Aphilion SIF

Fund Investment Objectives

This equity fund maintains both a long and short portfolio, 35-50 stocks at each side, mainly in Europe. Both portfolios are highly inversely correlated, making the fund as market neutral as possible. That this is effectively achieved can be derived from the fund's beta versus the European equity market. The stock selection process is based on an in-house financial-econometric quantitative model which uses fundamental data (earnings, interest rates, etc) to evaluate the return potential of the investment universe on a daily, real-time basis. This quant model has been applied in the long-only global equity fund Aphilion Q (Belgian SICAV) since 2001, with good results.