Argonaut D

Fund objective

The objective of the Sub-Fund is to maximise long term capital growth by investing primarily in a portfolio of micro and small capitalisation European companies. The Sub-Fund will aim to exploit valuation inefficiencies in the market using a strong "value" style approach. The Sub-Fund is actively managed. The Sub-Fund uses the index EMIX Smaller European Companies Net Return EUR for performance comparison. The Sub-Fund does not track the index and can deviate significantly or entirely from the index. The Sub-Fund will invest at least 75% of its net assets (excluding cash and cash equivalents) in equities of companies quoted on European stock exchanges. The remaining assets can be invested in other eligible financial instruments and cash. However, the Sub-Fund will not invest more than 10% of its net assets in undertakings for collective investment. The Sub-Fund is also authorised to invest in financial derivative instruments, for currency hedging and/or for other purposes. Dealing Frequency The net asset value for the Class is calculated on the 10th, 20th and the last calendar day of each month ("the Valuation Day"). The cut-off time to submit subscription orders is 4 p.m., one business days before the relevant Valuation Day. The cut-off time to submit redemption orders is 4 p.m., fifteen business days before the relevant Valuation Day. Distribution Policy The Class is cumulative. No dividend will normally be distributed. Currency The currency of the Class is USD. This is a currency hedged class. It aims to reduce the impact on your investment of movements in the exchange rate between the Sub-Fund currency and the Class currency. Investment Horizon The Class may be suitable for investors with at least a five-year investment horizon. Minimum investment and/or holding requirement The Class is reserved to retail investors.