Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 130

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 130
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 demand for differentiated credit strategies, and as we continue to expand the range of strategies we offer and the variety of investment vehicles in which we offer our strategies, including Luxembourg domiciled UCITs, Ireland domiciled investment trusts, and a closed-end private credit fund in Brazil. Overall, most of our credit strategies are in long-term or evergreen fund structures such as interval funds that offer limited gates of liquidity.

Total AUM for our public equities products was US$1.9 billion and US$3.0 billion, respectively, at December 31, 2024, down 37% from December 31, 2023 due to a combination of net outflows, weak investment returns and negative FX impacts. In general public equities strategies in Latin America have been negatively impacted by lackluster demand due to poor market returns, competition from new products, and in some cases weak demand reflecting high interest rates. Nevertheless, we believe we are well positioned in the event demand for public equities strategies improves given our experienced team and solid long-term track record.

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Credit | Overview as of December 31, 2024

Credit | Performance Highlights as of December 31, 2024

Notes: Regional Corporate Strategies - Source: Moneda Asset Management, JP Morgan, Evestment. Data calculated by Moneda Asset Management as of December 31st, 2024. Benchmarks used: Cembi Broad Div Latam Index (JP Morgan) for LatAm High Yield and GBI Broad Div Latam Index (JP Morgan) for LatAm Local Currency. (1) Data point for the last 10 years of the fund (2) Data point since inception of the fund. Local Corporate Strategies - Source: Moneda Asset Management, Patria, RiskAmerica. Data as of December 31st, 2024. Benchmark used: RiskAmerica Corporativo Global for Chile High Yield. Inception Date of Chile High Yield: December 31st, 2012. Past performance is not a guarantee of future results. (3) Includes two smaller vehicles - Credit D365 and FIAGRO which have a target return of CDI+3.5%.

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Public Equities | Overview as of December 31, 2024

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Public Equities | Performance Highlights as of December 31, 2024

Notes:Data as of December 31st, 202