EDGE VALUE FIA

OBJECTIVE

The Fund’s objective is to obtain significant absolute returns in the long term through the investment in stocks of companies listed on Bovespa whose intrinsic values are substantially superior to its current market prices.

TARGET AUDIENCE

Brazilian investors looking for long-term returns, who understand volatility and the risks pertaining to equity investments. The fund complies with Resolution 3792, enabling it to receive investments from Brazilian pension funds.

INVESTMENT STRATEGY

As value investors, we seek to concentrate our investments on companies whose fair value estimates are widely superior to the current market price, through the acquisition of minority stakes in publicly-traded companies.

We choose our investments based on the margin of safety that the current market price offers over our fair value estimate for the company, underpinned by a thorough study of the financial and competitive situation of the business, management quality, corporate governance and growth perspectives.

We assess the companies’ fundamentals in several ways. The chart below presents a simplified view of our investment process:

PERFORMANCE

Edge Investimentos only manages long-only equity funds, comprising one open fund named Edge Value FIA and segregated funds for institutional clients.

The Edge Value FIA fund was formed after the merger and later transformation into fund of two investment clubs named Clube Triumph and Clube San Francisco.

When the investment clubs were merged, we opted to maintain the performance history of Clube San Francisco, whose track record dates back to 2004.

The chart below presents the performance of Clube San Francisco since its inception. The red line marks the club’s transformation into fund.

Performance – Edge Value FIA (Former Clube San Francisco) took over Clube Triumph on 08/25/2008

 

 

Clube San Francisco | Edge Value FIA

PERFORMANCE TABLE

DATE EDGE VALUE FIA IBOVESPA FGV 100

YEAR – 2017
20.59%
19.50%
-

January 2.73% 7.38% -
February 4.72 3.08 -
March 0.31% -2.52% -
April 1.55% 0.64% -
May -1.52% -4.12% -
June 0.57% 0.30% -
July 2.85% 4.80% -
August 6.00% 7.46% -
September 3.26% 4.88% -
October -2.88% 0.02% -
November 1.63% -3.15% -
December

YEAR – 2016
28.60%
38.94%
-

January -2.90% -6.79% -
February 3.17% 5.91% -
March 13.38% 16.97% -
April 4.35% 7.70% -
May -1.70% -10.09% -
June 4.21% 6.30% -
July 8.81% 11.22% -
August -0.13% 1,03% -
September -0.94% 0.80% -
October 3.49% 11.23% -
November -5.91% -4.65% -
December 1.06% -2.71% -

YEAR – 2015
-13,10%
-13,31%
-

January -5,73% -6,20% -
February 6,46% 9,97% -
March 1,56% -0,84% -
April 4,94% 9,93% -
May -4,30% -6,17% -
June -2,14% 0,61% -
July -3,92% -4,17% -
August -7,26% -8,33% -
September -1,69% -3,36% -
October 1,67% 1,80% -
November -0,71% -1,63% -
December -1,88% -3,93%

YEAR – 2014
-1,71%
-2,91%
-

January -3,56% -7,51% -6,28%
February 0,19% -1,14% -3,94%
March 2,02% 7,05% 2,21%
April 1,40% 2,40% -3,05%
May -2,16% -0,75% -
June 1,28% 3,76% -
July 3,08% 5,00% -
August 6,56% 9,78% -
September -6,16% -11,70% -
October -0,92% 0,95% -
November -0,33% 0,06% -
December -2,52% -8,62% -

YEAR – 2013
0,25%
-15,50%
-8,58%

January 0,02% -1,95% 0,46%
February 0,50% -3,91% -3,34%
March 1,30% -1,87% -3,74%
April - 0,60% - 0,78% - 2,00%
May - 0,99% - 4,30% - 5,19%
June - 3,15% - 11,30% - 5,97%
July 0,99% 1,64% 2,89%
August -0,15% 3,68% 3,69%
September 2,31% 4,65% 3,16%
October 1,84% 3,66% 2,42%
November -0,91% -3,27% -0,85%
December -0,78% -1,86% 0,17%

YEAR - 2012
27,84%
7,40%
21,77%

YEAR - 2011
-1,90%
-18,11%
-10,58%

YEAR - 2010
18,99%
1,05%
10,22%

YEAR - 2009
85,79%
82,66%
87,65%

YEAR - 2008
-27,18%
-41,22%
-34,09%

YEAR - 2007
40,30%
43,68%
40,06%

YEAR - 2006
33,13%
32,73%
31,55%

YEAR - 2005
29,24%
27,71%
15,15%

YEAR - 2004
35,42%
17,80%
33,17%

CLUBE

TERMS AND CONDITIONS

MANAGEMENT FEE

2.0% p.a.

PERFORMANCE FEE

20% over IBOVESPA with High Water Mark

MINIMUM INVESTMENT

R$ 10,000.00

MINIMUM OPERATION

R$ 1.000,00

MINIMUM BALANCE

R$ 10.000,00

TIME LIMIT FOR OPERATIONS

1:00 p.m.

CONVERSION OF SHARES AT INVESTMENT

24h after resource availability

CONVERSION OF SHARES AT REDEMPTION

27 days from redemption request

REDEMPTION PAYMENT

3 business days from share conversion

TAXATION

15% on nominal gains at redemption

DOCUMENTS

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