Legal notice

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Legal notice (disclaimer)
and privacy notice

 

No Offer

The information published on the website of Abacus Value Capital Fund AGmvK does not constitute an invitation, an offer or a recommendation. The website is not directed to any person in any jurisdiction where (by reason of their nationality, residence or otherwise) the publication or availability of this website is prohibited. Persons to whom such prohibitions apply must not access this website. Finally, the information on the websites is not directed at specific persons, but at those readers who have a general interest in Abacus Value Capital AGmvK.

 

Information required from visitors to this website

The content published on this website is subject to sales restrictions that are specific to individuals. For this reason, upon accessing this website, visitors are required to indicate whether they are professional or private investors as defined by Annex II of Directive 2004/39/EC. Professional or qualified investors holding shares in the Abacus Value Capital Fund AGmvK (Security No. 3516921 | ISIN No. LI0351696211) may state that they are an existing client. All other visitors are prohibited from making this statement. Visitors are required to provide truthful information as applicable and bear full responsibility for their statements. Additionally, visitors bear full responsibility for correctly stating their domicile prior to accessing the website. Incorrect information regarding the investor category, incorrect statements as to whether the visitor is an existing client or incorrect domicile information may lead to the disclosure of data which should not, by law, be disclosed to the visitor. Abacus Value Capital Fund AGmvK cannot be made liable for damages incurred by the visitor as a result of providing incorrect information regarding the investor category and/or the domicile and/or making inaccurate statements as to whether the visitor is an existing client. The data and information about the fund to which the visitor is granted access based on his/her information is solely intended for existing clients and for the investor category indicated by the visitor and the stated domicile. Visitors to the website are fully responsible for observing these restrictions.

 

No Reliance

Although Abacus Value Capital Fund AGmvK has taken all reasonable care in compiling the information on its website, it accepts no responsibility for the accuracy, reliability or completeness of the information provided. The contents of the website may be changed at any time without prior notice. The information is not to be relied on in making an investment or other decision. Please obtain specific professional advice before making any investment decision.

 

Warning about Risks

Please note that the value of an investment may fall as well as rise. The past is not necessarily a guide to the future performance of an investment. The investments are subject to high price fluctuations. These price fluctuations may equal or even exceed the value of the invested amount. Therefore, the preservation of the invested capital cannot be guaranteed. Please also read the risk statement provided in the Prospectus of the funds.

 

Legal responsibility and ownership of the website

This website is owned by Abacus Value Capital Fund AGmvK headquartered in Vaduz, Principality of Liechtenstein.

 

Applicable law and legal venue

Any disputes arising in connection with the use of the website of Abacus Value Capital Fund AGmvK and the associated data storage are subject to the laws of Liechtenstein. Without exception, Vaduz shall be the legal venue.

 

Vaduz, on 01.09.2017

 

 

Data privacy statement

 

Data protection is a matter of trust and your trust is important to us. When processing your personal data, we strictly observe the statutory provisions. With the following data protection information, we would like to give you an overview of the processing of personal data held at Abacus Value Capital Fund AGmvK and the resulting rights in accordance with the provisions of the new Basic Data Protection Regulation of the EU (GDPR) and the Data Protection Act (DSG). Which data is processed in detail and how it is used depends to a large extent on the services and products to be provided or agreed in each case. Due to banking secrecy, Abacus Value Capital Fund AGmvK is obliged to protect your privacy and secrecy and for this reason takes a variety of technical and organisational data protection precautions for all data processing of personal data.

 

Within the framework of our business relationship, we are dependent on the processing of personal data which is necessary for the establishment and execution of the business relationship and the fulfilment of the associated legal or contractual obligations as well as for the provision of services or the execution of orders. Without this data, we will generally not be able to enter or maintain a business relationship, process an order or offer services and products.

 

Should you have any questions regarding individual data processing operations or wish to exercise your rights as described in point 5 below, please contact:

 

Responsible institution:

Abacus Value Capital Fund AGmvK, Schaanerstrasse 29, 9490 Vaduz, Liechtenstein

Phone: +423 377 99 77

 

Contact details of the data protection officer:

Abacus Value Capital Fund AGmvK, Data protection officer, Schaanerstrasse 29, 9490 Vaduz, Liechtenstein

Phone: +423 377 99 77

 

 

1. Which data are processed (data categories) and from which sources do they originate?

 

We collect and process personal data that we receive within the scope of our business relation-ship with our clients. Personal data may be processed at any stage of the business relationship and may vary from person to person.

 

In principle, we process personal data that you provide to us by means of submitted contracts, forms, your correspondence or other documents. If necessary for the provision of the service, we also process personal data which arises or is transmitted as a result of the use of products or services or which we have received from third parties (e.g. your custodian bank, the identification service provider Identity TM), from public authorities (e.g. UN and EU sanctions lists). Finally, personal data may be processed from publicly accessible sources (e.g. trade and association registers, press, Internet).

 

In addition to customer data, we may also process personal data of other third parties involved in the business relationship, such as data of agents, representatives or beneficial owners of a business relationship. We would ask you to also inform any third parties about this data protection information.

 

By personal data we mean the following categories of data:

 

Master data

  • personal details (e.g. name, date of birth, nationality)
  • Address and contact data (e.g. physical address, telephone number, e-mail address)
  • Legitimation data (e.g. passport or identity card data) and Authentication data (e.g. signature sample, log-in information)
  • Data from publicly available sources (e.g. tax numbers)

 

Further basic data

  • Information on services and products used (e.g. investment experience and profile, ad-vice protocols, data on transactions executed)
  • Information on household structure and relationships (e.g. information on spouses or life partners and other family details, authorised signatories, legal representatives)
  • Information on financial characteristics and financial situation (e.g. portfolio and account number, creditworthiness data, origin of assets)
  • Information about professional and personal background (e.g. professional activity, hob-bies, wishes, preferences)
  • Technical data and information on electronic traffic with Abacus Value Capital Fund AGmvK (e.g. records of accesses or changes)
  • Image and sound files (e.g. video or telephone recordings)

 

 

2. For what purposes and on what legal basis will your date be processed?

 

We process personal data in accordance with the provisions of the GDPR and the DSG for the following purposes or on the basis of the following legal bases:

  • To fulfil a contract or to carry out pre-contractual measures within the framework of the provision and brokerage of asset management, investment advice and other financial services which may be provided by Abacus Value Capital Fund AGmvK. The purposes of data processing depend primarily on the specific service or product (e.g. securities) and may include, but are not limited to, demand analyses, advice, asset management and the execution of transactions.
  • To fulfil legal obligations or in the public interest, in particular compliance with legal and supervisory requirements (e.g. compliance with the GDPR, the DSG, the Asset Management Act and Regulations), due diligence and anti-money laundering regulations, market abuse regulations, tax laws and agreements, control and reporting obligations, risk management). If you do not provide us with the necessary data, we will have to fulfil the relevant supervisory obligations and may be forced to terminate the business relationship.
  • In order to protect the legitimate interests of us or third parties for concretely defined purposes, in particular to determine creditworthiness, pursue claims, product development, marketing and advertising, business audits and risk management, reporting, statistics and plan-ning, prevention and clarification of criminal offences, video surveillance to protect the right of domicile and avert danger, telephone recordings.
  • Based on your consent, which you have given us for the provision of asset management services or on the basis of orders such as the disclosure of data to service providers or contract partners of Abacus Value Capital Fund AGmvK.

 

You have the right to revoke your consent at any time. This also applies to the revocation of declarations of consent issued to Abacus Value Capital Fund AGmvK before the GDPR came into force, i.e. before 25 May 2018. The revocation of your consent is only effective for the future and does not affect the legality of the data processed until the revocation.

 

We reserve the right to process personal data collected for one of the above purposes for other purposes as well, if this is compatible with the original purpose or permitted or prescribed by law (e.g. reporting obligations)

 

 

3. Who gets access to the personal data and how long is it stored?

 

Access to your data can be both inside and outside Abacus Value Capital Fund AGmvK. Within Abacus Value Capital Fund AGmvK, only entities or employees may process your data if they need it to fulfil our contractual, legal and regulatory obligations and to safeguard legitimate interests. Other companies, service providers or vicarious agents may also receive personal data for these purposes in compliance with the relevant statutory provisions. Contract processors may be companies in the categories of asset management services, distribution agreements, IT services, logistics, printing services, consulting, sales and marketing. Furthermore, recipients of your data in this context may be other financial services institutions or comparable institutions to which we transfer personal data for the purpose of conducting the business relationship (e.g. custodian banks, brokers, stock exchanges, information centres).

 

If there is a legal or supervisory obligation, public bodies and institutions (e.g. supervisory au-thorities, financial authorities, etc.) may also receive your personal data.

 

Data may only be transferred to countries outside the EU or the EEA (so-called third countries) if

  • this is necessary for the execution of pre-contractual measures or for the performance of a contract, for the provision of services or for the execution of orders (e.g. securities transactions)
  • you have given us your consent
  • this is necessary for important reasons of public interest (e.g. prevention of money laundering) or
  • this is required by law (e.g. transaction reporting obligations).

 

We process and store the personal data for the entire duration of the business relationship, unless there are shorter mandatory deletion obligations for certain data. In addition, the duration of the storage depends on the necessity and purpose of the respective data processing. If the data are no longer necessary for the fulfilment of contractual or legal obligations or for the protection of our legitimate interests (achievement of purpose) or if a consent given is revoked, they are deleted regularly, unless further processing is necessary due to the contractual or legal retention periods and documentation obligations or for reasons of preservation of evidence during the duration of the applicable statute of limitations.

 

 

4. Is there an automated decision making process including profiling?

 

Some of our decisions are based on automated processing of personal data. There are business areas in which personal data is partly processed automatically.

 

This is done with the aim of assessing certain personal aspects where we are required by law or regulation (e.g. prevention of money laundering), to analyse requirements for services and products, and as part of risk management.

 

A suitable investment strategy is determined on the basis of your investment objectives (includ-ing your willingness to take risks, your risk-bearing capacity and your knowledge and experience of securities). This determination is based exclusively on automated decision-making. We partially process your data automatically with the aim of evaluating certain personal aspects (profiling). For example, we use profiling to provide you with targeted information and advice on products. The evaluation tools used for this purpose enable us to communicate and advertise according to your need.

 

 

5. What data protection rights do you have?

 

With regard to the personal data concerning you, you have the following data protection rights in accordance with the GDPR (Art. 7, Art. 15 to 21):

  • Right of access: You may request information from Abacus Value Capital Fund AGmvK as to whether and to what extent personal data relating to you will be processed (e.g. categories of personal data processed, purpose of processing, etc.).
  • Right to rectification, erasure and limitation of processing: You have the right to request rectification of any inaccurate or incomplete personal data concerning you. In addition, your personal data must be deleted if they are no longer necessary for the purposes for which they were collected or processed, if you have withdrawn your consent or if they are processed unlawfully. In addition, you have the right to request that the processing be restricted.
  • Right of withdrawal: You have the right to revoke your consent to the processing of your personal data for one or more specific purposes at any time if the processing is based on your express consent. This also applies to the revocation of declarations of consent issued before the GDPR came into force, i.e. before 25 May 2018. Please note that the revocation will only take effect in the future. Processing that took place before the revocation is not affected by this. The revocation also has no influence on data processing on another legal basis.
  • Right to data transfer: You have the right to receive the personal data concerning you that you have provided to the responsible person in a structured, common and machine-readable format and to have this data transferred to another responsible person.
  • Right of objection: You have the right to object informally to data processing in individual cases for reasons arising from your particular situation, provided that such processing is in the public interest or is carried out to safeguard the legitimate interests of Abacus Value Capital Fund AGmvK or a third party. In addition, you have the right to object informally to the use of personal data for advertising purposes. If you object to the processing of your personal data for direct marketing purposes, we will no longer process your personal data for this purpose.
  • Right of complaint: You have the right to file a complaint with the competent Liechtenstein supervisory authority. You can also apply to another supervisory authority of an EU or EEA member state, for example, at your place of residence or work or at the place of the suspected infringement.

 

The contact details of the data protection office responsible in Liechtenstein are as follows:

 

Data Protection Office Liechtenstein, Städtle 38, Postfach, FL-9490 Vaduz, Principality of Liechtenstein

Phone: +423 236 60 90, Email: info.dss@llv.li

 

Requests for information or objections should preferably be made in writing to the data protec-tion officer. He is also available to you as your contact for all other data protection matters.

 

Vaduz, on May 2018

 

Cookie policy

 

What are cookies?

Cookies are small files that are automatically created by your browser and stored on your terminal (laptop, tablet, smart phone etc.) when you visit our website.

 

What do we use cookies for?

We use cookies to make our website more user-friendly. Cookies allow us to recognize your terminal the next time you visit our website and thereby enhance our website and optimize it to your needs. These are cookies required by websites operating on WordPress.com in order to allow them to function. This also includes cookies that enable registered users to authenticate themselves and to carry out user account-specific functions.

 

Deleting cookies

You can configure your browser to inform you when cookies are used so that you can decide on a case-by-case basis whether to accept or reject a cookie. Alternatively, your browser can be configured to automatically accept cookies under certain conditions or to always reject them, or to automatically delete cookies when closing your browser. Disabling cookies may limit the functions of this website.

 

The legal basis for data processed by cookies is Article 6(1)(f) GDPR.

 

Third-party cookies

A cookie may be placed on your computer by third parties if you follow a link that causes you to leave our web server. We work with the following service providers that may use their own cookies or third-party cookies:

 

Google Analytics

Our website uses Google Analytics, a web analysis tool from Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, USA, that evaluates the use of our website. Google Analytics utilizes cookies (see item 2), which are stored on your computer. Google may process and evaluate the information contained in these cookies regarding the visitor’s use of the website and the Internet. Google may transmit data collected by Google to countries outside the EU or the EEA, in particular the USA. However, Google complies with the Privacy Shield framework. For more detailed information regarding your rights, please click on this link. In addition, we ensure that your IP address is anonymized prior to transmission to Google.

 

You may prevent the use of your data by Google Analytics by using the browser add-on that disables Google Analytics.

 

Google Maps

We use the Google Maps service, which is operated by Google LLC, 1600 Amphitheatre Parkway, Mountain View, CA 94043, USA. Processed data may include, in particular, users’ IP addresses and location information. This data, however, will not be collected without the user’s consent (the consent process is generally part of your settings on your mobile devices). The data may be processed in the USA.

Google Maps Privacy Policy

Opt-out of Google-Maps

 

Abacus Value Capital Fund

The Abacus Value Capital Fund is an alternative investment fund aimed at investing in a small number of exceptionally attractive companies or opportunities according to the principles of value investing.

Investment universe & investment restrictions

  • Clear focus on stocks.
  • Exclusively publicly traded companies.

  • No country restrictions.

  • No limitation on sectors.

  • No restrictions regarding market capitalization of companies.

  • Generally, no foreign currency hedging.

  • Short selling is excluded.

  • No portfolio hedging.

Investment philosophy

focused

We pursue heavy weighting of our best investment ideas. The five largest holdings, in general, account for more than 50% of the fund assets.  

 

selective

Our approach puts exceptionally high requirements on company quality, management, and valuation. This selectivity enables us to achieve outstanding investment results.

enterpreneurial

We think and act like owners and have the same expectations for  managers of companies. 

 

 

long-term

Our philosophy is geared toward a long-term investment horizon. We do not consider it unusual to hold an interest in a company for 5 years or longer. As a result, short-term volatility is of lesser concern to us.

Fund facts

Key information:

  • Open-end fund, not segmented, accumulating, reference currency: EUR.

  • Monthly net asset value (NAV) computation and publication.

  • Portfolio management: Früh & Partner Vermögensverwaltung AG.

  • Custodian: Liechtensteinische Landesbank AG (main shareholder: State of Liechtenstein).

  • Fund administration/AIFM: CAIAC Fund Management AG.

  • Fund supervisory authority: Financial Market Authority Liechtenstein (FMA).

  • Auditing company: PricewaterhouseCoopers AG.

  • Inception date: 01/18/2017.

  • Securities identification number: A2ALCY / ISIN: LI0351696211.

Conditions for subscriptions and redemptions:

  • Minimum investment with initial subscription EUR 100,000.               

  • Subsequent subscriptions starting at EUR 25,000.

  • Subscriptions are possible monthly on the respective valuation date.

  • No front-end load.

  • One-time subscription fee of 0.2%,
    goes to the authority maintaining the share register (CAIAC). 

  • Redemptions are possible quarterly as of the valuation date by giving 30 days' notice.

  • The redemption fee is 5% for an investment duration of <1 year, 2.5% for <2 years, and is eliminated after 2 years.

  • The redemption fee is credited to the remaining fund investors (the fund assets).

Portfolio management compensation model:

  • No fixed fee for managing the portfolio.

  • Solely performance-based compensation, which is paid exclusively from generated profits.

  • Up to an annual return of 5%, 100% of the generated annual profits belongs to the investors of the fund (hurdle rate).

  • At an annual return above 5%, 80% of the returns belongs to the investors, and 20% is compensation for managing the portfolio (performance fee).

  • The performance-based compensation only takes effect if prior year-end peaks are exceeded (high-water mark).

  • In addition to portfolio management fees, the fund incurs other ongoing expenses (such as for the custodian and administration). For details please refer to the prospectus.

Fund manager

Ivo Raissakis - Analyst Früh & Partner, Liechtenstein

Ivo Raissakis

Chief Investment Officer and Partner 

Früh & Partner Asset Management Ltd

Meticulous research, an affinity for analytics, and the appropriate appreciation for entrepreneurial performance define our day-to-day work. The focused investment approach with its long-term view, combined with a healthy dose of emotional stability, give us the time and composure we need to reach decisions that make the crucial difference in the long run.“

Ivo Raissakis

Contact

Abacus
Value Capital Fund AGmvK

P.O. box 765
Schaanerstrasse 29
9490 Vaduz
Liechtenstein

T +423 377 99 77
F +423 377 99 78

info@abacus.li

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