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What do we do

Offering diversification and better risk management of the portfolio, the alternative investments play an ever-growing role in the portfolios of modern investors. Although improving, Czech market is still relatively lacking when it comes to the variety / diversity of the alternative assets available to qualified investors. What is available is limited predominantly to (currently very expensive) real estate, to a smaller extent then to exotic assets like vintage alcohol, cars or art. The common denominator of these investments is the illiquidity of these investments and thus the long holding horizons required of investors.

The goal of the investment company Sirius is to broaden the investment universe of qualified investors by offering them access to alternative assets which:

are available to investors around the world

have reasonable liquidity

have attractive risk-reward ration

do not fluctuate with the financial markets

We believe that such alternative assets are a perfect complement for the portfolios of qualified investors and that sheer number of the alternative asset classes and the peculiarities of these assets effectively preclude individual Czech investors from gaining access to them and from managing their risk. We believe that in the following years the value will be much harder to find in the traditional assets (stocks, bonds) and that alternative assets will rise as a share of investors’ portfolios. That is why we founded Sirius.

How we do what we do

We are a fund of (small) funds

The assets in which we invest cannot be managed from Czech Republic, only from a country where those assets originate. That is, however, only a necessary (and not a sufficient) condition for a successful management of such assets. Using database systems, attending conferences and utilizing an ever-broadening network of contacts in the alternative investment industry permits us to not only identify the assets meeting the criteria described above but also managers that specialize in these assets. That is, however, just the first step in our due diligence.

Not all managers are, obviously, good ones

To navigate the potentially treacherous waters of the alternative investment universe and to find a manager that does his job well requires detailed due diligence of tens of them. This due diligence process is even more important considering the fact that we specialize in smaller funds where internal architecture, processes etc. cannot be assumed to be comparable with those found in multi-billion global asset managers. Smaller size and the potential problems resulting therefrom are balanced by potential for better risk-reward than that found in big funds.

Diligence process

Our diligence process includes, inter alia, the check of the robustness of the investment process and subsequent processes (valuation etc.), background checks of key people, references from other investors, third parties and service providers (valuation agents, administrators etc.) and always includes personal visit wherever it may be in the world. The output of this process is the written comprehensive investment report submitted to and then voted on by the investment committee.

Investing is not the end of it

Timing the exit from any given position is at least as important as getting the pre-investment due diligence right. Funds typically go through lifecycle stages, impacting, especially for funds that are successful (and thus attract capital), risk-reward. We thus continually monitor each position in the portfolio, process which includes regular annual personal visits. We are please to hear from number of funds in our portfolio that we are often “the most demanding” investor they have.

Investing with Sirius

Because

Broadens your investment universe by providing access to a more colorful assortment of global alternative assets which complement your existing portfolios.

Because

Lets you access investments that are detached from the financial markets and have reasonable risk-reward ratio.

Because

Entrusts part of your investments to a respected and experienced investment team with tens of year of combined investment experience.

Because

Aligns interests as managers invest their own money alongside yours.

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We believe,

that both alternative and traditional assets have their place in modern portfolios of investors and that true value will be much harder to find in the coming years than what was the case in the past.

We know,

that more asset classes exist than what is currently available to Czech qualified investors and we want to provide these investors with access to them.

We are

more flexible and more personal than other, mainly institutional asset managers.

Management of investment company

Sirius Team

Contact

Address

Sirius investiční společnost a.s.
Na Perštýně 2
110 00 Praha 1

info@siriusis.cz

+420 603 561 077

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Subfund introduction

Sirius Investments Reserva is the first and currently the largest subfund managed by Sirius investment company. It is open to qualified investors. It aims to consistently deliver non-trivial positive real net return to investors while minimizing the intra-year volatility. Sub-fund offers exposure to non-market risks and does so via diversified portfolio of 20-25 third party funds.

Reserva is

Regionally unique portfolio of alternative investment strategies uncorrelated with the financial markets.

Alternative analogy of the high-yield bond portfolio with the advantage of (i) being detached from the financial markets, and of (ii) having, due to the relative “obscurity” of its assets, better risk-reward.

Reserva offers the combination of the following parameters

Minimal link to financial markets

Assets of Reserva include trade finance, life settlements, weather derivates (de facto reinsurance of catastrophic risks), litigation finance (financing of settled or adjudicated cases), trade claims, private debt and other assets not easily subsumable under any of the previous categories. It is, as investors occasionally remark, a hodgepodge of global alternative investment ideas. We add that it is a hodgepodge by design.

Diversification

Portfolio is diversified at number of levels. First, it is diversified at the level of number of funds that are in Reserva (20-25, making the average exposure to one fund of 4-5%). Second level of diversification comes from geography – our funds are from USA, Africa, Asia and South America, and are denominated in USD, GBP or EUR. Finally, there is a diversification at the level of final assets – our funds typically hold hundreds of life settlements, thousands of trade receivables etc.

Reasonable liquidity

While not as liquid as stocks at the major exchange, our assets are not as illiquid as historical cars, art or land. Statutory liquidity is 6 months. Concrete conditions for redemptions and subscriptions are in the Statute and its addenda.

Hedging of FX risk

Subfund offers CZK share class that is fully hedged against the currency risk and EUR or USD share classes for those investors that require EUR or USD exposure.

Target Return

Class CZK A targets net return to investors of 4-4,5% p.a.

RESERVA Performance (share class CZK A) as of

Up vs down months

Summary of performance

Chyba načtení z XML.

Historical performance of class CZK A investment shares

Chyba načtení z XML.

Historical performance is also available in the current monthly report

    Chyba načtení z XML.

    Chyba načtení z XML.

Other documents and important information

Subscription documents

    Chyba načtení z XML.

Instructions

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Annual reports

    Chyba načtení z XML.

Presentations and Marketing Materials

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Other documents

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Subfund introduction

Sirius Investments Alpha is the youngest subfund managed by Sirius Investment Company. It is open to qualified investors. It aims (i) over long time to approach the performance of mature stock markets, (ii) by maintaining low net exposure to substantially lower the volatility of its returns and thus (iii) to provide high degree of protection against large downside market movements.

Sirius Investments Alpha is

Liquid portfolio of market strategies with low sensitivity to the general direction of market movements and with proven alpha-generating abilities irrespective of such direction. This low sensitivity is achieved by, for instance,

Investing in long-short strategies (that is, strategies simultaneously betting on rise and on fall of market instruments).

Short-term and/or event-driven nature of strategies (for example, bets on the fall of prices of pharmaceutical stocks in response to the announcement of the results of drug tests).

Creating triggers for desired market reaction (for example, releasing reports exposing deficiencies of companies as short activists do).

Currency-hedged fund of smaller hedge funds with unique and specialized strategies – we believe, as our experience taught us, that the only sustainable way to generate alpha is to constantly look for niches.

The main differentiating factors as against the market funds available the Czech Republic are (i) low sensitivity to direction of the market movement (ii) the underlying assets being funds pursuing unique, locally unavailable strategies which often (iii) combine the knowledge from different areas of human knowledge.

Alpha offers the following combination of parameters

Smart exposure to market instruments

Subfund Alpha invests in the portfolio of small (real) hedge funds with narrowly-focused and volume-limited strategies. Its portfolio is composed of two main parts we call “market neutral” and “market non-neutral” one, with targeted split being 50/50. Market neutral strategies (i.e., close to or outright zero beta strategies) to dampen the volatility while generating long-term return of 8-10% p.a. These funds mostly exploit either market inefficiencies (via arbitrage) or mispricing in various relatively opaque markets (municipal bonds, RMBS etc.). Market non-neutral strategies (i.e., non-zero beta strategies) provide “juice” (double-digit returns) with non-zero but managed beta. These are funds with narrow focus (biotech, banking sector, healthcare), proven track record and proven alpha-generating ability.

Portfolio constructed this way blends the advantages of investing in markets, like low valuation or liquidity risk, while being much less sensitive to the vagaries of the financial markets than other market funds.

Diversification

Portfolio is diversified at number of levels. First, it is diversified at the level of number of funds that are in Alpha (10-20). Second level of diversification comes from geography – our funds are from North America, Asia and Europe. Finally, there is a diversification at the level of currencies (USD, EUR) and, obviously, individual underlying assets (multiple positions in each fund).

Higher liquidity

Typical liquidity is 3 months. Concrete conditions for redemptions and subscriptions are in the Statute and its addenda.

Hedging of FX risk

Subfund offers CZK share class that is fully hedged against the currency risk and USD share class for those investors that require USD exposure.

Target Return

Subfund targets net return to investors of 5-8% p.a.

ALPHA Performance (share class CZK X) as of

Up vs down months

Summary of performance

Chyba načtení z XML.

Historical performance of class CZK X investment shares

Chyba načtení z XML.

Historical performance is also available in the current monthly report

    Chyba načtení z XML.

    Chyba načtení z XML.

Other documents and important information

Subscription documents

    Chyba načtení z XML.

Instructions

    Chyba načtení z XML.

Annual reports

    Chyba načtení z XML.

Presentations and Marketing Materials

    Chyba načtení z XML.

Other documents

    Chyba načtení z XML.

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Subfund Introduction

Sirius Investments Danube was second subfund created and managed by Sirius investment company. It is now closed to new investors. It is a portfolio of real-estate-backed loans with low LTV and target net return to investors of 8% p.a. The valuation is quarterly.

DANUBE Performance (share class EUR) as of

Summary of performance

Chyba načtení z XML.

Historical quarterly performance

Chyba načtení z XML.

Historical performance is also available in the current quarterly report

    Chyba načtení z XML.

    Chyba načtení z XML.

Other documents and important information

Subscription documents

    Chyba načtení z XML.

Instructions

    Chyba načtení z XML.

Annual reports

    Chyba načtení z XML.

Other documents

    Chyba načtení z XML.

I would like to receive monthly updates and other reports about the fund

Oversight

The Czech National Bank is the regulatory authority for investment companies in the Czech Republic. It granted a license to Sirius Investment Company on June 12, 2019. Sirius Investment Company was entered into the Commercial registry on September 05, 2019.

Administrator

QI investiční společnost, a.s. from Conseq group serves as the administrator for the investment company. Conseq group is the largest non-bank asset manager in the Czech Republic and represents several hundred investment funds (both foreign and domestic) on the Czech market. The main function of the administrator is the correct calculation of the net asset value (NAV) of the individual subfunds managed by the investment company.

Custodian

Ceska Sporitelna, a.s. is the custodian for the fund. The role of the custodian is, inter alia, to make sure that (i) individual subfunds managed by the investment company own the assets upon which the calculation of their net asset value is based, (ii) no limits are breached. Ceska Sporitelna is one of the largest banks in the Czech republic and is a subsidiary of Erste Group, Vienna.

Shareholder Registrar

QI investiční společnost, a.s. from Conseq group serves as the shareholder registrar for the investment company. The main function of the Shareholder Registrar is to process subscriptions to and redemptions from the subfunds and to keep record of all the shareholders in the fund.

Important Notice

The securities issued by a qualified investors’ fund are for Qualified Investors only. Qualified Investor is a person who has made a declaration that he/she is aware of the risks associated with investing in qualified investors’ fund and whose initial investment in such a fund is at least
 a] EUR 125 000 or
 b] CZK 1 000 000
provided that such an investment in a qualified investors’ fund is suitable for such a person (where suitability is determined on the basis of the investment questionnaire).

The content of this website is intended for informational purposes only and exploration of potential interest among qualified investors. It provides only a brief overview of the structure of the fund and does not substitute for its statute. All parameters listed and all investment ideas are only indicative. The content of this website does not replace expert advice on financial instruments or complete information about risks.

This is not an offer or invitation to buy or sell financial instruments. Neither return on nor return of the investment in any of the subfunds managed by Sirius investment company is secured or guaranteed. For further information contact us at info@siriusis.cz.

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Career opportunities at investment company Sirius

We currently don’t have any job openings

That said, if you are an investment analyst or other investment professional, you can send us your CV and cover letter anytime at info@siriusis.cz. Thank you.

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