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NEXT 11 EMERGING MARKETS FUND NE
INTERMEDIARY ENTRY CLASS SHARES
JUNE 2012 FACTSHEET
Fund Overview Fund Performance* Fund Risk Statistics*
Fund Objective Month to Date: 4.76% Standard Deviation: 21.91%
The primary investment Year to Date: 4.62% Downside Deviation: 19.11%
objective is to provide positive Cumulative Returns: -20.13% Sharpe Ratio: -0.70
returns in a variety of market Annualized Returns: -12.06% Sortino: -1.17
conditions by investing in the
Monthly Average Returns: -1.06% Alpha: -0.51%
Next 11 countries.
Positive Returns: 42.86% Beta: 0.86
Fund Strategy
The Next 11 Emerging Geographic Breakdown*** Top 10 Holdings
Markets Fund can invest America Movil Sab De C-Ser L 4.52%
across equities linked to the Mexico 20.64%
Samsung Electronics Co Ltd 3.61%
economic development of the Philippines 18.53%
Beximco Pharmaceuti-Gdr Regs 2.63%
Next 11 emerging markets. South Korea 18.18%
MSCI Nigeria Daily Net TR USD 2.35%
Indonesia 12.07%
Walmart De Mexico-Ser V 2.14%
Egypt 11.34%
Turkey 10.32%
Fomento Economico Mexica-Ubd 1.68%
Vietnam 3.70% Philippine Long Distance Tel 1.52%
Bangladesh 2.75% SM Investments Corp 1.44%
Nigeria 2.46% Turkiye Garanti Bankasi 1.32%
Pakistan 0.00% Grupo Mexico Sab De Cv-Ser B 1.15%
Fund Information Year to Date Performance
Investment Team:
Investment Manager: 1060 200
Simon Crook
195
1020
Head of Trading: 190
Claudio Oliveira 980
185
Fund Launch Date: 940 180
October 2010
175
900
Minimum Investment: 170
$/€/£10,000 Castlestone Next 11 Emerging Markets****
860
Emerging Market Equity Benchmark 165
Fees: 820 160
Management Fee: 1.75% Jan-2012 Feb-2012 Mar-2012 Apr-2012 May-2012 Jun-2012
Administration Fee: 0.75%
Performance Fee: 15.00% Historical Performance
Dealing Frequency: Class 1mth 3mth 6mth YTD 1yr 3yr 5yr
Weekly** C - $USD 4.76% -5.72% 4.62% 4.62% -17.35% N/A N/A
CC - €EUR 4.76% -5.72% 4.61% 4.61% -17.34% N/A N/A
Domicile: CCC - £GBP 4.76% -5.72% 4.62% 4.62% -17.34% N/A N/A
British Virgin Islands
Share Class Information
Class NAV Bloomberg ISIN Start Date
C - $USD $918.20 NEXEMKC VI VGG6501D1621 22/10/10
CC - €EUR € 920.12 NEXECCE VI VGG6501D1704 17/12/10
CCC - £GBP £909.03 NEXECCC VI VGG6501D1886 10/12/10
Cumulative Returns*
160%
140%
120%
100%
80%
60%
40%
20%
0%
Oct-2010 Dec-2010 Feb-2011 Apr-2011 Jun-2011 Aug-2011 Oct-2011 Dec-2011 Feb-2012 Apr-2012 Jun-2012
IMPORTANT INFORMATION
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NEXT 11 EMERGING MARKETS FUND
INTERMEDIARY ENTRY CLASS SHARES
JUNE 2012 FACTSHEET
Glossary Managers Commentary
Sharpe Ratio
Measures how much fund The Next 11 Emerging Markets Fund INC. gained nearly 5% in June. We saw some strong performances from Global
performance is attributed to Markets and positive data flowing from a number of the N11 Countries.
risk. The Sharpe Ratio is
calculated as the average Mexico economists raised their estimate for economic growth this year for the fifth consecutive month, according to a
excess rate of return over the central bank survey. The country’s economy may expand as much as 4.25 percent this year, compared with 3.9 percent
risk-free rate divided by the in 2011, the central bank said. The national statistics agency also reported that the country’s industrial output increased
Standard Deviation of the 3.6 percent in April from a year earlier.
excess returns. A Sharpe
Ratio above 1 is good. Nigeria's foreign exchange reserves rose to a 21-month high of $37.64 billion by May 28 and were up 3 percent from a
month earlier, the latest figures from the central bank showed. Turkey’s current-account gap retreated for a sixth month
Sortino Ratio to $5 billion in April from $7.7 billion a year earlier, the central bank in Ankara said on its website.
The Sortino Ratio is similar to
the Sharpe Ratio except it only Bangladesh said it anticipates 7.2 percent economic growth in the coming fiscal year from increased export earnings and
focuses on risk surrounding more remittances from Bangladeshis abroad. Vietnam wants to “draw more foreign investment to the banking sector,
fund performance when it falls especially during the bank restructuring process”, State Bank of Vietnam Governor Nguyen Van Binh told reporters at
below a specified target or the National Assembly in Hanoi.
rate of return.
Indonesia's broad money supply (M2) in April rose 20.2 percent from a year ago, compared to 18.8 percent growth a
Standard Deviation month earlier, the central bank said.
A measure of volatility, often
described as risk. The There is a strong possibility that governments will take to extra economic stimulus measures, such as monetary easing
Standard Deviation measures in the future, going forward and we have already seen how speculation of these measures can be positive for markets.
the amount performance This combined with the positive news coming from N11 countries mean we remain very positive for our fund going
varies from its average. The forward.
larger the number, the more
fund performance differs from
its average, so the more
volatility there is.
Disclaimer: This document is intended for and directed at investment professionals and is not intended for retail customer use. Persons
who do not have professional experience in matters relating to investments should not rely on it.
Source: Figures in commentary from Bloomberg .
* Performance Statistics represent Next 11 Emerging Markets Fund Class C.
** Subscriptions must be received by 12.00 noon GMT each Wednesday or the previous Business Day, in the case of a public holiday in the UK, the
U.S. or the Netherlands.
*** The allocations are based on weightings at 30th June 2012, the weightings are gross risk allocation by asset. The allocations are indicative and for
illustrative purposes only.
**** Year to Date Performance represents Next 11 Emerging Markets Fund Class AAA.
The data denotes the actual performance net of management fees, performance fees and expenses of Next 11 Emerging Markets Fund share class C
since October 22, 2010, share class CC since December 17, 2010 and share class CCC since December 10, 2010. The actual performance of the
MSCI Emerging Markets Free Index is shown since December 31, 2005.
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