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BRADESCO GLOBAL FUNDS Brazilian Equities USD I BRADESCO GLOBAL FUNDS Brazilian Equities USD I Prior Latin America ex-Brazil Equity - Fund name and investment policy changed on 27 July 2017 As of 31/12/2017 Fund Description Calendar Year Net Returns (USD %) - from July 27: Brazilian Equities USD I The fund seeks to maximize returns by investing in public 20,0 listed companies which carry out a preponderant part of 7,8 their economic activities in Brazil. 4,2 4,7 5,5 4,1 5,8 0,0 -3,1-3,2 -3,1 -3,0 Fund Facts Fund Size $ 11.2 million -20,0 Dec 2017 Nov 2017 Oct 2017 Sep 2017 Jul & Aug 2017 Return Inception Date * 30/05/2014 (from July 27) Domicile Luxembourg Brazilian Equities USD I MSCI Brazil 10/40 NR USD * Legal Status SICAV / UCITS Calendar Year Net Returns (USD %) - until July 26: Latin America ex Brazil USD I Base Currency US Dollar 60,0 41,0 Subscription / Redemption Daily 40,0 20,6 19,9 23,3 Settlement Day 4 20,0 0,0 -20,0 -18,4 -18,1 -26,7 -27,6 Share Class Information -40,0 -60,0 Return 2017 (until July 26) 2016 2015 2014 ** USD I ISIN LU1057802578 Latin America ex Brazil USD I MSCI EM Latin America ex Brazil NR USD * Ticker BBG BGLAXBI LX Risk Statistics Sector Allocation (%) Annual Fee (%) 0,80 Std Dev 12,42 25,3 Inception Date 30/05/2014 Financial Services Minimum Investment 1,000,000 US Dollar Alpha 29,10 19,1 Consumer Cyclical Beta 0,12 13,4 Consumer Defensive R2 1,05 8,1 Basic Materials Sharpe Ratio (arith) 2,98 7,8 Industrials Tracking Error 18,13 7,5 Real Estate 4,6 Utilities 3,9 Communication Services 3,4 Holdings-Based Style Map Healthcare 3,2 Energy 0,4 Technology 0,0 7,5 15,0 22,5 30,0 Giant Top 10 Holdings Country Sector Fund (%) CVC Brasil Operadora e Agencia de Viagens SA Brazil Consumer Cyclical 9,0 Bank Bradesco SA Pref Shs Brazil Financial Services 8,5 Itausa Investimentos ITAU SA Brazil Financial Services 8,4 Mid Large Vale SA Brazil Basic Materials 7,8 Bradespar SA Pfd Shs Brazil Financial Services 4,3 Banco do Brasil SA BB Brasil Brazil Financial Services 4,1 Petroleo Brasileiro SA Petrobras Brazil Energy 3,8 Itau Unibanco Holding SA Brazil Financial Services 3,8 Lojas Renner SA Brazil Consumer Cyclical 3,3 Localiza Rent A Car SA Brazil Consumer Cyclical 3,1 Micro Small Deep-Val Core-Val Core Core-Grth High-Grth Total number of positions 35 * MSCI Brazil 10/40 and MSCI EM Latin America ex Brazil are reference indexes. The fund has no official benchmark index ** From inception date until year end BRADESCO GLOBAL FUNDS Brazilian Equities USD I Fund Investment Objective About BRAM Bradesco Global Funds – Brazilian Equities aims to obtain a superior return in the long term by investing mainly in equity and equity related securities BRAM was created in 2001 from the consolidation of Bradesco’s asset of companies which have their registered office in, and with an official management divisions and Bradesco-owned asset managers, bringing listing on a major stock exchange or other Regulated Market of Brazil, as together over 40 years of expertise in the Latin America market. BRAM has well as in companies which carry out a preponderant part of their economic an excess of US$170 billion of assets under management from Brazilian, activities in Brazil. Asian and American retail, private, corporate and institutional clients. BRAM has strong investment capability in fixed income and equities. BRAM is a wholly owned subsidiary of Banco Bradesco, Brazil’s largest privately- owned bank. Fund Investment Policy Diversified portfolio mainly invested in shares and other equity related securities issued by companies and financial institutions listed on the major stock exchange in Brazil, including American Depository Receipts (ADR) and International Depository Receipts (IDR). Manager Portfolio Manager Quarterly Commentary BRAM - Bradesco Asset Management S.A. DTVM Av. Brigadeiro Faria Lima, 3064, 7th Floor October - December Sao Paulo - SP, Brazil Tel. +55 11 3847 9171 Review: During the last quarter of the year, the main alpha generators [email protected] came from our core positions in the retail sector (CVC, Arezzo and www.bradescoasset.com Guararapes), also working in our favour were underweight positions in the sectors of Banking, Food and Utilities. We have slightly modified the portfolio, increasing the selectivity of companies that present growth, but with a lower level of risk, due to Global Distributor increasing uncertainty as the Brazilian presidential elections draw closer. Banco Bradesco Europa S.A. On the other hand, we have reduced exposure to names with high 29, Avenue Porte-Neuve financial leverage, such as Azul Linhas Aéreas. L-2227 Luxembourg Outlook: Our forecast of gradual economic recovery has been corroborated by the performance of several sectors of the economy and, therefore, we Transfer Agent, Custodian Bank and Administrator remain confident for a strong recovery in profit growth of listed BNP Paribas Securities Services, Luxembourg Branch companies, especially those with the capacity to benefit from a more 60, Avenue J.F.Kennedy efficient cost structure (a high degree of operational leverage). L-1855 Luxembourg Auditor KPMG 39, Avenue J.F.Kennedy L-1855 Luxembourg Registered Status This fund is currently registered for sale in Luxembourg Contacts BRAM - Bradesco Asset Management S.A. DTVM Tel. +55 11 3847 5188 [email protected] Bradesco Global Funds – Brazilian Equities is registered in Luxembourg. Investors should be aware that past performance is no guarantee of future performance. Price of units may fall as well as rise and is not guaranteed. Investors may not get back the amount originally invested. Before investing in this product please read carefully the latest prospectus to be aware of the risks. Unless otherwise stated all data on this factsheet is unaudited. Bradesco Global Funds units may be offered, sold or delivered in those countries in which they have received marketing authorization..
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