Richfox Capital Executive Summary

EXECUTIVE SUMMARY

SMARTER INVESTMENTS

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In the past three years, our flagship strategy has delivered five times the returns of its benchmark. We can proudly claim that such a performance can compete with the world‘s most esteemed funds. While I am sure most of you would love to know how, all that really matters is driven by why.

In Richfox, we are united in a belief there is more to finance than quick profits. There are important truths about us and even beauty to be found in the fascinating complexity of markets, this marvelous mirror of the world’s stage and myriads of human interactions, which has so far defied any attempts to reliably depict its inner mechanics. It is in our nature, our very hearts, to conquer the unknown, to explore, to seek knowledge, understanding and discover order and harmony in this seemingly chaotic universe. This ultimate purpose, this need to know, fuels our passion that presents the true secret of our performance. In a nutshell, “Rich” in Richfox was never meant to be solely about material wealth.

That is also why I committed myself in 2015 to dedicate most of the profits I shall receive as the majority shareholder to set up the Richfox Foundation to support exceptional scientific talents in the region on their paths to move humankind forward. I very deeply care about this project and with your help, we will succeed.

We believe in finance that is intelligent and ethical as much as caring and responsible. As foxes, we outsmart any bull or bear and we don’t dance with wolves. If you belong to our species, welcome to the family.

FOXES & FINANCEF A S C I N A T I N G F A I R Y - T A L E

January 2017

Jiri Vojkovsky, CEO

FIRM - HIGHLIGHTS

FUNDS - HIGHLIGHTS

OUR STORY

KEY PEOPLE

KEY TERMS

CONTACT

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FIRMH I G H L I G H T S

1/2014 CZECH NATIONAL BANK REGISTRATION AS AN ASSET MANAGER

FIRST TRULY QUANTITATIVE INVESTMENT MANAGER IN THE CEE REGION

PREMIUM SERVICE FOR HIGH-NET-WORTH PRIVATE & INSTITUTIONAL INVESTORS

STRONG PEDIGREE OF SUCCESS & PERFORMANCE

1/2013 OPERATIONS ESTABLISHED

OUTSTANDING INTERNATIONAL TEAM TEAM

17.34% p.a. FLAGSHIP STRATEGY “VALUE”, May 2014 - Jan 2017

80+YEARS OF COMBINED EXPERIENCE

ESSENTIALSHIGH ETHICS, DECENCY & DUE CARE IN HEARTS

STRONG SOCIAL RESPONSIBILITY BIAS VIA THE RICHFOX FOUNDATION

ALL KEY PEOPLE ALSO SHAREHOLDERS

PERSONAL APPROACH TO EVERY INVESTOR

ABSOLUTE INDEPENDENCE, 100% OWNED BY PRINCIPALS

KEY SHAREHOLDERS ALSO INVESTED IN OUR FUNDS

PRINCIPLES

STABLE RETURNS WITH LOW VOLATILITY IN ANY MARKET ENVIRONMENT

MANAGING RISK & CAPITAL PROTECTION COME FIRST

BUILT ON RIGOROUS PROPRIETARY RESEARCH

HIGH LIQUIDITY FOR QUICK ADAPTABILITY

BEHAVIORAL & QUANTITATIVE FINANCE

STANDARD INSTRUMENTS & LOW LEVERAGE

60% OF THE MARKET VOLATILITY

PHILOSOPHY 4

LOW VOLATILITY

PERFORMANCE

9/2017 DUTCH AFM REGISTRATION AS FUND

FUNDSH I G H L I G H T S

10/2017 AFM REGISTRATION AS LIGHT REGIME AIF

INSTITUTIONAL GRADE VEHICLE WITH A WELL-KNOWN STRUCTURE

10/2017 OPERATIONS ESTABLISHED

EU BASED, RESPECTED DUTCH LEGAL FRAMEWORK

ESSENTIALS

UNRESTRICTED LIQUIDITY WITH NO LOCK-UPS

MINIMUM INVESTMENT OF 40K EUR OR EQUIVALENT

LOW FEES VS. THE INDUSTRY STANDARD

PARTNERING WITH ESTABLISHED SERVICE PROVIDERS ONLY

FAVOURABLE COSTS & TAXATION

LOW FEES

KEY TERMS

0% TAXES on fund level and for non-residents of the Netherlands

0.8% MANAGEMENT FEEVS. THE 2% STANDARD

15% PERFORMANCE FEEVS. THE 20% STANDARD

SOPHISTICATED, QUANTITATIVE & SYSTEMATIC INVESTMENT STRATEGIES

LONG/SHORT EXPOSURE, LOW BETA VS. THE EQUITY MARKET

UNCORRELATED STRATEGIES FOR BETTER DIVERSIFICATION

GLOBAL ALLOCATION ACROSS ASSET CLASSES

TARGETING ALPHA WITHOUT COMPROMISING THE RISK PROFILE

ALPHA10-15% AVERAGE GROSS RETURN

INVESTMENTS

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TAXATION

BEATING THE ODDSL O V I N G T H E J O U R N E Y

In early 2013, we started building Richfox with a strong vision, a passion for finance and with very little AUM comprised mostly of our own savings, as the first pioneers in quantitative investing in the region. There were many voices eagerly forecasting our inevitable demise. You are too small, too young and too fragile, they said.

Only a few understood that we started small not because we necessarily had to, but because we felt it to be intellectually and morally honest to prove the concept on our own savings before risking capital of anyone else, and because we treasured our independence that enabled us to pursue benefit of all our investors alike. We smiled and kept working hard.

And here we are, almost four years later, bigger and stronger than ever. Along the road, we delivered performance comparable to the world’s best, built strong partnerships and established a great family of happy investors. We still very much love our journey and we take great pride in uniting exceptional minds under the common banner of building the better world of finance.

From time to time, we still hear those voices. You are too alternative, too difficult to understand, too outlandish, doomed to fail in the end, they say. We smile and keep working hard.

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Drago’s path crossed with Richfox in 2015, contributing 20+ year of investment management experience, encompassing several hedge funds, a sovereign wealth fund, a multi-family office and fintech companies to a joint mission to create the first quantitative, CEE domiciled fund challenging the EU alternative funds. Drago is responsible for the strategy and fund governance.

FOCUS Investment Strategy, Corporate Governance, Compliance

BACKGROUND Finance, Engineering, IT & TechnologyEXPERIENCE 20+ years

EXPERTISE Quantitative Research and Modelling, Teaching, Investments

Head of StrategyDRAGO INDJIC

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With well over a decade of investment experience and track record of entrepreneurial success in companies he built himself or developed for others, Richfox is the embodiment of Jiri‘s knowledge of financial markets and his vision of providing exclusive investment services with highly individualized approach for the most demanding clientele, scarce in the CEE region. Setting up the company on the cornerstones of hard work and honesty, Jiri presents a strong leadership for Richfox, stability for its partners and credibility for investors.

CEO, FounderJIRI VOJKOVSKY

FOCUS Business Strategy, Keeping both team and investors happy

BACKGROUND Economics, Finance, IT & Technology, Law

EXPERIENCE 10+ years

EXPERTISE Behavioral Economics, Finance, Investments

KEY PEOPLE

Thanks to his background in psychology and neuroscience, Caslav understands better than most the stresses that any discretionary trader must withstand, thus making him more resilient to such pressures. However, that is also why through his almost 20 years of successful trading, he has employed a thorough, systematic approach to different asset classes with emphasis on neural signal detection and machine learning rather than purely discretionary trading style.

Head TraderCASLAV MILADINOVIC

FOCUS Systematic Trading, Portfolio Management

BACKGROUND Psychology, Neuroscience

EXPERIENCE 20+ years

EXPERTISE Systematic Trading, Investments 8

Having a strong mathematical background and a wide range of experience with quantitative modelling and risk management in the banking and hedge fund industry, Martin is primarily responsible for our risk practices as well as the risk management components of our systematic strategies. Martin also oversees the development and implementation of our market models and other analytic tools.

Head of Risk & Market ModellingMARTIN STEFANIK

FOCUS Risk Management, Mathematical Modeling

BACKGROUND Mathematics, Quantitative Finance

EXPERIENCE 3+ years

EXPERTISE Risk Management, Quantitative Modelling & Development

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Alex is a senior financial professional who used to work as a VP at Deutsche Bank and at senior positions at HSBC and Gottex. He holds PhDs from Mathematics and Finance. Albeit operating in an independent, contractual capacity, we cooperate very closely on general research and specifically on matters related to the Omega strategy, which has become an important part of our Trinity Fund multi-strategy approach.

FOCUS Quantiative Research, Portfolio Management BACKGROUND Mathematics, FinanceEXPERIENCE 20+ years

EXPERTISE Quantitative Research &Modelling, Investments

Quantitative ResearcherALEXANDER PASSOW

KEY TERMSP A R T N E R I N G W I T H T H E B E S T

FEE STRUCTUREEntry Fee: 3% (can be waived)

Management Fee: 0.8% p.a.

SPs Fee: 8 basis points (0.08%) or min. 17.500 EUR p.a.Performance Fee: 15% p.a.Exit Fee: 2% - 0-3 years 1% - 3-5 years 0% - 5+ years

Owner:

Regulatory authority:

Regulatory framework:

Stichting Richfox Capital Trinity Fund (100%)

Dutch Law, DNB, AFM

AIF under “light regime” in accordance with article 2:65 of the Act on financial

supervision (Wet op het financieel toezicht)

40.000 EUR (lower in special cases)

Monthly redemptions on prior notice,

no lock-ups

0% tax the fund level

0% tax for the non-residents of the Netherlands

your local taxation may apply depending on your domicile

Minimum Investment:

Liquidity:

Favourable tax treatment:

For the fund, we have secured partnership with some of the best service providers available in the region. Consider for yourselves:

ManagerRichfox Capital Investment Management

AdministratorCircle Partners

Prime BrokerInteractive Brokers

AuditorDeloitte

multiple minima

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CONTACT

Offices:Richfox Capital, s.r.o.

Stock Exchange PalaceRybná 682/14

110 00Prague - Old Town

Czech Republic

Registered Address:Richfox Capital Investment Management B.V.

TranspolisparkSiriusdreef 17-27

Hoofddorp2132 WT

the Netherlands

+420 224 222 [email protected]ĚSTSKÉ

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