Cerro Torre Sicav

'Cerro Torre SICAV' qualifies as a Maltese AIF


Smerlado Sub-Fund, a sub-fund of Cerro Torre SICAV p.l.c. (the “Company”) is licensed by the Malta Financial Services Authority (“MFSA”) as a Alternative Investment Fund (“AIF”) which is available to Experienced Investors. AIFs are non-retail collective investment schemes, therefore, the protection normally arising as a result of the imposition of the MFSA’s investment and borrowing restrictions and other requirements for retail collective investment schemes do not apply. Investors in AIFs are not protected by any statutory compensation arrangements in the event of the fund’s failure. The MFSA has made no assessment or value judgement on the soundness of the Company and its Sub-Funds or for the accuracy or completeness of the statements made or opinions expressed with regard to them.

Investment Objective

The Investment Objective of the Sub-Fund is to obtain absolute positive returns, while spreading the risk by adequate diversification of the portfolio over the short to medium term (2 to 5 years). 

Investment Policies

The Sub-Fund will generally invest either directly or through regulated collective investment schemes in a wide range of instruments including but not limited to (i) listed equities; (ii) listed bonds; (iii) cash settled single stock or index linked FDIs, mainly options and futures; and (iv) currencies.

It is anticipated that Sub-Fund will not be biased towards any specific country, industry or market capitalization. The selection of the target issuers will be based on a combination of technical and fundamental analysis which also takes into account the macro and micro economic environment. The Sub-Fund may invest in listed Bonds of any credit rating and may also invest in Bonds that do not have a credit rating.

The Investment Manager may vary the composition of the portfolio of the Sub-Fund to take advantage of trends that might occur over time.  The Sub-Fund may also retain amounts in cash or cash equivalents, pending reinvestment, if this is considered appropriate to the objective of maximising absolute returns.  The Sub-Fund will not invest in real estate.   Uninvested cash which has not been placed as margin may, subject to investment restrictions, be held on deposit in a bank account in the name of the Sub-Fund. When appropriate the Sub-Fund may also employ leverage through borrowing.


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Definition of Qualified Investor as per Art. 10 CISA :

Paragraph 3

regulated financial intermediaries such as banks, securities traders, fund management companies and asset managers of collective investment schemes, as well as central banks; regulated insurance institutions; public entities and retirement benefits institutions with professional treasury operations; companies with professional treasury operations; By closing this window you accept the above conditions.

Paragraph 3bis

High-net-worth individuals may declare in writing that they wish to be deemed qualified investors. In addition, the Federal Council may make such persons’ suitability as qualified investors dependent on certain conditions, specifically technical qualifications

Paragraph 3ter

Investors who have concluded a written discretionary management agreement as defined in Article 3 Paragraph 2b and c are deemed qualified investors
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