EQUAM Global Value, FCP EQUAMVA LX 97.96 € 30 September 2015

Description

EQUAM Global Value invests in a diversified portfolio of companies with clear business models and solid capital structure when they trade at a significant discount to their intrinsic value. We are patient, long term investors. EQUAM Global Value is subject to strict risk management and diversification parameters to minimise the risk of permanent loss of capital. Our investment portfolio is the result of a thorough analysis, investing only in situations with quantifiable and limited downside and with asymmetric risk return profile, where upside potential exceeds significantly downside and stress test scenarii. In the absence of compelling investment opportunities, we are able to hold cash patiently.

EQUAM Global Value is a - domiciled UCITS fund. EQUAM Capital is the registered financial advisor to the Fund, and is devoted exclusively to the research and analysis of potential investments for the Fund.

Main holdings

Company Currency Country Sector Type of investment Weight Alstom SA EUR Industrial Special Situation 5.2% Hornbach-Baumarkt-AG EUR Retail Compounder 4.6% Ares Allergy Holdings PLC EUR France Healthcare Special Situation 4.1% MITIE Group PLC GBP United Kingdom Business Services Compounder 4.1% Bank of New York Mellon Corporation USD Finance Restructuring 3.8% NRJ Group SA EUR France Commercial Services Deep value 3.2% Aryzta AG CHF Consumer goods Deep value 3.0% Halliburton Company USD United States Industrial Services Special Situation 2.9% Rolls-Royce Holdings plc GBP United Kingdom Industrial Compounder 2.9% Chargeurs SA EUR France Industrial Deep value 2.8% Total Top 10 36.6% Total Equities 78.9%

Portfolio summary Sector Country Strategy

Technology Switzerland Canada Commercial Greece 5% 4% 3% Special Situation Business Services Services 3% Deep value France 19% 13% 25% 16% 20% Real Estate 3% United States Finance 28% Retail 12% 6% Germany 9% Consumer goods Restructuring 7% Industrial Netherlands Services 2% 16% Healthcare 10% Compounder 5% 40% Industrial United Kingdom Spain South Korea 6% Industrial 3% 18% 3% 4% 20% NAV evolution and exposure to equity

EQUAM Global Value Class A - NAV and NAV at target prices

150 145.21 140 Portfolio potential upside 60% 130 120 Investment Level 79% 110 97.96 100 Fund potential upside 47% 90 80 Number of investments 32 70

Incometric Fund - Equam Global Value

Bloomberg (Class A) EQUAMVA LX Registered in Spain CNMV number 587 Fund Advisor Equam Capital ISIN Class A LU0933684101 Fees Class A 1% NAV and 8% profit Management Company ADEPA (Lux) ISIN Class C LU1274584488 Fees Class C 1.50% NAV Custodian KBL (Lux) ISIN Class D LU1274584991 Fees Class D 1.25% NAV (min 1 MEUR) Transfer Agent European Fund Admin.