# Fund Risks
The value of your investment and the income from it may rise as well as fall and you may not get back the amount originally invested. Prior to
investing in the Fund investors should carefully consider the risks associated with investing, whether the Fund suits their investment requirements and whether they have sufficient resources to bear any losses which may result from an investment in the Fund. Investors
should only invest if they understand the terms on which the Fund is offered. Investors should consider the risks detailed in the risk glossary and where appropriate seek professional advice before
investing.
Monthly return
1
: 4.02%	YTD return
1 
: 31.67%
Performance Chart (Since Inception)
1
Past Performance is not indicative of future performance. Returns may
increase or decrease as a result of currency fluctuations.
Index Value (Rebased to 100)
400
350
300
250
200
150
100
50
Feb 10 Jul 11 Dec 12 May 14 Oct 15 Mar 17 Aug 18 Jan 20 Jun 21 Nov 22 Fund	BM1*	BM2**
Name
Benchmark 1*	
TOPIX (JPY, GDTR)
Benchmark 2**	
Russell/Nomura Large Cap Value (JPY, GDTR)
Awards and Ratings 
3
Fund Details (Key Facts)
2
Inception Date	28 January 2010
Fund Size	JPY 338,013,097,804
Structure	UCITS
Domicile	Ireland
Investment Manager	GLG Partners LP
SFDR Classification	Article 8
| Portfolio Manager | Jeffrey Atherton |
| --- | --- |
|  | Adrian Edwards |
|  | Emily Badger |
|  | Stephen Harget  |

Summary Risk Indicator (SRI)
Lower Risk	Higher Risk
Typically Lower Rewards	Typically Higher Rewards
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

See Glossary for an explanation of the calculation. Please refer to the KID/KIID for the relevant Risk Indicator in your jurisdiction.
Cumulative Performance
1
|  | 1 Month | 3 Months | 6 Months | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fund | 4.02% | 3.28% | 16.38% | 31.67% | 27.80% | 106.40% | 61.63% | 124.68% | 220.21% |
| Benchmark 1* | 5.42% | 2.79% | 12.68% | 28.55% | 22.68% | 45.57% | 61.02% | 136.53% | 260.60% |
| Benchmark 2** | 3.85% | 3.69% | 20.35% | 36.88% | 32.86% | 90.00% | 77.31% | 145.55% | 250.75% |

Discrete Performance
1	
Performance Statistics Since Inception
1
| Year | Nov 2022 - Nov 2023 | Nov 2021 - Nov 2022 | Nov 2020 - Nov 2021 | Nov 2019 - Nov 2020 | Nov 2018 - Nov 2019 |
| --- | --- | --- | --- | --- | --- |
| Fund | 27.80% | 26.82% | 27.34% | -19.42% | -2.82% |
| Benchmark 1* | 22.68% | 5.74% | 12.22% | 5.81% | 4.54% |
| Benchmark 2** | 32.86% | 18.76% | 20.42% | -8.09% | 1.54% |

| Annualised Return | Annualised Volatility | Sharpe Ratio4 | Correlation | Beta | Information Ratio | Tracking Error |
| --- | --- | --- | --- | --- | --- | --- |
| 8.78% | 20.36% | 0.43 | n/a | n/a | n/a | n/a |
| 9.71% | 16.04% | 0.60 | 0.91 | 1.16 | -0.11 | 8.80% |
| 9.49% | 18.13% | 0.52 | 0.97 | 1.09 | -0.14 | 5.26% |

Historical Performance
1
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Fund YTD | BM1 YTD | BM2 YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2013 | 11.76% | 3.48% | 7.05% | 10.99% | 0.41% | 2.13% | -0.71% | -1.98% | 7.09% | -1.36% | 7.72% | 4.72% | 63.43% | 54.41% | 54.53% |
| 2014 | -5.81% | 0.70% | -0.97% | -3.27% | 3.02% | 4.93% | 0.63% | -1.06% | 4.02% | -0.49% | 6.71% | -1.06% | 6.86% | 10.27% | 6.95% |
| 2015 | -1.75% | 12.06% | 1.71% | 7.25% | 6.08% | -3.84% | 1.45% | -7.01% | -9.87% | 10.45% | -0.04% | -2.60% | 12.02% | 12.06% | 12.59% |
| 2016 | -9.26% | -12.91% | 5.66% | -3.96% | 5.98% | -13.98% | 9.18% | 8.20% | -3.60% | 7.20% | 11.21% | 5.71% | 4.93% | 0.31% | 1.28% |
| 2017 | 0.81% | 1.34% | -2.92% | 0.62% | -1.20% | 4.03% | 0.37% | -1.37% | 4.72% | 4.17% | 1.04% | 3.50% | 15.82% | 22.23% | 17.55% |
| 2018 | 0.87% | -3.84% | -4.25% | 5.96% | -4.76% | -2.12% | 2.78% | -1.08% | 5.91% | -6.94% | -0.74% | -9.66% | -17.57% | -15.97% | -15.20% |
| 2019 | 6.87% | 0.20% | -1.28% | 0.70% | -8.44% | 3.54% | -2.91% | -4.57% | 7.30% | 4.52% | 2.59% | 0.80% | 8.44% | 18.12% | 13.41% |
| 2020 | -3.92% | -11.73% | -15.15% | 4.00% | 4.41% | -3.46% | -9.03% | 11.95% | -4.32% | -2.92% | 12.01% | 4.41% | -16.54% | 7.39% | -5.56% |
| 2021 | 2.67% | 11.52% | 9.07% | -3.39% | 6.20% | -1.51% | -1.62% | 1.28% | 5.40% | -1.69% | -6.38% | 4.32% | 27.24% | 12.74% | 20.23% |
| 2022 | 5.21% | 0.82% | 4.00% | 0.32% | 1.75% | 1.33% | 0.52% | 2.73% | -6.83% | 2.67% | 7.86% | -2.94% | 18.00% | -2.45% | 10.83% |
| 2023 | 5.90% | 3.18% | -2.80% | 3.87% | 2.56% | 8.64% | 3.45% | 0.26% | 4.01% | -4.54% | 4.02% | n/a | 31.67% | 28.55% | 36.88% |

Past Performance is not indicative of future performance. Returns may increase or decrease as a result of currency
fluctuations.

Translation (ENES, 2023-11-30):
# Riesgos del fondo
El valor de su inversión, así como los ingresos resultantes, pueden aumentar o disminuir, y es posible que no recupere la cantidad original invertida. Antes de invertir en el Fondo, los inversores deben analizar detenidamente los riesgos que conlleva la inversión, si el Fondo se adapta a sus requisitos de inversión y si cuentan con los recursos
suficientes para asumir las pérdidas que puedan derivar de la inversión en el Fondo. Los inversores solo deberían invertir si entienden los términos en los cuales se ofrece el Fondo. Los inversores deberían
tener en cuenta el riesgos y, si es necesario, buscar asesoramiento profesional antes de invertir. Antes de invertir, los inversores
deberían leer y analizar los documentos de oferta del Fondo.
Index Value (Rebased to 100)
Jan 10
Sep 10
May 11
Jan 12
Sep 12
May 13
Jan 14
Sep 14
May 15
Jan 16
Sep 16
May 17
Jan 18
Sep 18
May 19
Jan 20
Sep 20
May 21
Jan 22
Sep 22
May 23
| Gestor(es) de la Cartera | Jeffrey Atherton |
| --- | --- |
|  | Adrian Edwards |
|  | Emily Badger |
|  | Stephen Harget |

| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

Rendimiento acumulado
1
|  | 1 mes | 3 meses | 6 meses | YTD | 1 año | 3 años | 5 años | 10 años | Desde la creación |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fondo | 4,08% | 3,47% | 16,81% | 32,58% | 28,76% | 111,08% | 67,80% | 142,16% | 255,01% |
| Punto de referencia 1 | 5,42% | 2,79% | 12,68% | 28,55% | 22,68% | 45,57% | 61,02% | 136,53% | 254,40% |
| Punto de referencia 2 | 3,85% | 3,69% | 20,35% | 36,88% | 32,86% | 90,00% | 77,31% | 145,55% | 246,25% |

Rentabilidad
1	
ESTADÍSTICAS DE RENTABILIDAD (DESDE LA CREACIÓN)
1
| Año | Nov 2022 - Nov 2023 | Nov 2021 - Nov 2022 | Nov 2020 - Nov 2021 | Nov 2019 - Nov 2020 | Nov 2018 - Nov 2019 |
| --- | --- | --- | --- | --- | --- |
| Fondo | 28,76% | 27,77% | 28,30% | -18,81% | -2,08% |
| Punto de referencia 1	 | 22,68% | 5,74% | 12,22% | 5,81% | 4,54% |
| Punto de referencia 2 | 32,86% | 18,76% | 20,42% | -8,09% | 1,54% |

| Rentabilida d anualizada | Volatilidad anualizada | Ratio de Sharpe4 | Correlación | Beta | Relación de información | Error de seguimien to |
| --- | --- | --- | --- | --- | --- | --- |
| 9,58% | 20,31% | 0,47 | n/a | n/a | n/a | n/a |
| 9,57% | 16,00% | 0,60 | 0,91 | 1,15 | 0,00 | 8,77% |
| 9,38% | 18,08% | 0,52 | 0,97 | 1,09 | 0,04 | 5,25% |

Desempeño histórico
1
| Año | Ene | Feb | Mar | Abr | Mayo | Jun | Jul | Ago | Sep | Oct | Nov | Dic | Fondo YTD | BM1 YTD | BM2 YTD |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2013 | 11,80% | 3,55% | 7,11% | 11,04% | 0,47% | 2,20% | -0,65% | -1,92% | 7,16% | -1,29% | 7,79% | 4,78% | 64,57% | 54,41% | 54,53% |
| 2014 | -5,75% | 0,76% | -0,91% | -3,21% | 3,08% | 4,99% | 0,70% | -1,00% | 4,09% | -0,43% | 6,78% | -0,99% | 7,67% | 10,27% | 6,95% |
| 2015 | -1,69% | 12,12% | 1,78% | 7,31% | 6,15% | -3,78% | 1,52% | -6,96% | -9,81% | 10,52% | 0,02% | -2,53% | 12,87% | 12,06% | 12,59% |
| 2016 | -9,21% | -12,85% | 5,73% | -3,89% | 6,05% | -13,93% | 9,25% | 8,27% | -3,53% | 7,26% | 11,28% | 5,77% | 5,72% | 0,31% | 1,28% |
| 2017 | 0,88% | 1,40% | -2,86% | 0,67% | -1,13% | 4,09% | 0,43% | -1,30% | 4,78% | 4,25% | 1,10% | 3,56% | 16,69% | 22,23% | 17,55% |
| 2018 | 0,94% | -3,78% | -4,19% | 6,03% | -4,70% | -2,06% | 2,84% | -1,03% | 5,97% | -6,88% | -0,68% | -9,60% | -16,94% | -15,97% | -15,20% |
| 2019 | 6,93% | 0,26% | -1,22% | 0,76% | -8,37% | 3,60% | -2,85% | -4,51% | 7,36% | 4,59% | 2,66% | 0,86% | 9,25% | 18,12% | 13,41% |
| 2020 | -3,86% | -11,68% | -15,09% | 4,06% | 4,47% | -3,39% | -8,97% | 12,02% | -4,26% | -2,85% | 12,08% | 4,47% | -15,91% | 7,39% | -5,56% |
| 2021 | 2,74% | 11,58% | 9,14% | -3,33% | 6,26% | -1,44% | -1,56% | 1,35% | 5,46% | -1,64% | -6,32% | 4,39% | 28,20% | 12,74% | 20,23% |
| 2022 | 5,27% | 0,88% | 4,06% | 0,38% | 1,82% | 1,40% | 0,58% | 2,80% | -6,77% | 2,73% | 7,93% | -2,88% | 18,88% | -2,45% | 10,83% |
| 2023 | 5,97% | 3,24% | -2,74% | 3,93% | 2,63% | 8,71% | 3,51% | 0,33% | 4,07% | -4,48% | 4,08% | n/a | 32,58% | 28,55% | 36,88% |

El rendimiento histórico no es indicativo de resultados futuros. La rentabilidad puede aumentar o disminuir como resultado de las fluctuaciones de divisas.