LANCELOT CAMELOT
KEY INVESTOR INFORMATION DOCUMENT
This document provides you with key investor information about this fund. It is not marketing material. The information is required
by law to help you understand the nature and the risks of investing in this fund. You are advised to read it so you can make an
informed decision about whether to invest.
Lancelot Camelot
ISIN-code: SE0001097072
Lancelot Asset Management AB
Reg. no. 556562-9705
Objective and Investment Policy
Lancelot Camelot is a non-UCITS fund targeting equities and equity-related instruments. The Fund mainly invests in equities in large
international corporations with good liquidity in Europe and USA. That the Fund is a non-UCITS fund means, among other things,
that the holdings may be concentrated on a smaller number of investments and the fund may sell securities that are not part of the
Fund’s assets (short-selling).
The objective of the Fund is to generate reward which in the long term significantly exceeds the general development of the stock
market. Benchmark index is MCSI World NDTR Index (Bloomberg: NDDUWI), converted to SEK.
The investment strategy is based on active management, which means that the Fund will have a concentrated portfolio, normally
containing about 15 positions. The Fund may vary the equity exposure between 60 and 120 per cent of the Fund´s value, which
creates possibilities to parry declines on the equity market and to obtain leverage in connection with a rising market. The Fund’s
assets may be invested in transferable securities, money market instruments, derivative instruments, fund units and deposits with
credit institutes. When equity exposure falls below 100 per cent of the Fund value the excess of liquidity is normally invested in
overnight loans, deposited with credit institutes and money market instruments. The Fund may also employ short-selling strategies
(maximum 20 per cent) and use derivative instruments.
The investment process is mainly top down oriented and based on fundamental macro and equity analysis. The macro analysis and
the assessment of the general market expectations determine the proportion of equities held in the Fund and the desired currency
exposure. The security selection process starts by identifying a number of structural growth trends. Thereafter, traditional
corporate analysis follows in order to select companies with exposure to the identified trends and our investment criteria.
Investors may subscribe or redeem units at the end of each calendar month. The Fund does not pay any dividend.
Recommendation: This Fund may be suitable for investors with an investment horizon longer than three years.
Risk and Reward Profile
1
2
3
4
5
6
Lower risk
7
Higher risk
Typically higher rewards
Typically lower rewards
The risk and reward indicator shows the relationship between risk and possible reward with an investment in the Fund. The
indicator is based on how the Fund’s value has changed in the past five years. This Fund belongs to category 5, which means a
medium/high risk of both rises and falls in the unit value. Category 1 does not mean that the Fund is risk-free. The Fund may over
time move both to the left and right of the scale. This is because the indicator is based on historical data that is not a guarantee of
future risk and reward.
The Fund invests in a limited amount of shares and its trading may vary. The Fund is therefore exposed to the general development
on the equity market but also of the development of the price of individual shares that are part of the Fund. Additionally, investing
in the Fund is also associated with currency exposure, since the Fund mainly invests in other currencies than SEK and the Fund’s
currency exposure is actively managed. The indicator reflects the most important risks in the Fund, but not the risk of, in extreme
conditions in the markets, being unable to deposit and withdraw money from the Fund within the specified time (liquidity risk).
BOX 16172, SE-103 23 STOCKHOLM
TEL +46 8 440 53 80
NYBROKAJEN 7
FAX +46 8 440 53 85
www.lancelot.se
LANCELOT CAMELOT
Charges
One-off charges taken before or after you invest
Entry charge
None
Exit charge
None
The above is the maximum that can be taken
out of your money before the proceeds are paid
Charges taken from the Fund over a year
Ongoing charges
1,00%
Charges taken during special circumstances
Performance fee*
0,61%
The charges represent payment for the Fund’s
expenses, including marketing and distribution. These
reduce the Fund’s potential return.
Ongoing charges represents the calendar year 2015.
The charges are charged monthly.
* Calculation: 20% of the Fund´s return exceeding benchmark index, MSCI World NDTR, converted to SEK, calculated individually
for each investor and payable monthly in arrear, see prospectus for details and a calculation example. High Watermark applies to
the Fund.
Past Performance
The Fund started on the 28th of May 2003.
Camelot
Jämförelseindex
60
50,4
Avkastning i %
40
29,2
22,525,2
20,0
20
12,0
3,8 1,8
10,3 9,0
32,7
27,4
14,3
7,5
9,5
2,1
The Fund’s performance (return) is calculated
after deducting charges and dividends. The value
for all years is calculated in Swedish kronor (SEK).
0
-2,2
-20
-2,3
-13,8
-40
2006
2007
-34,2
2008 2009
2010
2011
2012
Benchmark-index for the Fund until April 2011
consisted of 50 % MSCI World converted to SEK
and 50 % OMXS30. From May 2011 the
benchmark-index for the Fund is MSCI World
converted to SEK, with the net return reinvested.
2013
2014
2015
Past performance is no guarantee of future
results.
Practical Information
Additional information about the Fund can be found in the prospectus and the annual/half-yearly report. These are provided free
of charge on the fund management company’s website.
Website: www.lancelot.se
Custodian: Skandinaviska Enskilda Banken AB (publ)
Auditor: KPMG AB, main responsible auditor is Hans Åkervall
Net Asset Value: Net Asset Value is calculated monthly and published on Lancelot´s website.
Tax: The tax legislation applicable to the fund may have an impact on your personal tax.
Minimal investment: Initial investment, minimum 500 000 SEK, thereafter multiples of 100 000 SEK per investment.
Authorization: Lancelot Asset Management AB and Lancelot Camelot are authorized in Sweden and regulated by the Swedish
Financial Supervisory Authority (SW: Finansinspektionen).
Lancelot Asset Management AB may be held liable solely on the basis of any statement contained in this document that is
misleading, inaccurate or inconsistent with the relevant parts of the prospectus for the Fund.
th
Publication: This key investor information document is accurate as of February 17 2016.
BOX 16172, SE-103 23 STOCKHOLM
TEL +46 8 440 53 80
NYBROKAJEN 7
FAX +46 8 440 53 85
www.lancelot.se