Smaller Companies Fund | Avaron

Avaron Emerging Europe Smaller Companies Fund

The Fund invests in public small and mid-cap companies in Emerging Europe ex-Russia region. The Fund creates alpha to investors through active Management and stock-picking. As stock exchanges in Emerging Europe are dominated by banking sector companies and state-owned enterprises, the Fund aims to limit investing into these segments, and focus on stock-picking mainly among attractively valued, privately owned, well-managed and fast growing smaller companies. The Fund is benchmark agnostic, portfolio is built fully bottom up, and the Fund has very low position overlap to regional indices. Small and mid-cap companies is a niche mostly overlooked by international emerging market investors.

Performance overview

Unit	NAV	YTD	1D	1M	1Y	3Y	5Y	10Y	CSV
SMC-A	12.8925	10.21%	-0.17%	2.38%	26.99%	0.00%	0.00%	0.00%
SMC-B	12.8950	10.21%	-0.17%	2.38%	27.16%	0.00%	0.00%	0.00%

As of 2024-04-24

The rate of return achieved by the fund in past periods does not guarantee the rate of return of the fund in future periods.

Fund facts

FEES	A Share	B Share
ISIN code	EE3600001772	EE3600001780
Min investment	-	-
Front-end Load	0%	0%
Management fee	0.85%	1.15%
Performance fee	15% over MSCI EFM EUROPE + CIS (E+C) ex Russia Index	-
Back-end Load	0%	0%

Fund Launch Date

December 9, 2022

Fund Type

UCITS

Fund Domicile

Estonia

Share Class Type

Accumulating

Asset Class

Public equities, small and mid-caps, long-only

Investment Region

Emerging Europe ex-Russia

Market Index

MSCI EFM EUROPE + CIS (E+C) ex RU index

Main Countries Invested in

Poland, Hungary, Czech Republic, Romania, Greece, Slovenia, Estonia, Lithuania, Turkey

NAV Frequency

Daily

Base Currency

EUR

Dealing

Shares are issued every business day, redeemed once a month

Fund Management Company

AS Avaron Asset Management, registry code 11341336

Location of the Fund

Narva mnt 7D, 10117 Tallinn, Estonia

Fund Managers

Valdur Jaht, Peter Priisalm, Rain Leesi

Fund Administration, Depositary,
NAV Calculation, Transfer Agent

Swedbank AS, registry code 10060701, registered address: Liivalaia 8, 15040 Tallinn, Estonia. Contact: ta@swedbank.ee; Fax: +372 613 1822

Financial Supervision

Financial Supervision Authority of Estonia, registered address: Sakala 4, 15030 Tallinn, Estonia. Website: www.fi.ee

External Auditor

KPMG Baltics OÜ, registered address: Narva mnt 5, 10117 Tallinn, Estonia, registry code 10096082

Internal Auditor

AS PricewaterhouseCoopers Advisors, registry code 10325507, registered address: Pärnu mnt 15, 10141 Tallinn, Estonia. Website: www.pwc.com

Fund key facts

Region

Emerging Europe ex-Russia

Asset Class

Public equities, small and mid-caps, long-only

Type

UCITS

Domicile

Estonia

Investment style

Active, stock-picking

Launch Date

December 9, 2022

Risk level

Fund documents

Prospectus

KIDs

Scenarios (KID)

Annual report

ISIN codes

A Share

EE3600001772

B Share

EE3600001780

All documents
All fund facts & costs
How to invest?

Investor assistance

Email

invest@avaron.com

Phone

+372 6644 214

Disclaimer

IMPORTANT LEGAL INFORMATION

The following information applies to every page on this web site, whether or not such pages individually contain a disclaimer notification. This material has been drawn up by AS Avaron Asset Management (hereafter: Avaron), a fund management company registered in Estonia which is authorised and supervised by the Estonian Financial Supervision Authority. The contact details of Avaron are as follows: address Narva mnt. 7D, Tallinn 10117, Estonia; phone +372 6644200; e-mail info@avaron.com. Material on the website is the copyright property of Avaron, unless noted otherwise, and all rights are reserved.

This material contains data and facts on investments and funds managed by Avaron, which are provided for information purposes only. No investment advice is offered or given by Avaron to persons using this material. This material is complimentary to and not a substitute for independent professional advice from a person qualified to provide it in your home country. Reliance on this material for the purpose of buying the securities to which this material relates may expose a person to a significant risk of losing all of the money invested. The information herein is, to the best of the knowledge of Avaron, in accordance with the facts. However, Avaron, none of its affiliates, directors or officers accept any liability in respect of the accuracy or completeness of any information herein, or omitted to be included herein, or any information provided, or omitted to be provided, by any third party. All information and expressions of opinion contained in this material are subject to change without notice, unless the law requires otherwise.

This material does not constitute or form part of a distribution or an offer or solicitation to buy or sell any securities (in particular, shares or units in any of Avaron funds) to any person in any jurisdiction in which such distribution, offer or solicitation would be contrary to local law or regulation. In particular, the information herein is not for distribution, and does not constitute an offer to sell or buy, or the solicitation of any offer to sell or buy, any securities in the United States of America or to or for the benefit of United States persons (within the meaning of Regulation S under the Securities Act of 1933). In relation to persons in the United Kingdom, the information herein is directed only at Investment Professionals in the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. This material should not be relied on by persons in the United Kingdom who are not Investment Professionals. Any investment or investment activity to which this material relates is available in the United Kingdom only to Investment Professionals and will be engaged in only with Investment Professionals. In relation to persons in Switzerland, this material is directed only at Swiss Qualified Investors in the meaning of Article 10 (3) of the Collective Investment Schemes Act. Swiss private individuals are not allowed to use this material. The funds managed by Avaron are not authorised for public distribution in Switzerland.

Subscription of Avaron funds should be made on the basis of the funds’ prospectus and key investor information document (KIID), the relevant fund rules or articles of association and the latest available annual or semi-annual reports. These documents can be obtained from Avaron. Past performance is not indicative of future results. The value of investments and any income derived from the funds may fall as well as rise and investors may not get back the amount invested. An investment in the funds entails risks, some of which are described in the prospectuses of the funds. Investors should be aware of the high risks associated with investments in emerging markets such as Central and Eastern Europe. This material may include forward looking statements which are based on Avaron’s current opinions, expectations and projections. We undertake no obligation to update or revise any forward looking statements. Actual results could differ materially from those anticipated in the forward looking statements. Any dispute, controversy or claim arising out of or in connection with the information provided in this material shall be settled in accordance with Estonian law exclusively in Estonian courts. Information provided in this material has originally been prepared in the English language and has been translated into Estonian. In case of any discrepancy between the two versions, the English version shall prevail.

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