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Exceptional Investment Funds
Firth Asian Systematic Equities Fund


  ISIN Class NAV Fx Daily MTD YTD

Firth Asian Systematic Equities Fund

The Compartment will directly invest primarily in shares of companies located in, incorporated in, headquartered in, listed on exchanges in or with significant operations in or significant income derived from Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, the PRC, Singapore, Taiwan and Thailand. The Compartment may also directly invest in smaller or developing economies in Asia such as Bangladesh, Cambodia, Laos, Pakistan, Sri Lanka or Vietnam. The Compartment may invest up to 10% in China A Shares when investing in the PRC if a suitable method of market access becomes available notably such as but not limited to the Shanghai Hong Kong Stock Connect Programme.

The Compartment will directly invest in a diversified portfolio of listed equity securities. The Compartment will generally only invest in securities admitted to official listing on a recognized stock exchange, or dealt in on another regulated market. Although the Compartment intends to invest in a portfolio of not less than 40 stocks and not more than 150 stocks, it is not restricted in or subject to any material concentration or diversification restrictions, and may hold a greater or more limited number of investment positions. The Compartment may, for efficient portfolio management purposes, gain market exposure through the use of derivative instruments solely in the form of exchange traded index futures.

The Compartment will typically be near fully invested but may hold liquid assets on an ancillary basis. Under normal market conditions, investment in liquid assets and debt instruments of any kind will not exceed 25% of the Compartment's net assets. In exceptional market circumstances and on a temporary basis only, this limit may be increased to 100% with due regard to the principle of risk spreading.

The Investment Manager intends to meet the Fund’s objective primarily through systematic stock selection and risk management. This is not a high frequency nor aggressive trading strategy and it is not intended to attempt to time shorter term market movements. While portfolio returns will be measured against the Benchmark Index, portfolio management will not be constrained by reference to the Benchmark Index.

For the avoidance of doubt, the Compartment will not invest more than 10% of its net asset in UCITS and other UCIs (as defined under "Investment Restrictions" (A) (1) d)).

Investment Manager

Firth Investment Management Pte Ltd ("Firth") has been appointed as Investment Manager to manage the investment and reinvestment of the assets of the Compartment.

Firth, a private limited company, was incorporated in Singapore on 28 May 2007. Firth holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore, and is thereby licensed under the Singapore Securities and Futures Act, (the "SFA") to conduct the regulated activity of fund management to accredited and institutional investors as defined in the SFA. Firth is an independent Asia ex-Japan equity investment manager based in Singapore Richard Firth is the principal investment officer and founding shareholder of the company. He has worked in the investment management industry since 1987, principally at Schroder Investment Management. He has spent the majority of his career resident in Asia and investing

in Asia ex-Japan equities. Firth has researched and created its own investment process for Asia ex-Japan equity investment. The two key elements of the process are a stock selection engine and a risk management framework. Firth generates its own ideas and conducts its own research into the investment universe. In considering appropriate investments for the portfolio, significant attention is paid to a stock’s valuation and to the company’s financial, operating and management attributes.

Firth has researched and created its own investment process for Asia ex-Japan systematic equity investment. The process incorporates fundamental stock analysis, capital management and portfolio optimisation techniques to identify and manage investment opportunities. The process is highly structured, and principally model-based.

Download the Firth strategy PDF document by clicking here.

Please click to visit their website. Please note that by clicking on the link you are leaving the Hereford Funds website and Hereford Funds cannot accept any responsibility for the content of those websites.

Investors should refer to the Hereford Funds prospectus for complete information.

Daily Fund Nav's
Date Class NAV Daily %
09/08/2019 CB 94.23 -1%
09/08/2019 L2 87.05 -0.98%
09/08/2019 L1 86.62 -0.99%
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Date Class NAV Daily %
09/08/2019 D 177.13 -0.64%
09/08/2019 BI 141.81 -0.63%
09/08/2019 AI 224.41 -0.63%
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Date Class NAV Daily %
09/08/2019 A1 89.76 -0.73%
09/08/2019 L 119.15 -0.72%
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Date Class NAV Daily %
09/08/2019 U 262.53 -1.13%
09/08/2019 D 396.82 -1.13%
09/08/2019 BI 177.38 -1.13%
09/08/2019 AI 251.85 -1.13%
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Date Class NAV Daily %
08/08/2019 L2 128.9 0.79%
08/08/2019 L1 127.43 0.8%
08/08/2019 E 129.49 0.79%
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