The Global Voyager Fund Ltd.

The Global Voyager Fund Ltd.

We manage portfolios all over the world through our Global Voyager Fund Ltd.

This is Clarien’s open-ended mutual fund company registered and incorporated with limited liability right here in Bermuda, and with ordinary shares listed on the Bermuda Stock Exchange. We have structured the Fund to provide investors the opportunity to access a diverse portfolio, customised to meet your specific investment objectives.

The Fund has appointed these positions and companies:

  • Administrator and Registrar—Apex Fund Services Ltd.
  • Custodian – RBC Investor & Treasury Services (“RBC I&TS”) Toronto
  • Listing Sponsor—Clarien BSX Services Ltd.

The Fund offers several share classes, all denominated in U.S. dollars. It is managed by Clarien Investments Ltd. (CIL) as Investment Manager and a number of sub advisors, as detailed according to investment class below.

The Fund provides information concerning investment in its shares and classes. Investors should be familiar with this information before investing in the Fund. None of the shares in the Fund’s capital is registered under securities legislation in the United States (U.S.) or Canada. The Fund is not recognised as a collective investment scheme under any United Kingdom (U.K.) financial services law. Shares are offered solely on the basis of the information and representations contained in the Prospectus, which investors should read in conjunction with the Fund’s Memorandum of Associations and By-Laws, the Fund’s latest annual report, and account audit reports.

 

Investment Classes

    North American Equity Class

    The investment objective of this class is to provide long-term total returns through investment in equity and equity-related Canadian and U.S. securities. Tetrum Capital Partners Ltd. manages the North American Equity class. Based in Winnipeg, Canada, Tetrum currently manages $1.6 billion in assets. Tetrum seeks out undervalued companies and analyzes their financial condition, management, and their industries to assess value and return potential. This disciplined selection system provides class performance that has surpassed historic averages while reducing associated market risk. Tetrum achieves diversity by selecting approximately 60 holdings. The manager generally holds a security for a number of years depending on market conditions and the industry. Tetrum also holds a security until it becomes overvalued, replacing overvalued and underperforming securities with securities of better value. On average, the portfolio allocates 80% to U.S. and 20% to Canadian securities.

    International Equity Class

    The investment objective of this class is to provide long-term capital appreciation through investment in a diversified portfolio of publicly traded equity and equity-related securities outside of North America. Pyrford International Ltd. manages the International Equity class. Based in London, England and owned by Bank of Montreal Financial Group, Pyrford is a boutique asset management business with more than $3 billion in combined assets under management. Pyrford has extensive experience investing in markets around the world and managing large pools of assets for retail and institutional investors. With respect to the International Equity class, the manager aims for low absolute volatility and low portfolio turnover. As manager, Pyrford analyzes dividend yields and earnings growth to select International Equity stocks.

    Small Cap Growth Class

    The investment objective of this class is to maximise long-term capital appreciation through investment in publicly traded equity securities of small, rapidly growing companies, or established companies with accelerating rates of earnings growth. Schroders Investment Management (Luxembourg) S.A. manages the Small Cap Growth class. Based in London, England, Schroders currently manages $226 billion in assets. The manager seeks to identify companies that have compelling business models, strong management teams and attractive valuation levels. The portfolio consists of 100 to 150 stocks, diversified by company type. Approximately 50% to 60% of the portfolio is invested in mispriced growth opportunities, 20% to 30% in companies with stable revenues and earnings, and 20% to 30% in turnaround situations. Schroders may invest in U.S. and non-U.S. securities.

    Global Fixed Income Class

    The investment objective of this class is to maximise returns through investment in high-quality debt securities of issuers throughout the world. Based in Hamilton, Bermuda, Clarien Investments Ltd. (CIL) manages the Global Fixed Income class. CIL uses distinguished fund managers with positive risk-return profiles. CIL dynamically weighs assets within the portfolio in an ongoing effort to reduce overall volatility. The Global Fixed Income class consists of approximately 75% sovereign and supra-sovereign international issues and 25% corporate high quality issues mostly concentrated in emerging markets. CIL monitors macroeconomic factors to determine asset allocation. This detailed approach helps avoid systemic risk and helps protect investors from harmful political and economic events.

    Preferred Shares Class

    The investment objective of this class is to seek long-term capital appreciation and high current income through investment in NYSE-traded preferred equity securities. Based in Hamilton, Bermuda, Clarien Investments Ltd. (CIL) manages the Preferred Shares class. CIL selects investments on the basis of superior dividend yields, targeting companies with investment-grade or higher credit ratings. These securities may include:

    • Traditional Preferred
    • Redeemable Preferred
    • Trust Preferred
    • Third-Party Preferred
    • Exchange-Traded Debt
    • Over-the-Counter Debt
    • Euro Dollar Debt

    CIL performs due diligence on all underlying positions in an attempt to ensure each company’s credit conditions and solvency are appropriate for investment. Specifically, CGIL analyzes financial statements, outstanding issuance, special covenants and other factors that might help the manager make investment decisions. CGIL also analyzes issuance structures and potential tax implications.

    Short Term Income Class

    The investment objective of this class is to provide consistent and stable excess return, irrespective of market conditions, through an actively managed investment duration strategy. Based in Hamilton, Bermuda, Clarien Ltd. (CIL) manages the Short Term Income class. CIIL aims to outperform the U.S. Treasury two-year total return index by minimising interest rate risk in rising yield environments, and by extending duration in falling yield environments. CIL maximises liquidity and minimises credit risk by limiting the investable universe to only the safest USD-denominated debt securities. This approach makes the Short Term Income class a secure alternative to interest-rate sensitive bond index funds and low-yielding money markets accounts.

    Managed Balance Class

    The investment objective of this class is to provide long-term capital growth using strategic asset allocation based on an efficient portfolio. Based in Hamilton, Bermuda, Clarien Investments Ltd. (CIL) manages the Managed Balance class. CIL designed the portfolio using a downside measure of risk versus return to minimise volatility and maximise capital appreciation through asset class diversification. The portfolio includes a mixture of equities (55%), fixed income (35%) and alternative offshore mutual funds and securities (10%). This class is designed for investors who have moderate risk tolerance.

    High Yield Bond Fund Class

    The fund will primarily invest in USD denominated, cash paying debt rated in the upper and middle tiers (BB-B rated) of the corporate debt marketplace .Based in Philadelphia, USA, PENN Capital Management manages the High Yield Bond Fund class. PENN will tactically invest in debt rated below B, including debt rated CCC, stressed debt, distressed debt, convertible bonds and convertible preferred securities in situations where, the return opportunity exceeds the risk of downside loss. The maximum issuer weighting at cost is 3% of the portfolio’s market value, the maximum industry weighting is 15% or 3x the benchmark index. The style will maintain a 150 company limit in order to maintain ability to generate alpha through security selection. Cash is limited to a maximum of 10% of the portfolio’s market value.

 

Clarien Investments Limited
25 Reid Street, Hamilton HM 11 P.O. Box HM 665 Hamilton HM CX Bermuda
Tel: +441.294.2565 Email: investments@clarienbank.com
www.clarienbank.com
This information and the contents on this website or any content accessible through the links on this document are compiled from various sources and websites, provided for information purposes only without taking into account any person’s objectives, financial situation or needs. This information does not constitute advice, or a solicitation, offer or recommendation to buy or sell any shares of the Fund, to effect any transactions of the Fund, or to conclude any transaction of any kind whatsoever. The contents on this or other accessible websites are not intended to provide any personalised financial, accounting, tax, legal or investment advice to anyone in any jurisdiction. A person should, before acting on any information contained in the websites, consider the appropriateness of the information with regard to his or her personal objectives, financial situation or needs. A person should obtain professional advice regarding his or her own circumstances before making any decision affecting his or her financial situation. All investments involve risk. The value of investments may rise or fall and investors may not retrieve the money they invested. The Bermuda Monetary Authority regulates the Fund and licenses CIL to conduct investment business.
This document is provided for information purposes only without taking into account any person’s objectives, financial situation or needs and does not constitute a solicitation or offer, or advice or recommendation, to buy or sell any shares of The Global Voyager Fund Ltd. (“Fund”), to effect any transactions of the Fund, or to conclude any transaction of any kind whatsoever. A person should, before acting on any information contained in this document, consider their personal objectives, financial situation or needs. A person should obtain professional advice regarding his or her own circumstances before making any decision affecting his or her financial situation. Subscriptions for shares of the Fund can only be made on the basis of its latest prospectus and simplified prospectus together with the latest audited annual report (and subsequent unaudited semi-annual report, if published), copies of which can be obtained, free of charge, from Clarien Investments Limited.
For more information, please visit www.clarienbank.com
Past performance is not indicative of future performance. Expressions of opinion contained herein are subject to change without notice. The Global Voyager Fund Ltd. is not available to US Persons. The Global Voyager Fund Ltd. is subject to and authorized under the Investment Funds Act 2006 as a Bermuda standard fund. The Global Voyager Fund Ltd is a wholly owned subsidiary of Clarien Investments Limited. Clarien Investments Limited is an affiliate of Clarien Group Limited and is licensed by the Bermuda Monetary Authority to conduct investment business in accordance with the Investment Business Act 2003.