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Ayaltis reports exceptional results for its Flagship Fund

Tuesday, May 06, 2014
Opalesque Industry Update - Ayaltis flagship fund Areca Value Discovery finished the first quarter 2014 with a performance of +5.21% in USD. Since Inception in December 2008 the fund returned 57.24% with a volatility of 4.47% p.a. In a challenging environment, we have continued to deliver exceptional performance on a relative and absolute basis.

"We are very pleased with this quarter’s de-correlated performance which clearly illustrates the strength of our risk-adjusted performance structure, especially under erratically volatile market conditions evolving from concerns over weaker weather-related data in the US, a more hawkish US Federal Reserve, more assertive European and Japanese central banks, Chinese growth slowdown and increasing loan defaults, not to forget the ongoing tensions in Russia and Crimea. All of these factors, while unsettling for traditional long only investments, directly feed our relative value opportunity sets. Our portfolio is well positioned for this and we remain confident as we see plenty of attractive opportunities in the years ahead," the company said in a statement.

Areca Value Discovery – Increased Opportunity Set
Despite the quite difficult market environments, Areca SICAV SIF – Value Discovery with a cumulative return of 57.24% since inception and an annualized return of 8.86% and with a volatility of only 4.47% p.a. has well met its return targets. We are particularly proud of the fund’s low correlation to any markets. The fund is a Luxembourg-based SICAV SIF with a concentrated portfolio of 20 to 25 underlying positions which blends deep-value relative value strategies.

The rationale for creating the flagship fund Areca Value Discovery in the midst of the financial crisis in 2008, was an early belief that global deleveraging would present unique relative value opportunities. Market uncertainty creates mis-pricings and readjustments. We expect this cycle to last for the next decade as governments continue to struggle with massive debts and corporates continue to de-lever. The core part of the portfolio invests in funds with asymmetric return profiles, such as relative value credit, event-driven and distressed credit.

The portfolio’s satellite exposure comes from relative value fixed income and specific global macro strategies that aim to take advantage of macro dislocation, market momentum and liquidity.

"Our outlook for the upcoming quarters is exciting, especially for relative value opportunities. In this volatile market environment driven by political uncertainty we continue to focus on mispriced assets resulting from Regulatory changes, Deleveraging and Central Bank price manipulation," the company said.

The recovery in European peripheral countries remains patchy but continues to gradually improve the investment picture with resulting higher volatility in all underlying market segments.

Nevertheless, the company's three main performance drivers should persist since, irrespective of market environment, the influence of these drivers will be with them for the foreseeable future. Regulation, Deleveraging and Central Bank Manipulation represent return driver generators for mis-pricing creating non-correlated sustainable opportunity sets.

Areca Value Discovery – Award Winning Fund
The firm's consistent track record to deliver stable and un-correlated returns has now also been recognized and resulted in our nomination as “Best performing Fund of Hedge Funds over 5 years” by the 2014 HFM Awards. "We have received within the alternative investment industry some of the largest and most recognized awards for risk-adjusted returns since inception of the fund. Our long track record and the numerous awards motivate us to deliver further investment returns in a very challenging market environment," it said.

Ayaltis strengthen its Corporate Structure
After a five years company start-up period in raising assets from long-term sophisticated investors, Ayaltis stays on its course of expanding the firm in 2014 while remaining committed to maintaining high quality standards to its clients. In Q1 2014 we have hired three additional senior investment professionals in order to strengthen our organization and to position it for future growth.

"We are confident that, with the solid foundations we have built, Ayaltis is well positioned for further growth. We continue to expand our infrastructure to ensure excellent resources for our investors and we are pleased to announce that Tselha Audren, Peizhu Li and Caroline Wirth have joined Ayaltis," it continued.

Tselha Audren joined Ayaltis in January 2014 after working seven years at UBS Asset Management’s A&Q Team, where she was responsible for investor relations. Tselha will be key in building a sustainable investor relation to further enhance our client service capabilities.

Peizhu Li joined Ayaltis in March 2014. In the last six years, he worked for SIX Financial Information Ltd where he was involved in developing and enhancing the IT platform of worldwide markets. His experience will be significant to improve our IT infrastructure for research and operations, with the aim to build a first class framework in the FoHF industry.

Caroline Wirth joined Ayaltis in February 2014 as Senior Marketing & Sales. She joined from a London based hedge fund manager where she was responsible for selective European countries as well as heading the marketing strategy. Prior to that Caroline worked for four years as an Equity analyst at Credit Suisse. She will be responsible to increase our core client base in Switzerland and to develop the DACHLI Market - Germany, Austria, and Liechtenstein.

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