helping investors see opportunities, seize opportunities investors se… · average time deposit...
TRANSCRIPT
![Page 1: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/1.jpg)
Paul Joseph Garcia October 21, 2011
Helping Investors See Opportunities, Seize Opportunities PERAA Administrators’ Conference
![Page 2: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/2.jpg)
Basic Investment Concepts
What are Funds
Investment Insights
Sample Funds and Do it Yourself Portfolios
Q&A
Agenda
![Page 3: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/3.jpg)
Basic Investment Concepts
![Page 4: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/4.jpg)
Family Professionals
Retirees
Students
Couples
Who Can Invest?
![Page 5: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/5.jpg)
• A group of individual securities or investments that have:
– A common financial form e.g. common stocks, bonds, real estate, etc. – Perform in a significantly similar fashion
distinct from other asset types
• Typically, the major asset classes are:
– Cash
– Fixed Income/ Debt instruments
– Equity
– Real Estate
– Alternative Assets
What is an Asset Class?
![Page 6: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/6.jpg)
Ret
urn
Risk
DEPOSITS
EQUITIES
BONDS
OTHERS • Higher returns imply higher risk • Less risk will give lower returns
Time Deposits
Savings Accounts
T-Bills
FXTNs
ROPs
Exchange-listed Stocks
Venture Capital
Real Estate
Jewelry
The Investible Returns
![Page 7: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/7.jpg)
Peso Bond
100
110
120
130
140
150
160
170
180
5/5/03
9/5/03
1/5/04
5/5/04
9/5/04
1/5/05
5/5/05
9/5/05
1/5/06
5/5/06
9/5/06
1/5/07
5/5/07
9/5/07
1/5/08
5/5/08
9/5/08
1/5/09
5/5/09
9/5/09
Oakwood
Presidential
Campaign
Downgrade by
S&P and
Moody’s
• Bunye wiretap
recordings
•Hello Garci; TRO on
EVAT
Rising UST yields;
Hyatt 10 resignation;
Market
correction
Volatility - Part and parcel of Financial markets
Since Inception to October 6, 2009
Geo-political
concerns
No matter how volatile
markets are, it will recover over
a period of time
2H06 bond rally!!!
Government
fiscal concerns
Sources: Bloomberg, ING
Past performance is not necessarily
a guide to future performance.
Financial
industry crisis,
Global recession
![Page 8: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/8.jpg)
Risk Reward: High Return = High Risk, Low Return = Low Risk
Investing is not a Straight Line – subject to volatility
The LONGER you invest [in a risky asset], the greater the chance of a positive return
Investment Horizon medium to long term (3-5yrs).
The younger you are, the more risk you can take.
Diversification reduces risk.
Key Points to Remember
![Page 9: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/9.jpg)
What are Funds?
![Page 10: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/10.jpg)
A FUND is…
Investment Vehicle
Access to the Financial markets (bonds, equities, etc.)
Pools your money with other investors
Investment Manager
What is a Fund?
![Page 11: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/11.jpg)
Professional Management
1 2
• Team • Full time • Shops for the best value • Experience
Affordable
Liquidity
Diversification •Not only in one type of investment
Option A
Option C
Option B
Benefits in Investing in Funds
![Page 12: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/12.jpg)
UNITS OF PARTICIPATION
INVESTMENT MANAGER
…and invested in a portfolio
STOCKS
BONDS
CASH
Investors
Money is pooled…
Php
How do UITFs Work?
![Page 13: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/13.jpg)
Benchmark Performance Comparison
0
20
40
60
80
100
120
140
160
180
Per
cen
tage
(%
)
PSEI HSBC Local Currency Bond Index
91-day t-bill MSCI World Index
JPMorgan Total Return Philippines JPMorgan Emerging Market Bond Index
*All in Peso terms Sources: Bloomberg, BPI Asset Management
![Page 14: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/14.jpg)
Investment Insights
![Page 15: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/15.jpg)
Investment Insight: Financial Planning, the Next Frontier in Investing
![Page 16: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/16.jpg)
Investment Insight: Financial Planning, the Next Frontier in Investing
![Page 17: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/17.jpg)
Cash Dom. Bond Inter. Bond Inter. Equity Phil USD Bond Dom. Equity
Return 8.95% 17.07% 16.03% 13.58% 21.40% 13.17%
Std Deviation 1.16% 3.61% 12.91% 16.39% 14.61% 31.13%
Risk Return Profile (Asset Class)
C ash
Internat io nal
Equity
D o mestic B o nd
P hil. USD
B o nds
Internat io nal
F ixedD o mestic Equity
0%
5%
10%
15%
20%
25%
0% 5% 10% 15% 20% 25% 30% 35%
Risk (Annualized Standard Deviation)
Re
turn
(A
nn
ua
lize
d A
ve
rag
e
Re
turn
%)
17
Risk Return Graph 1991-2005 15-year historical (PHP terms)
![Page 18: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/18.jpg)
Based on BPI/Division 3 SAA Study
Mandate
Asset ClassInvestment
Range (%)
Benchmark
Asset Allocation
(%)
Investment
Range (%)
Benchmark
Asset Allocation
(%)
Investment
Range (%)
Benchmark
Asset Allocation
(%)
Investment
Range (%)
Benchmark
Asset Allocation
(%)
Domestic Equities 5-25 15 15-35 25 20-30 30 45-65 55
International Equities 0-20 10 10-20 15 10-30 20 10-20 15
Total Growth 5-45 25 25-55 40 30-70 50 55-85 70Domestic Fixed
Income 20-80 50 15-55 25 5-45 25 0-20 5
Domestic Dollar Bonds0-10 5 0-10 5 0-10 5 0-10 5
International Fixed
Income 0-10 5 0-10 5 0-10 5 0-10 5
Cash (<1 Year) 0-70 0 0-55 10 0-65 0 0-40 0
Emerging Market Debt5-25 15 5-25 15 5-25 15 5-25 15
Total Defensive 55-95 75 45-75 60 30-70 50 15-45 30
Projected ReturnsAnnualized Volatility
(using 2005-2009 data)
12.550%
20.241%
CONSERVATIVE CAPITAL STABLE BALANCED MANAGED
9.200%
10.205%
9.690%
12.120%
10.700%
14.303%
Strategic Asset Allocation Model Portfolios
![Page 19: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/19.jpg)
Sample Funds and
“Do it Yourself “
Investment Portfolio
![Page 20: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/20.jpg)
Sample: Moderately Conservative Portfolio
Period covered - August 31, 2010- August 31, 2011
![Page 21: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/21.jpg)
Sample: Aggressive Portfolio
Period covered - August 31, 2010- August 31, 2011
![Page 22: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/22.jpg)
Fund Performance*
Figures as of October 3, 2011 *Past performance not indicative of future results
![Page 23: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/23.jpg)
Fund Performance*
Figures as of October 3, 2011 *Past performance not indicative of future results
![Page 24: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/24.jpg)
What to look for in a Fund/Fund Manager?
Superior Investment Performance
Global Investment /management Platform
Global and Local Fund Management Expertise
Seasoned, High Performance Investment Team
![Page 25: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/25.jpg)
Questions?
![Page 26: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/26.jpg)
Thank you! Odyssey Funds
![Page 27: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/27.jpg)
Annex
![Page 28: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/28.jpg)
Performance vs. Peers as of September 22, 2011
Odyssey Funds
![Page 29: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/29.jpg)
Odyssey Equity Funds: Ahead of the Rest
![Page 30: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/30.jpg)
Odyssey Diversified Balanced Fund: Leading the Pack
![Page 31: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/31.jpg)
Odyssey Phil. Dollar Bond Fund: A Top Performer
![Page 32: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/32.jpg)
Odyssey Peso Bond Fund: Top 2
![Page 33: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/33.jpg)
Money Market Funds
![Page 34: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/34.jpg)
Medium-term Peso Bond Funds
![Page 35: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/35.jpg)
Consistent Return - Identifies a fund that
has provided relatively superior consistency and risk-adjusted returns
- A high rating may be the best fit for investors who value a fund's year-to-year consistency
Total Return
- Denotes a fund that has provided superior total returns
- May be the best fit for investors who want the best historical return, without looking at risk.
Preservation
- Demonstrates a fund that has provided superior ability to preserve capital in a variety of markets.
- Choosing Preservation may help to minimize downside risk relative to other fund choices
![Page 36: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/36.jpg)
Lipper Leader Ranking (as of August 31, 2011)
![Page 37: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/37.jpg)
Lipper Leader Ranking (as of August 31, 2011)
![Page 38: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/38.jpg)
Money Market Odyssey Funds
![Page 39: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/39.jpg)
Odyssey Peso Cash Management Fund
Fund Features
Launch Date 25-May-05
Fund Classification (TOAP) Money Market Fund
Fund Currency Philippine Peso
Duration Max 1 year
Benchmark HSBC Money Market Index
Bloomberg Code INGPCSH Index
Trust Fee 0.75% p.a.
A diversified portfolio invested in short-term peso-denominated Philippine government securities, corporate bonds, peso deposits, and similar instruments.
![Page 40: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/40.jpg)
Basically is your starter fund
Most conservative, low duration
Ideal substitute to your average time deposit product
Ideal for 6 months to 1 year investment period
Invested in Short-Term fixed income instruments
Odyssey Peso Cash Management Fund
Highlights NAVPU Graph
Past performance not indicative of future results.
10.50
10.80
11.10
11.40
11.70
12.00
12.30
12.60
12.90
13.20
13.50
13.80
14.10
Apr-07 May-08 Jun-09 Jul-10 Aug-11
Peso Cash Management Fund
HSBC Money Market Index
Figures as of 8/31/11
![Page 41: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/41.jpg)
Odyssey Peso Cash Management Fund
Key Figures and Statistics
Past performance not indicative of future results.
Cumulative Performance 1 mo 1YR 3YRS 5YRS S.I.
Peso Cash Mgt Fund 0.37 3.64 12.16 23.55 36.90
Benchmark 0.85 4.20 13.38 22.89 31.72
Annualized Performance 1YR 2YRS 3YRS 4YRS 5YRS S.I.
Peso Cash Mgt Fund 3.64 3.41 3.90 3.92 4.32 5.07
Benchmark 4.20 3.77 4.28 4.19 4.21 4.43
Net Asset Value per Unit (NAVPU) PHP 13.69
Total Fund NAV (mln) PHP 784.98
Duration (Interest Rate Risk) Years 0.05
Portfolio Weighted Yield to Maturity (YTM) %, net˚ 3.10
Current Number of Holdings 1
Figures as of 8/31/11
![Page 42: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/42.jpg)
Odyssey Peso Cash Management Fund Top Holdings
Maturity Profile Portfolio Allocation
98.79%
0.00%1.21%
Cash Govts Corps
Figures as of 8/31/11
![Page 43: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/43.jpg)
Fixed Income Odyssey Funds
![Page 44: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/44.jpg)
Odyssey Peso Income Fund
Fund Features
Launch Date 1-Oct-07
Fund Classification (TOAP) Medium-Term Fund
Fund Currency Philippine Peso
Duration 3-5 years
Benchmark HLBI (1-5 Years)
Bloomberg Code INGPINC Index
Trust Fee 1.00% p.a.
A diversified portfolio invested in medium-term peso-denominated Philippine government securities, corporate bonds, peso deposits, and similar instruments. The fund also aims to distribute income on a semi-annual basis.
![Page 45: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/45.jpg)
Odyssey Peso Income Fund
Highlights Medium-term bond fund
Recommended investment period at least 12 months
NAVPU Graph
Past performance not indicative of future results.
NAVPUs gross of any income distribution
98100102104106108110112114116118120122124126128130
Oct-07 Sep-09 Aug-11
Peso Income Fund
HP15TR
Figures as of 8/31/11
![Page 46: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/46.jpg)
Odyssey Peso Income Fund
Past performance not indicative of future results.
Cumulative Performance 1 mo 6 mos 1YR 3YRS S.I.
Peso Income Fund 1.77 6.56 7.63 21.59 26.90
Benchmark 1.65 6.55 8.30 25.21 29.20
Annualized Performance 1YR 2YRS 3YRS S.I.
Peso Income Fund 7.63 6.80 6.73 6.27
Benchmark 8.30 6.98 7.78 6.76
Key Figures and Statistics Net Asset Value per Unit (NAVPU) PHP 107.61
Total Fund NAV (mln) PHP 291.71
Duration (Interest Rate Risk) Years 3.86
Portfolio Weighted Yield to Maturity (YTM) %, net˚ 3.68
Current Number of Holdings 7
Figures as of 8/31/11
![Page 47: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/47.jpg)
Odyssey Peso Bond Fund
Fund Features
Launch Date 5-May-03
Fund Classification (TOAP) Long-Term Fund
Fund Currency Philippine Peso
Duration > 5 years
Benchmark HSBC Liquid Bond Index
Bloomberg Code INGPFIN Index
Trust Fee 1.00% p.a.
A diversified portfolio of peso-denominated fixed income instruments (government securities and corporates).
![Page 48: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/48.jpg)
Odyssey Peso Bond Fund
Highlights Significantly more aggressive
than average SDA/TD, therefore higher yield potential
Recommended investment period is 3 to 5 years
Duration is greater than 5 years
NAVPU Graph
Figures as of 8/31/11
Past performance not indicative of future results.
140
150
160
170
180
190
200
210
220
230
Mar-07 May-09 Aug-11
Peso Bond Fund
HSBC LBI
![Page 49: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/49.jpg)
Odyssey Peso Bond Fund
Key Figures and Statistics Past performance not indicative of future results.
Cumulative Performance 1 mo 1YR 3YRS 5YRS S.I.
Peso Bond Fund 2.79 9.43 28.13 47.84 101.60
Benchmark 2.56 10.00 30.15 51.74 116.80
Annualized Performance 1YR 2YRS 3YRS 4YRS 5YRS S.I.
Peso Bond Fund 9.43 9.46 8.61 7.72 8.13 8.78
Benchmark 10.00 9.33 9.18 7.97 8.70 9.74
Net Asset Value per Unit (NAVPU) PHP 201.60
Total Fund NAV (mln) PHP 3,068.15
Duration (Interest Rate Risk) Years 7.56
Portfolio Weighted Yield to Maturity (YTM) %, net˚ 4.73
Current Number of Holdings 16
Figures as of 8/31/11
![Page 50: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/50.jpg)
Odyssey Emerging Market Bond Fund (formerly US Dollar Income Fund)
Fund Features
Launch Date 25-May-05
Fund Classification (TOAP) Medium-Term Fund
Fund Currency US Dollar
Duration 3-5 years
Benchmark JPM EMBIG Div (1-5 years)
Bloomberg Code INGUSIN Index
Trust Fee 1.20% p.a.
A diversified portfolio primarily of investment grade dollar bonds that aims to provide capital appreciation and income growth over time.
![Page 51: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/51.jpg)
Odyssey Emerging Market Bond Fund Highlights Only 1 of its kind in the UITF market
Specifically designed for investors who have too much exposure in Philippine assets but would like to get the same type of yields
True test of diversification – Foreign securities are less closely related to local developments
Access BPI AMTG’s expertise in EM debt
Basket of 9-12 sovereign issues across 4 continents
NAVPU Graph
Figures as of 8/31/11
Past performance not indicative of future results.
NAVPUs gross of any income distribution
9.75
10.25
10.75
11.25
11.75
12.25
12.75
13.25
13.75
14.25
14.75
15.25
Apr-07 Mar-08 Jan-09 Nov-09 Oct-10 Aug-11
Emerging Market Bond Fund
EMBIG (Div1-5 Years) ex-MY
![Page 52: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/52.jpg)
Odyssey Emerging Market Bond Fund
Key Figures and Statistics Returns are gross of fees. Past performance not indicative of future results.
Cumulative Performance 1 mo 1YR 3YRS 5YRS S.I.
Emerging Market Bond Fund -0.12 2.65 8.49 16.80 22.55
Benchmark -0.57 4.62 23.78 40.64 47.58
Annualized Performance 1YR 2YRS 3YRS 4YRS 5YRS S.I.
Emerging Market Bond Fund 2.65 4.94 2.75 2.98 3.15 3.25
Benchmark 4.62 6.85 7.37 7.31 7.06 6.32
Net Asset Value per Unit (NAVPU) USD 9.79
Total Fund NAV (mln) USD 11.07
Duration (Interest Rate Risk) Years 2.80
Portfolio Weighted Yield to Maturity (YTM) %, net˚ 1.47
Current Number of Holdings 10Figures as of 8/31/11
![Page 53: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/53.jpg)
Odyssey Emerging Market Bond Fund Top Holdings
Country Weightings
Maturity Profile
Figures as of 8/31/11
![Page 54: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/54.jpg)
Odyssey Philippine Dollar Bond Fund
Fund Features
Launch Date 5-May-03
Fund Classification (TOAP) Long-Term Fund
Fund Currency US Dollar
Duration More than 5 years
Benchmark JACI Philippines
Bloomberg Code INGPDFI Index
Trust Fee 1.25% p.a.
A diversified portfolio of US$-denominated fixed income instruments issued by the Philippine gov’t and Philippine corporations.
![Page 55: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/55.jpg)
Highlights 1st US dollar denominated
UITF in the industry
Has the longest track record
A long duration bond fund
Invested in ROPs and Philippine corporate bonds
NAVPU Graph
Past performance not indicative of future results.
11121314151617181920212223242526
May-07 Oct-08 Mar-10 Aug-11
Philippine Dollar Bond Fund
JP Morgan Index
Figures as of 8/31/11
Odyssey Philippine Dollar Bond Fund
![Page 56: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/56.jpg)
Key Figures and Statistics Past performance not indicative of future results.
Cumulative Performance 1 mo 1YR 3YRS 5YRS S.I.
Phil. Dollar Bond Fund 1.47 5.81 34.19 54.76 114.20
Benchmark 1.34 5.66 42.43 68.78 148.28
Annualized Performance 1YR 2YRS 3YRS 4YRS 5YRS S.I.
Phil. Dollar Bond Fund 5.81 13.79 10.30 9.56 9.13 9.58
Benchmark 5.66 14.11 12.51 11.66 11.04 11.54
Net Asset Value per Unit (NAVPU) USD 21.42
Total Fund NAV (mln) USD 59.68
Duration (Interest Rate Risk) Years 6.99
Portfolio Weighted Yield to Maturity (YTM) %, net˚ 4.62
Current Number of Holdings 25
Figures as of 8/31/11
Odyssey Philippine Dollar Bond Fund
![Page 57: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/57.jpg)
Balanced Odyssey Funds
![Page 58: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/58.jpg)
Odyssey Diversified Capital Fund
Fund Features
Launch Date 4-Dec-06
Fund Classification (TOAP) Balanced Fund
Fund Currency Philippine Peso
Duration Max 5 years
Benchmark 70% HLBI, 30% PSEi
Bloomberg Code INGDVCP Index
Trust Fee 1.50% p.a.
A diversified portfolio invested in peso-denominated Philippine government securities, corporate bonds, AND stocks listed on the Philippine Stock Exchange (PSE).
![Page 59: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/59.jpg)
Highlights Designed for investors
looking to give their fixed income portfolio a “kicker”
Suited for investors who are willing to take on more risk
Maximum 40% Equity allocation
NAVPU Graph
Past performance not indicative of future results.
75
80
85
90
95
100
105
110
115
120
125
130
135
140
145
150
Dec-06 Apr-09 Aug-11
Diversifed Capital Fund
70% HLBI, 30% PSEi
Figures as of 8/31/11
Odyssey Diversified Capital Fund
![Page 60: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/60.jpg)
Key Figures and Statistics
Past performance not indicative of future results.
Cumulative Performance 1 mo 6 mos 1YR 3YRS S.I.
Div. Capital Fund 2.60 17.05 21.47 46.94 40.69
Benchmark 0.77 10.80 13.78 41.23 46.02
Annualized Performance 1YR 2YRS 3YRS 4YRS S.I.
Div. Capital Fund 21.47 17.34 13.69 7.78 7.46
Benchmark 13.78 13.52 12.19 8.14 8.31
Net Asset Value per Unit (NAVPU) PHP 140.69
Total Fund NAV (mln) PHP 596.38
Current Number of Holdings 45
Figures as of 8/31/11
Odyssey Diversified Capital Fund
![Page 61: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/61.jpg)
Top Five Bond Holdings Portfolio Allocation
Top Five Equity Holdings
36.11%
62.35%
1.54%
Equities Bonds Cash
Figures as of 8/31/11
Odyssey Diversified Capital Fund
![Page 62: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/62.jpg)
Fund Features
Launch Date 12-May-06
Fund Classification (TOAP) Balanced Fund
Fund Currency Philippine Peso
Duration Max 5 years
Benchmark 50% HLBI, 50% PSEi
Bloomberg Code INGDVBA Index
Trust Fee 1.50% p.a.
A diversified portfolio invested in peso-denominated Philippine government securities, corporate bonds, AND stocks listed on the Philippine Stock Exchange (PSE).
Odyssey Diversified Balanced Fund
![Page 63: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/63.jpg)
Highlights Designed for investors looking
for higher yields
A “swing fund”
Maximum 80% Equity allocation
NAVPU Graph
Past performance not indicative of future results.
75
83
91
99
107
115
123
131
139
147
155
163
171
179
May-06 Dec-08 Aug-11
Diversified Balanced Fund
50% HLBI, 50% PSEi
Figures as of 8/31/11
Odyssey Diversified Balanced Fund
![Page 64: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/64.jpg)
Key Figures and Statistics
Past performance not indicative of future results.
Cumulative Performance 1 mo 1YR 3YRS 5YRS S.I.
Div. Balanced Fund 1.90 28.85 59.43 78.09 70.26
Benchmark -0.43 16.21 47.97 74.69 66.89
Annualized Performance 1YR 2YRS 3YRS 4YRS 5YRS
Div. Balanced Fund 28.85 22.55 16.82 8.15 12.24
Benchmark 16.21 16.25 13.95 7.98 11.80
Figures as of 8/31/11
Net Asset Value per Unit (NAVPU) PHP 170.26
Total Fund NAV (mln) PHP 2,624.43
Current Number of Holdings 43
Odyssey Diversified Balanced Fund
![Page 65: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/65.jpg)
Top Five Bond Holdings Portfolio Allocation
Top Five Equity Holdings 70.68%
26.88%
2.44%
Equities Bonds Cash
Figures as of 8/31/11
Odyssey Diversified Balanced Fund
![Page 66: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/66.jpg)
Equities Odyssey Funds
![Page 67: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/67.jpg)
Odyssey Philippine Equity Fund
Fund Features
Launch Date 5-May-03
Fund Classification Equity Fund
Fund Currency Philippine Peso
Benchmark PSEi
Bloomberg Code INGPHEQ Index
Trust Fee 2.00% p.a.
A portfolio of stocks listed on the Philippine Stock Exchange (PSE).
![Page 68: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/68.jpg)
Highlights Invested in high risk, but
historically, the best performing asset class
Fully invested in stocks listed on the (PSE)
Heavily invested in mining and holding firms
NAVPU Graph
Past performance not indicative of future results.
120
145
170
195
220
245
270
295
320
345
370
395
420
445
May-06 Feb-08 Nov-09 Aug-11
Philippine Equity Fund
PSEi
Figures as of 8/31/11
Odyssey Philippine Equity Fund
![Page 69: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/69.jpg)
Key Figures and Statistics
Cumulative Performance 1 mo 1YR 3YRS 5YRS S.I.
Phil. Equity Fund 0.48 40.80 86.40 110.18 333.55
Benchmark -3.44 21.94 61.77 88.07 276.69
Annualized Performance 1YR 2YRS 3YRS 4YRS 5YRS S.I.
Phil. Equity Fund 40.80 31.15 23.07 8.38 16.02 19.26
Benchmark 21.94 22.79 17.39 6.62 13.46 17.26Past performance not indicative of future results.
Figures as of 8/31/11
Net Asset Value per Unit (NAVPU)³ PHP 433.55
Total Fund NAV (mln) PHP 4,928.31
Current Number of Holdings 34
Odyssey Philippine Equity Fund
![Page 70: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/70.jpg)
Top 10 Holdings
Sector Holdings
Figures as of 8/31/11
Odyssey Philippine Equity Fund
![Page 71: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/71.jpg)
Odyssey Philippine High Conviction Equity Fund
Fund Features
Launch Date 1-Feb-07
Fund Classification Equity Fund
Fund Currency Philippine Peso
Benchmark PSEi
Bloomberg Code INGPHCE Index
Trust Fee 2.50% p.a.
A concentrated portfolio of stocks listed on the Philippine Stock Exchange (PSE).
![Page 72: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/72.jpg)
Highlights A concentrated portfolio
Invests in about 20-30 stocks
Represents the fund manager’s outlook or “conviction” as to the best stock picks given quantitative and qualitative evidence.
NAVPU Graph
Past performance not indicative of future results.
405060708090
100110120130140150160170180190200210
Feb-07 May-09 Aug-11
High Conviction Equity Fund
PSEi
Figures as of 8/31/11
Odyssey Philippine High Conviction Equity Fund
![Page 73: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/73.jpg)
Key Figures and Statistics
Cumulative Performance 1 mo 6 mos 1YR 3YRS S.I.
Phil High Con Eq Fund 3.40 46.59 66.84 156.40 94.96
Benchmark -3.44 15.44 21.94 61.77 34.00
Annualized Performance 1YR 2YRS 3YRS 4YRS S.I.
Phil High Con Eq Fund 66.84 49.43 36.87 15.11 15.69
Benchmark 21.94 22.79 17.39 6.62 6.60Past performance not indicative of future results.
Figures as of 8/31/11
Net Asset Value per Unit (NAVPU)³ PHP 194.96
Total Fund NAV (mln) PHP 5,813.09
Current Number of Holdings 24
Odyssey Philippine High Conviction Equity Fund
![Page 74: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/74.jpg)
Top 10 Holdings
Sector Holdings
Figures as of 8/31/11
Odyssey Philippine High Conviction Equity Fund
![Page 75: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/75.jpg)
Odyssey Asia Pacific High Dividend Equity Fund
Fund Features
Launch Date 20-May-08
Fund Classification Equity Fund
Fund Currency US Dollar
Benchmark MSCI AC Asia Pacific ex-Japan
Bloomberg Code INGAPHD Index
Trust Fee 1.75% p.a.
A diversified portfolio of attractively priced stocks with high dividend yields listed in the Asia Pacific region.
![Page 76: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/76.jpg)
Highlights Exposure to equity markets in the
Asia Pacific region
High-dividend strategy
Invests in 100 to 150 stocks
Recovery in Asia is expected to outpace the rest of the world
Managed by ING Asia Pacific, Ltd. (Hong Kong)
NAVPU Graph
Past performance not indicative of future results.
3.75
4.50
5.25
6.00
6.75
7.50
8.25
9.00
9.75
10.50
11.25
May-08 Dec-09 Aug-11
Asia Pacific High Div Eq Fund
MSCI AC AP ex-Japan
Figures as of 8/31/11
Odyssey Asia Pacific High Dividend Equity Fund
![Page 77: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/77.jpg)
Key Figures and Statistics
Cumulative Performance 1 mo 6 mos 1YR 2YRS S.I.
Asia Pac High Div Eq Fund -9.35 -6.56 7.56 17.39 -6.90
Benchmark -8.49 -3.58 12.55 27.09 -2.80
Annualized Performance 1YR 2YRS 3YRS
Asia Pac High Div Eq Fund 7.56 8.35 2.48
Benchmark 12.55 12.73 7.03Past performance not indicative of future results.
Figures as of 8/31/11
Net Asset Value per Unit (NAVPU)³ USD 9.31
Total Fund NAV (mln) USD 88.33
Current Number of Holdings 147
Odyssey Asia Pacific High Dividend Equity Fund
![Page 78: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/78.jpg)
Industry Allocation
Country Allocation
Figures as of 8/31/11
Odyssey Asia Pacific High Dividend Equity Fund
![Page 79: Helping Investors See Opportunities, Seize Opportunities Investors Se… · average time deposit product Ideal for 6 months to 1 year investment period Invested in Short-Term fixed](https://reader033.vdocuments.us/reader033/viewer/2022052101/603b1bf572b5a60c0320959f/html5/thumbnails/79.jpg)
Thank you! Odyssey Funds