. The Silk Africa Composite Index is comprised of an equal weighting of Nigeria Stock Exchange All Share, EGX 30, MSCI South Africa, MSCI Morocco and MSCI FM Africa. Performance Analysis (EUR) Silk African Lions-AR (Net) Silk Africa Composite Index MTD YTD 1 year Annualised since inception 3.85% 15.71% 19.69% 11.08% 3.50% 18.67% 26.71% 7.27% Financial Ratios and Statistics Price/Earnings (PE) 2015 Dividend Yield 2015 Target Return Standard Deviation Sharpe Ratio 11.11x 2.27% 32.35% 7.96% 2.38 Risk Consideration This fund may enter into transactions in instruments such as options, financial futures, currency futures, swaps and instruments for the management of credit risk. Investors should have a long-term investment horizon. The very high level of returns they expect is matched by their highly pronounced risk tolerance. Performance data represents past performance which is not a reliable indicator of future results. Silk Invest is supervised and regulated by the UK Financial Conduct Authority, the US Securities and Exchange Commission (SEC) and the Dubai Financial Services Authority (DFSA) Compliance disclaimer This document is issued by Silk Invest Limited which is regulated by the Financial Services Authority. This document is issued for your information only and does not constitute the giving of investment advice nor does it constitute or form part of any offer or invitation to purchase, sell or subscribe for any investments or the solicitation of any offer or invitation, nor does it, or the fact of its publication, form the basis of, or can it be relied on, in connection with any contract therefore. Silk Invest makes no representations or warranties as to the accuracy of any of the information or content herein. Shares in Silk Invest funds may only be subscribed for pursuant to the terms of the respective offering memorandum (the ”Offering Memorandum”). Some Silk Invest funds may be unregulated collective investment scheme, the promotion of which is restricted. No permitted recipient may further distribute copies of this document to any other person. There are significant risks associated with an investment in any Silk Invest fund. Investors are referred to the relevant Offering Memorandum. Nothing contained in this report sheet constitutes investment, legal, tax or other form of advice. As of 30th September 2014 Silk African Lions Market Capitalisation (NAV %) Market Cap (Million USD) Percentage <1000 21.89% 1,000-5,000 41.85% >5,000 30.38% Geography (Weight %) Egypt South Africa 14.51 Kenya 12.39 Morocco 7.42 cash Top Ten Holdings 5.88 Ghana 3.00 Senegal 2.77 Mauritius 2.26 Zambia 2.03 Tunisia 1.00 Company Country Sector Weight (%) Commercial International Bank Egypt Banks 6.38 Global Telecom Holding Egypt Telecom Services 4.79 Construction & Engineering Six of October Development & Investment Egypt Real Estate 4.75 Wireless Telecommunication Ser Equity Bank Ltd Kenya Banks 3.68 Diversified Telecommunication Egyptian Financial Group-Hermes Holding Co Egypt Capital Markets 3.39 Diversified Financial Services Nestle Foods Nigeria Nigeria Food Beverage & Tobacco 3.28 Materials 3.12 Dangote Cement MTN Group Lafarge Cement Wapco Nigeria Sonatel Sectors (Weight %) Banks 23.99 12.04 Food & Beverages 10.02 9.75 Real Estate Management &… Nigeria South Africa Telecom Services Nigeria Materials Senegal Telecom Services Fund Domicile Luxembourg Management Fees (in percentage per annum) Up to 2.5% p.a. Performance Fees No Performance Fee 9.06 7.35 Cash 5.88 5.72 Capital Markets Chemicals Specialty Retail 3.05 2.99 2.77 AR Class (EUR) 27.63 21.11 Nigeria Household Durables & Products Industrial Conglomerates 4.58 2.79 1.91 1.69 1.10 Automobiles 1.10 Containers & Packaging 1.09 Paper & Forest Products 0.97 Pharmaceuticals 0.96 ISIN codes WKN codes LU0747618790 A1JT3Q For more information, please contact Silk Invest 145 Leadenhall Street London, EC3V 4QT United Kingdom +442080881040 Fund Currencies Euro www.silkinvest.com Silk Invest is supervised and regulated by the UK Financial Conduct Authority, the US Securities and Exchange Commission (SEC) and the Dubai Financial Services Authority (DFSA) Compliance disclaimer This document is issued by Silk Invest Limited which is regulated by the Financial Services Authority. This document is issued for your information only and does not constitute the giving of investment advice nor does it constitute or form part of any offer or invitation to purchase, sell or subscribe for any investments or the solicitation of any offer or invitation, nor does it, or the fact of its publication, form the basis of, or can it be relied on, in connection with any contract therefore. Silk Invest makes no representations or warranties as to the accuracy of any of the information or content herein. Shares in Silk Invest funds may only be subscribed for pursuant to the terms of the respective offering memorandum (the ”Offering Memorandum”). Some Silk Invest funds may be unregulated collective investment scheme, the promotion of which is restricted. No permitted recipient may further distribute copies of this document to any other person. There are significant risks associated with an investment in any Silk Invest fund. Investors are referred to the relevant Offering Memorandum. Nothing contained in this report sheet constitutes investment, legal, tax or other form of advice.
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