Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...
Azuma LP Statistical Arbitrage Fund Performance and Strategy
1. Azuma, L.P. General Partner: Xelor Capital Management
Investment Manager: BEDrock Capital Management
FUND OBJECTIVE MONTHLY PERFORMANCE
Azuma, LP trades a Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
proprietary statistical
arbitrage strategy that 2007 5.76% 0.61% 3.18% 0.06% 1.05% -2.85% 2.09% -4.79% 3.29% 0.97% 13.17% -0.86% 22.66%
seeks to profit by
correctly predicting short- 2008 5.65% -10.66% -2.86% -4.44% -0.43% 13.31% 3.98% -2.12% 5.06% -5.65% 7.40% 8.23% 15.92%
term market movements
of the Asian stock markets 2009 5.50% 11.21% 10.19% 2.31% 5.34% -2.42% -5.65% -2.64% -7.59% 1.80% 6.29% -3.91% 20.00%
based on historical
patterns between the US 2010 -3.83% -4.90% -3.78% 0.08% 18.86% -8.19% -5.64% 1.56% 6.83% 5.16% 0.69% -1.63% 2.49%
and Asian markets. The
objective of Azuma, LP is 2011 -1.45% -5.09% -4.63% -3.30% -1.02% 4.49% -1.43% 8.22% -4.36% 0.95% 1.00% 7.27% -0.45%
to significantly
GROWTH OF $1M VS. BENCHMARKS
outperform the US and
Asian equity markets with $2,500,000
less volatility and virtually $2,000,000
zero correlation to
$1,500,000
traditional asset classes.
$1,000,000
$500,000
$0
Mar‐07
Jun‐07
Sep‐07
Mar‐08
Jun‐08
Sep‐08
Mar‐09
Jun‐09
Sep‐09
Mar‐10
Jun‐10
Sep‐10
Mar‐11
Jun‐11
Sep‐11
Dec‐06
Dec‐07
Dec‐08
Dec‐09
Dec‐10
Dec‐11
FUND PROFILE
M
M
M
M
M
D
D
D
D
D
D
S
S
S
S
S
J
J
J
J
J
Strategy Azuma, LP Nikkei 225 S&P 500 Dow Jones
Statistical Arbitrage
Fund Assets PERFORMANCE ATTRIBUTION RETURN ANALYSIS
$1,900,000 Compounded Annual Return 12.1%
20.00%
Management Fee Average Monthly Return 1.1%
1% Standard Deviation 5.8%
15.00%
Incentive Fee Sharpe Ratio 0.41
20% 10.00% Sortino Ratio 1.05
Minimum Investment Sterling Ratio 0.28
$100,000 5.00% Calmar Ratio 0.28
Subscriptions Highest Monthly Return 18.9%
Monthly 0.00%
Lowest Monthly Return -10.7%
Redemption Worst Drawdown -24.2%
‐5.00%
Monthly (5 days notice) Profitable Percentage 55.0%
Lockup ‐10.00% CONTACT INFORMATION
None David A. Kite, Portfolio Manager
Legal dkite@kkcapital.com
Winston & Strawn, LLP ‐15.00%
Dana Coppe, Investor Relations
Jan‐07
May‐07
Jan‐08
May‐08
Jan‐09
May‐09
Jan‐10
May‐10
Jan‐11
May‐11
Sep‐07
Sep‐08
Sep‐09
Sep‐10
Sep‐11
Auditor dana@kkcapital.com
Deloitte Tax, LLP 3545 Lake Ave Suite 201
Administrator Wilmette, IL 60091
Conifer Fund Services 847.920.9410
This introductory material is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any security or alternative investment product or service, including any fund of funds
managed by Xelor Capital Management (Xelor). Offers to sell or the solicitation of offers to purchase fund investments or anyy
g y p g ( ) p other securities from Xelor only y be made in connection with the delivery of current confidential private
will y p
placement memoranda, information statements or disclosure documents (collectively “Disclosure Documents”) obtained directly from Xelor, and as required by applicable law. The information contained herein does not set forth all of the
risks associated with alternative investment products, and is qualified in its entirety by, and is subject to, the information contained in the relevant Disclosure Documents.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.