&RXQW\RI2UDQJH
)<0LG<HDU%XGJHW5HSRUW
-DQXDU\
6HT
'HVFULSWLRQ
)<
%XGJHW
,QFUHDVH
'HFUHDVH
5HYLVHG
7RWDO
)< %RPE'HWHFWLRQ5RERW8SJUDGH )<
5RRN$UPRUHG9HKLFOH6:$7
5HEXGJHW)<
)< &ULPH/LWH0/3UR
5HEXGJHW
)<
)<
'&6'LJLWDO&DSWXUH6WDWLRQ
5HEXGJHW)<
)< '1$&ULPH/LWH$XWR
5H
EXGJHW)<
)< '1$±([WUDFWLRQ&HQWULIXJH
)< ,QIRUPDWLRQ6\VWHP%DFNXS
6\VWHP
5HEXGJHW)<
)< &-;,QWHUFRP
5HEXGJHW)<
)< 1HWZRUN,QIUDVWUXFWXUH
)<
&ODVV03RUWDEOH(PHUJHQF\
*HQHUDWRU
)< +HOLFRSWHU
)< +HOLFRSWHU&DPHUD6\VWHP
)< /LJKW)RU+HOLFRSWHU
)< 5DGLRV)RU+HOLFRSWHU
1HZ $QRO\WH*HQHUDWRU
7RWDO
5HJLRQDO 1DUFRWLF 6XSSUHVVLRQ 3URJUDP ± 2WKHU
)XQG 'HSDUWPHQW %XGJHW
&RQWURO
,Q5HJLRQDO1DUFRWLFV6XSSUHVVLRQ3URJUDP±2WKHU)XQGL QFUHDVHVHUYLFHVDQG VXSSOLHVE\RIIVHWE\DFRUUHVSRQGLQJGHFUHDVHLQIXQGEDODQFHUHVWULFWHG IRUFRVWVDVVRFLDWHGZLWKWKHLQYHVWLJDWLRQRIFULPLQDODFWLYLW\
&RXQW\([HFXWLYH2IILFH
'HSDUWPHQW
3URSRVLWLRQ
'1$ ,GHQWLILFDWLRQ )XQG
)XQG - 'HSDUWPHQW %XGJHW &RQWURO
-
2Q1RYHPEHUWKH3URS
&RPPLWWHH
³&RPPLWWHH´
DSSUR YHGWKHDOORFDWLRQ
RI'1$,GHQWLILFDWLRQ)XQGUHYHQXHVDQGHVWLPDWHGIXQGLQJWRWDOLQJ7KH &RPPLWWHHYRWHGWRDOORFDWHDVRQHWLPHIXQGLQJUHTXHVWVWRHQKDQFHWKH'1$ SURJUDPVIRUORFDOODZHQIRUFHPHQWHQWLWLHVDQG&RXQW\'HSDUWPHQWV
)XQGVDOORFDWHG IRU RQHWLPHIXQGLQJ UHTXHVWV ZLOOEH XVHG WR SURYLGH GU\LQJ FDELQHWV UHIULJHUDWRUV DQG IUHH]HUV IRU '1$ VWRUDJH DQG IXQGLQJ IRU WKH ,QYHVWLJDWLYH *HQHWLF *HQHDORJ\3URJUDP$OORFDWLRQVE\HQWLW\DUHVXPPDUL]HGLQWKHIROORZLQJWDEOH
$WWDFKPHQW$
3DJHRI
&RXQW\([HFXWLYH2IILFH
'HSDUWPHQW
&RXQW\RI2UDQJH
)<0LG<HDU%XGJHW5HSRUW
-DQXDU\
$JHQF\ 'HWDLOV 5HFRPPHQGHG
2QH7LPH$OORFDWLRQ
$QDKHLP3ROLFH'HSDUWPHQW 'U\LQJ&DELQHW
7HPSHUDWXUH0RQLWRULQJIRU'1$6WRUDJH &RVWD0HVD3ROLFH
'HSDUWPHQW
&RPSRQHQWVIRU'&6IRU'LJLWDO(QKDQFHPHQW
8OWUDYLROHW/LJKW.LWZLWK4XDUW]/HQV
)RXQWDLQ9DOOH\3ROLFH
'HSDUWPHQW
%DUULHU6\VWHPIRU&ULPH6FHQHV
1RPDG6FHQH/LJKWV
+DPPHUKHDG)RUHQVLF/LJKWV
)XOOHUWRQ3ROLFH'HSDUWPHQW
6/51LNRQ&DPHUD
%DUULHU6\VWHPIRU&ULPH6FHQHV
(QKDQFHG'1$7UDLQLQJ
:DONLQ)UHH]HUVIRU'1$6WRUDJH
*DUGHQ*URYH3ROLFH
'HSDUWPHQW )UHH]HUVIRU'1$6WRUDJH ,UYLQH3ROLFH'HSDUWPHQW 5HEXLOGDQG([SDQG:DONLQ)UHH]HUVIRU'1$ 6WRUDJH
/RV$ODPLWRV3ROLFH
'HSDUWPHQW
5HIULJHUDWRUIRU'1$6WRUDJH
7HPSHUDWXUH0RQLWRULQJIRU'1$6WRUDJH
$XWRPDWHG3URSHUW\0DQDJHPHQWDQG7UDFNLQJ
6\VWHP
1HZSRUW%HDFK3ROLFH
'HSDUWPHQW
$FFHVVRULHVIRU)RVWHU)UHHPDQ&ULPH/LWH
$XWR
'1$&RQIHUHQFHV
4XDGUDSRG(OLWH
6DQWD$QD3ROLFH'HSDUWPHQW )RVWHU)UHHPDQ'LVFRYHUDQG5HFRYHU 6\VWHP 6HDO%HDFK3ROLFH'HSDUWPHQW )UHH]HUVIRU'1$6WRUDJH 7XVWLQ3ROLFH'HSDUWPHQW 'U\LQJ&DELQHW
5HSDLU)UHH]HUIRU'1$6WRUDJH 8&,UYLQH3ROLFH'HSDUWPHQW
'U\LQJ&DELQHW
5HIULJHUDWRUDQG)UHH]HUIRU'1$6WRUDJH
'1$(YLGHQFH3URFHVVLQJ:RUNVWDWLRQ
:HVWPLQVWHU3ROLFH
'HSDUWPHQW
'U\LQJ&DELQHW
&ULPH3KRWRJUDSK\.LWZLWKDFFHVVRULHV
0DVWHU,PSUHVVLRQ.LW
([WHUQDO+DUG'ULYHVDQG6'&DUGVIRU6WRUDJH
7UDYHO([SHQVHVWRIROORZXSRQ'1$+LWV
5HSDLU)UHH]HUIRU'1$6WRUDJH
2&'LVWULFW$WWRUQH\
5DSLG'1$.LWV0DLQWHQDQFHDQG+D]DUGRXV
:DVWH'LVSRVDO
,QYHVWLJDWLYH*HQHWLF*HQHDORJ\3URJUDP
3URILFLHQF\7HVWLQJRI)RUHQVLF6FLHQWLVWV
5DSLG'1$2SHUDWRUV
2&6KHULII¶V'HSDUWPHQW
&ULPH/LWH%OXHDQG*UHHQ/DVHU.LW
1LVVLQ0)0DFUR5LQJ)ODVK
5RWROLJKW$(263UR,PDJHPDNHU.LW
%DWWHU\$GDSWHUIRU&ULPH/LWH
7RWDO
$WWDFKPHQW$
3DJH
RI
&RXQW\RI2UDQJH
)<0LG<HDU%XGJHW5HSRUW
-DQXDU\
,QRUGHUWRLPSOHPHQWWKH&RPPLWWHH¶VUHFRPPHQGDWLRQVWKHIROO RZLQJDGMXVWPHQWVDUH
UHTXHVWHG
7KH &RPPLWWHH UHFRPPHQGV D RQHWLPH DOORFDWLRQ RI WR WKH 2& 'LVWULFW $WWRUQH\WRFRYHUFRVWVIRU
5DSLG'1$NLWVDQGPDLQWHQDQFH
IXQGLQJIRU
WKH ,QYHVWLJDWLYH *HQHWLF *HQHDORJ\ 3URJUDP
DQG SURILFLHQF\ WHVWV IRU
)RUHQVLF6FLHQWLVWVDQG5DSLG'1$2SHUDWRUV
,Q '1$ ,GHQWLILFDWLRQ )XQG - LQFUHDVH WUDQVIHUV RXW WR 'LVWULFW $WWRUQH\ ± 3XEOLF $GPLQLVWUDWRU
'$3$
%XGJHW &RQWURO E\ RIIVHW E\ DQ HTXLYDOHQW GHFUHDVHWRIXQGEDODQFHUHVWULFWHGIRURQHWLPHIXQGLQJDOORFD WLRQVDSSURYHGE\WKH &RPPLWWHH
,Q'$3$%XGJHW&RQWUROLQFUHDVHWUDQVIHUVLQIURP'1$,GHQWLILFDWLRQ)XQG- E\RIIVHWE\DQHTXLYDOHQWLQFUHDVHWRVHUYLFHVDQGVXSSOLHV
7KH &RPPLWWHH UHFRPPHQGV D RQHWLPH DOORFDWLRQ RI WR W KH 2& 6KHULII¶V 'HSDUWPHQWWRFRYHUFRVWVIRU
&ULPH/LWH/DVHU.LW
ULQJOLJKWVIRUODWHQW
SURFHVVLQJ
5RWROLJKW LPDJHPDNHU NLW IRU ODWHQW SURFHVVLQJ
DQG
EDWWHU\DGDSWHU
,Q '1$ ,GHQWLILFDWLRQ )XQG - LQFUHDVH WUDQVIHUV RXW WR 6KHULII&RURQHU %XGJHW &RQWUROE\RIIVHWE\DQHTXLYDOHQWGHFUHDVHWRIXQ GEDODQFHUHVWULFWHG IRURQHWLPHIXQGLQJDOORFDWLRQVDSSURYHGE\WKH&RPPLWWHH
,Q6KHULII&RURQHU%XGJHW&RQWUROLQFUHDVHWUDQVIHUVLQI URP'1$,GHQWLILFDWLRQ )XQG-E\RIIVHWE\DQHTXLYDOHQWLQFUHDVHWRVHUYLFHVDQGVXSSOLHV
,Q'1$,GHQWLILFDWLRQ)XQG-LQFUHDVHRWKHUFKDUJHVDSSURSU LDWLRQVE\ WR
ORFDOQRQ&RXQW\DJHQFLHVRIIVHWE\DQHTXLYDOHQWGHFUHDVHWRIXQGEDODQFHUHVWULFWHG WRVXSSRUWORFDOODZHQIRUFHPHQW'1$VWRUDJHDQGSURJUDPV
'LUHFWWKH$XGLWRU&RQWUROOHUWRPDNHSD\PHQW
V
XSWRWKHWRW DODOORFDWLRQDPRXQWRI
LGHQWLILHG LQ WKH WDEOH RQ WKH SULRU SDJH IURP )XQG - WR WKH ORFDO QRQ &RXQW\DJHQFLHVXSRQUHFHLSWRID3D\PHQW5HTXHVW)RUPIURPWKH&RXQW\%XGJHW )LQDQFH2IILFH/RFDODJHQFLHVZLOOEHUHTXLUHGWRSURYLGHVXSSRUWLQJGRFXPHQWDWLRQ WR UHTXHVW UHLPEXUVHPHQW LQFOXGLQJ SURRI RI SXUFKDVH DQG FRSLHV RI YHQGRU LQYRLFHVWRHQVXUHWKHPRQLHVDUHVSHQWFRQVLVWHQWZLWK3URS JXLGHOLQHV
$WWDFKPHQW$
3DJHRI