The Quater Capital Management Sub-Fund, a sub-fund of Pilatus SICAV p.l.c. is licensed by the Malta Financial Services Authority as a Professional Investor Fund which is available to Qualifying Investors.
The Investment Objective of the Sub-Fund is to achieve absolute returns in the medium to long-term (over a 5 year period) under all market conditions.
There is no guarantee that the investment objective of the Sub-Fund will be achieved and investment results may vary substantially over time.
In order to achieve its objective the Sub-Fund shall invest directly or through other collective investment schemes primarily in a diversified portfolio of instruments including but not limited to: (i) listed and unlisted bonds and other debt instruments, whether traded on the primary or secondary market (ii) listed and unlisted equities, whether traded on the primary or secondary market, (iii) listed and unlisted exchange traded funds and exchange traded commodities, as well as, (iv) financial derivative instruments such as options, futures, forwards, swaps, warrants and covered warrants linked to the above mentioned financial instruments, indices and/or interest rates. The Sub-Fund will be exposed to indices which are traded in the major futures markets in the EU and US and in other selected countries.
The Sub-Fund will follow various investment strategies that focus on different markets, asset classes and time frames with a view to identifying and take advantage of prices inefficiencies and/or directional investment opportunities. The Sub-Fund may invest in collective investment schemes managed by the Investment Manager, including other subfunds of the Company. In this case, the Investment Manager shall re-imburse the Sub-Fund any management and/or performance fees received in connection with the Sub-Fund’s investment in the target collective investment scheme. The Sub-Fund is not expected to have any bias towards any specific issuer, industrial or other market sector or capitalisation.
The Sub-Fund may invest up to 75% of its total assets in bonds and other debt instruments of any rating or maturity issued by supranational banks/institutions, sovereign nations and corporates based in OECD and BRIC Countries. Investments in bonds or other debt instruments issued by entities based in countries which do not form part of the OECD or BRIC Counties shall not exceed 25% of the total assets of the Sub-Fund. The Sub-Fund may invest up to 75% of its total assets in equities, exchange traded funds and exchange traded commodities listed on exchanges in OECD member countries. Investments in equities, exchange traded funds and exchange traded commodities listed on exchanges in non-OECD member countries shall not exceed 25% of the total assets of the Sub-Fund.
The Investment Manager is also expected to invest in FDIs for hedging purposes and the reduction of risk. The SubFund may also invest in short-term fixed income instruments, money market funds and cash and cash equivalents. The Sub-Fund may also retain amounts in cash or cash equivalents, pending reinvestment and to meet operating expenses and redemption requests, if this is considered appropriate to the objective of maximising absolute returns. Uninvested cash which has not been placed as margin may, subject to investment restrictions, be held on deposit in a bank account in the name of the Sub-Fund. When appropriate the Sub-Fund may also employ leverage through borrowing.