Fund Name, L.P.
Month, Year712 Fifth Avenue
New York, NY212-555-5555
Firm Name, LLC
DRAFT - Merlin Securities Capital Development
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 2Fund Name, L.P.
Table of Contents
Executive Summary………………………………………………………………………………………………………………. 3
Performance Snapshot………………………………………………………………................................................... 4
Key Professionals………………………………………………………………………………………………………………….. 5
Market Opportunity………………………………………………………………………………………………………………. 7
Value Proposition...………………………………………………………………………………………………………........... 8
Investment Process…………………………………………………………………….................................................. 9
Transparency……………………………………………………………………………………………………........................ 14
Summary of Terms………………………………………………………………………………………………………………… 15
Appendix……………………………………………………………………………………………………………………………… 16
Investment Examples……………………………………………………………………………………………………….. 17
Historical Performance………………………………………………………………………………………….............. 19
Historical Exposure…..……………………………………………………………………………………….…………….. 20
Team Biographies…………………………………………………………………………………………………………….. 21
Contact Information……………………………………………………………………………………………................ 22
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 3Fund Name, L.P.
Executive Summary
Strategy State the investment strategy (i.e. Equity L/S Technology Focus)
Objective What is the objective of the fund? (i.e. annualized returns of X%, volatility targets)
Edge / Competitive Advantages Fund differentiators (i.e. proprietary models or unique investment edge)
Team Experience Key team member’s applicable background
AUM Firm / Fund
Alignment of Interests Manager’s ownership interest in the fund and/or capital committed
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 4Fund Name, L.P.
Performance Snapshot
Since Inception
Annualized Return
Annualized Volatility
Fund A
S&P 500
HFRI Equity Hedge
Fund A
S&P 500
HFRI EH
-80.00%
-60.00%
-40.00%
-20.00%
0.00%
20.00%
40.00%
Performance Since Inception
EXAMPLE: Performance since inception (i.e. performance vs. appropriate indices, annualized return and volatility)
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 5Fund Name, L.P.
Key Professionals
Professional, Title Current Responsibilities Past Company, Role, Dates Prior work experience, Role, Dates School, Degree, Dates Additional certifications
Professional, Title Current Responsibilities Past Company, Role, Dates Prior work experience, Role, Dates, School, Degree, Dates Additional certifications
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 6Fund Name, L.P.
Corporate Structure
Principal AChief Investment
Officer
#1 Portfolio Manager / Analyst / Trader
COO / CFO Marketing / IR
Operations Associate
Associate
Business Team
Investment Team
#1 Portfolio Manager / Analyst / Trader
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 7Fund Name, L.P.
Market Opportunity Brief discussion that sets a framework which is consistent with the detailed investment
process that follows. May include the following:
Describe the reasons for launching the fund or why now is the appropriate time to invest. What opportunities exist in the market given this strategy? What is unique about the fund’s approach in these markets and how is this applied to the strategy?
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 8Fund Name, L.P.
Value Proposition
Statementof
Value Proposition
Experience
Investment Approach
Trading
Analysis
Edge
Risk Management
This slide should clearly state your unique edge and what differentiates your strategy from your peers.
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 9Fund Name, L.P.
Investment Process
Detailed description of investment process
Key investment drivers
Demonstrate a disciplined and repeatable process
Define investment universe
Describe how ideas are selected from the universe (i.e. screens, contacts, top-down, bottom up, technical's, etc.)
IdeaGeneration
Research Process
Steps to add an investment to the portfolio
Examples: # of positions Sizing positions Price targets Exit and entry points Financial instruments Time horizon
Description of how investments are combined to form the portfolio (i.e. core positions, macro overlay)
Exit and entry points
Hedging
PortfolioConstruction
Risk Management
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 10Fund Name, L.P.
Idea GenerationIdea
GenerationResearch Process
PortfolioConstruction
Risk Management
Describe investment universe
Sources to generate ideas (i.e. screens, sell-side research, industry contacts, corporate events, top-down, bottom-up analysis)
Explain how ideas from various sources are narrowed down
Lead to research process
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 11Fund Name, L.P.
Research Process
Long Positions
Detailed description of the research process Steps required to initiate long positions Demonstrate a disciplined and repeatable process
Short Positions
Detailed description of the research process Steps required to initiate short positions Demonstrate a disciplined and repeatable process
IdeaGeneration
Research Process
PortfolioConstruction
Risk Management
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 12Fund Name, L.P.
Portfolio Construction & Exposures
Historical Range Average Current
Gross Exposure
Net Exposure
Number of Longs
Number of Shorts
Max Long Position (%)
Max Short Position (%)
GEOGRAPHY
Real Estate, 5%
Utilities, 5%
Industrials, 10%
Consumer Staples, 10%
Consumer Discretionary
, 15%
Technology, 20%
Financials, 35%
Micro, 1%Small, 5%
Mid, 30%
Large, 64%
Europe, 15% North
America, 65%
Other, 5%Asia ex-Japan, 5%
Asia , 10%
INDUSTRY MARKET CAP
IdeaGeneration
Research Process
PortfolioConstruction
Risk Management
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 13Fund Name, L.P.
Risk Management
Describe Risk Management Procedures Potential Risk Metrics:
Limits Sector Geography Market Cap
Concentration Hedging Stop Loss Policy Liquidity Analysis Portfolio Volatility Reports
Beta, VaR analysis, stress testing
IdeaGeneration
Research Process
PortfolioConstruction
Risk Management
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 14
Transparency
Weekly Monthly Quarterly Annually
Performance Results
Final NAV
Investor Letter
Portfolio Risk Snapshot
Audited Financial Statements
Additional levels of transparency (i.e. access to the investment team)
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 15
Summary of Terms
Inception Date
Management Fee
Performance Fee
Lock-Up
Redemption Frequency
Minimum Investment
Introducing Broker
Prime Broker
Administrator
Auditor
Legal Counsel
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 16
Appendix
Investment Examples Historical Performance & Attribution Historical Exposure Team Biographies Contact Information
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 17
Investment Example: LONG
Investment Thesis: Background:
Result: Insert Chart
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 18
Investment Example: SHORT
Investment Thesis: Background:
Result: Insert Chart
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 19
Historical Performance
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec YTD
Long
Short
2009
Long
Short
2008
Long
Short
2007
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 20
Historical Exposure
EXAMPLE: Performance and exposure since inception
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 21
Team Biographies
Name, Role: Summary of experience
Name, Role: Summary of experience
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 22
Contact Information
Firm NameAddressPhoneEmail
Marketing ContactPhoneEmail
DRAFT - Merlin Securities Capital DevelopmentFund Name, L.P. 23
Disclaimer
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