 | Venture FINAM - Information Technologies Unit Fund
Venture FINAM - Information Technologies Unit Fund (“The Fund”) invests in securities of the IT-companies, engaged in development of software, development, support and management of various Internet-projects, and also in development of other innovative projects. Investment Policy of the Fund The Management Company believes that the biggest potential of the Fund’s capital growth is in increase of cost and of net profits of the companies that are operating in the information technologies (IT) sector. The Fund pursues the objective of a long-term investing of its net assets plus any borrowings for investment purposes (measured at time of purchase) (“Net Assets”) in (i) securities and (ii) shares of authorized capital of Russian limited liability companies (LLCs) with the objective of: generating attractive returns for the ownership of the Fundproviding working capital to the Companiesassisting the management with strategic and advisory inputs- Investment term is set up from 1 year
- The Fund intends to pursue investment opportunities which have a targeted IRR of at least 20% per annum.
- The process of evaluation and selection of companies is vectored towards establishment of portfolio of projects that combine acceptable potential of growth and relatively low investment risks.
Investment Proposal SALE OF 53,000 ADDITIONAL UNITS WITH THE FOLLOW-UP CIRCULATION
ON MOSCOW INTERBANK CURRENCY EXCHANGE (MICEX)In essence the suggested transaction is an initial public offering of the Fund. However, due to constrictions of current Russian legislation, direct IPO of the units is not applicable. Thus, the placement shall be executed by the following procedure. The seller of the units – FINAM INVESTMENT COMPANY JSC tentatively buys out from the Fund 53,000 units. Subsequently these units shall be offered for sale on the MICEX with the ISIN RU000A0JNUN9. Fund’s units maybe subscribed at the calculated price that is equal to the Fund’s Net Asset Value (NAV) portion per one unit at the date of sale. FINAM INVESTMENT COMPANY JSC buys out the additional units at the price calculated in similar manner. FINAM MANAGEMENT LLC., the Manager of the Fund, shall withhold asset revaluation until all the units subject to this proposal are sold to investors. Estimated price of one unit – 9,482.33 RUR ($ 369.18*) At present the units of the Fund are circulating on eth MICEX at the Over the Counter Board List. The Fund’s units trading shall be executed at the Sector of Innovation and Growth Companies – IGC of MICEX (Quotation List «Á»). * at the CBR exchange rate of 1USD=25.6851 RUR as of April 30, 2007 Key Information | Title | “FINAM Information Technologies”
Closed Unit Investment Fund of Venture Investments | | Fund Manager | FINAM MANAGEMENT LLC | | Denomination | Russian rubles | | NAV (as of April 30, 2007) | 1,099,949,736.33 RUR ($42,824,428.81*) | | Domicile | Russian Federation | | Inception Date | December 25, 2005 | | Portfolio Closure Date | February 22, 2006 | | Listing | MICEX, Over the counter board | | Ticker | RU000A0JNUN9 | | Status | Closed | | Life of the Fund | 15 years | | NAV Reporting | Monthly | | Target IRR | 20% | | Min/Max Investments | N/A | | Leverage | None | | Fee Structure | 1.5% management | | Independent Valuation Company | FT-Group LLC. | | Total number of units | 116,000 | | Price of investment unit as of April 30, 2007 | 9,482.33 RUR ($369.18*) | | Net Assets as of April 30, 2007 | 1,101,961,141.01 RUR ($42,902,738.98*) | | ISIN | RU000A0JNUN9 |
* at the CBR exchange rate of 1USD=25.6851 RUR as of April 30, 2007Documents To acquire more detailed information on Venture FINAM-IT Unit Fund and how to invest, please contact: Vladimir F. Kuznetsov
Director, Equity Financing, Investment Banking Department
Tel.: +7 495 204 8154; Fax: +7 495 204 8107
vladfk@finam.ru
Dmitry Y. Polusurov
Manager, Product Sales, Investment Banking Department
Tel.: +7 495 204 8221; Fax: +7 495 204 8107
polusurov@finam.ru | |
