report-jan-2015

ERIC MONTHLY PERFORMANCE REPORT JAN 2015

1CONFIDENTIAL DOCUMENT

ERIC – DIVERSIFIED PROGRAM

ERIC’s Diversified Trend-Following Program is systematic and technical.

The Program utilizes a mathematical algorithm to analyze technical data in order to generate trading signals.

These signals are applied to a diversified portfolio comprising of commodities, equity & currency in a

predominantly quantitative or mechanical fashion.

Our program does not necessarily expect profitability over the short-term but is, instead, geared to generate

competitive returns over the long-run.

Long periods of break even or equity declines are to be expected.

A strict money management discipline is in place, the design of which is intended to maximize return while

diminishing volatility.


PERFORMANCE PRESENTATION – JAN 2015

CONFIDENTIAL DOCUMENT 3

Pre Tax Return till date 10.77%. Current month performance is 24.5%

MonthInvested

CapitalReturn

Capital - End of

MonthReturn (%) VAMI

10-Nov-14 1,000

30-Nov-14 10,00,000 6,707 10,06,707 0.7% 1,007

31-Dec-14 10,06,707 (1,16,871) 8,89,836 -11.6% 890

31-Jan-15 8,89,836 2,17,839 11,07,675 24.5% 1,108

DETAILED PERFORMANCE REPORT – JAN 2015


DateBeginning

Balance

Add/Sub

Capital

Gross

Realised

Profit / Loss

BrokerageNet, Realised

Profit

Change in

Unrealised

Profit

Interest

Income

Gross

Performanc

e

Balance

Before

Distribution

Hurdle Rate

Accrued

Annual

Fee

Gross Profit

Accrued

Ennovate

Fee

Net

Performanc

e

Ending

BalanceReturn % VAMI

8% 2% 30%

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

10-Nov-14 10,00,000 10,00,000 10,00,000 1,000

30-Nov-14 10,00,000 (11,148) 862 (12,009) 20,400 - 8,391 10,08,391 6,667 1,667 57 17 40 10,06,707 0.7% 1,007

31-Dec-14 10,06,707 (53,465) 6,128 (59,593) (55,600) - (1,15,193) 8,91,514 6,667 1,678 (1,23,538) - (1,23,538) 8,89,836 -11.6% 890

31-Jan-15 8,89,836 1,70,093 2,412 1,67,680 89,200 - 2,56,880 11,46,716 6,667 1,483 2,48,730 37,558 2,11,173 11,07,675 24.5% 1,108

Fund Inception Date 10 th Nov, 2014

Unrealised Profit is calculated after reducing transaction costs and considering closing value of position as of 1 st Feb, 2015

NOTES TO PERFORMANCE TABLEA summary of the significant accounting policies which have been followed in preparing theaccompanying performance table is set forth below:

1. Beginning Balance equals the ending equity from the previous month, if applicable, andincludes the sum of all cash, accrued interest income, accrued brokerage commissionsand miscellaneous expenses and the current market value of all open commoditypositions.

2. Additions are the amounts, other than through sources of income, added at the start ofthe period. Withdrawals are the amounts, other than through sources of expense,withdrawn at the start of the period.

3. Gross Profit (Loss) is the gross realized gain/(loss) on closed futures contracts during themonth. It is not reduced by Brokerage Commissions and Miscellaneous Expenses.

4. Brokerage Commissions and Miscellaneous Expenses are recognized on an accrual basisand represent the commissions charged per side by the futures commission merchant pluscharges by certain exchanges and self-regulatory organizations and other charges tothe account.

5. Net Realized Profit (Loss) represents the sum of Total Realized Profit (Loss) lessBrokerage Commissions and Miscellaneous Expenses.

6. Change in Unrealized Profit (Loss) represents the total increase (decrease) from thepreceding month in open commodity positions. Unrealized gains (losses) on futurescontracts are calculated at the end of each month based on contract sizes and thedifferences between the commodity futures contract closing price and the price at whichthe contract was initially purchased or sold.

7. Interest Income is recognized on an accrual basis and represents interest earned onliquid funds, if any, held as margin in the trading account, and/or interest earned, ifany, on equity balances at the futures commission merchant.

8. Gross Performance is the sum of Net Realized Profit (Loss), Change in Unrealized Profit(Loss) and Interest income.

9. Balance before distribution is the sum of Beginning Balance, Additions and GrossPerformance.

10. Accrued interest is the amount of interest earned by the investor’s capital during themonth. As per the agreement it is 8% of the amount invested.

11. Accrued annual fee is the amount of annual fee earned by Ennovate Solutions during themonth. As per the agreement it is 2% of the funds under management, calculated on thebeginning monthly balance.

12. Gross Profit is calculated by reducing the Accrued Interest and Annual Fee from the NetPerformance (Note 8)

13. Accrued Ennovate Fee is 30% of the Gross Profit. The fee’s will follow higherwatermark.

14. Net Performance equals Gross Profit minus Accrued Ennovate Fee .

15. Ending Balance equals the sum of Beginning Equity plus Additions minus Withdrawalsplus Net Performance.

16. Monthly Rate of Return is determined using the “Time-Weighting” method. It isdetermined by dividing Net Performance for a month by the weighted average ofBeginning Equity plus Additions less Withdrawals. The weighted average is computedby dividing the sum of each respective daily Beginning Equity plus Additions lessWithdrawals balance, before reinvested profits or losses occurring during the month, bythe number of days in the month. Monthly Rate of Return may not be an accurateindicator of performance since it assumes that Net Performance is realized on a pro-rata basis over the daily weighted average of Beginning Equity plus Additions lessWithdrawals during the month.

17. Index is included for informational purposes only and represents the estimatedcompounded monthly value of each hypothetical Rs.1,000 investment assumed to havebeen made as of the beginning of the period presented. Index is calculated as 1 plusthe Monthly Rate of Return times the prior month’s Index. Index may not be an accurateindicator of performance since it assumes a continuous investment with no subsequentadditions, withdrawals or distributions of accumulated profits.


MANAGEMENT TEAM

Sameer Gunjal

Sameer has a varied experience of 8 years in capital markets

He is the managing partner of Ennovate Solutions, which advises clients on fund management

He is a corporate trainer and visiting faculty with several premier Business Schools and Training institutions like Dun & Bradstreet

& IMS Proschool

Prior he has worked with Creditpointe Services as Sector Lead, and with CRISIL Irevna Research for a team of 4 Analysts from a

premier Investment bank, to do equity research aligned to the US Business Services sector and Canadian Metals & Mining sector.

Sameer has done his MBA from NITIE, Mumbai and Mechanical Engineering from VJTI, Mumbai. He has cleared all 3 levels of

the CFA, USA Program.

CONFIDENTIAL DOCUMENT 6

DISCLAIMERThis presentation has been prepared solely for informational purposes and may not be relied on in any manner as legal, tax or investment advice or as an offer to sell or the solicitation of an offer to buy an interest in any fund.

This presentation should be considered confidential as it contains important information about the fund’s risks, fees and expenses and may not be reproduced in whole or in part, and may not be circulated or redelivered to any person without the prior written consent of Ennovate Solutions.

Certain information contained herein constitutes “forward-looking statements”, which can be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “anticipate”, “project”, “estimate”, “intend”, “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of any fund may differ materially from those reflected or contemplated in such forward-looking statements. Past performance is not a guide to or otherwise indicative of future results .

Except where otherwise indicated herein, the information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstances existing or changes occurring after the date here of.

None of the information contained herein shall constitute, or be construed as constituting or be deemed to constitute “investment advice”.

The investments in Systematic products/strategy rely on various economic factors and are subject to market risks and forces affecting the capital markets. The value of the portfolio under products/strategy can go up or down depending on the various factors that affect the capital market.


Office No. 1, Gunjal Complex, Off. J M Road, Deccan Gymkhana, Pulachiwadi, Pune – 411004

email: [email protected] , Mob.: 9158582792CONFIDENTIAL DOCUMENT

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