ZEST ASSET MANAGEMENT SICAV - Zest North America Pairs Relative Fund I USD/  LU1532291801  /

The Sub-Fund aims seeking a consistent, absolute return while placing emphasis on the preservation of capital in the medium term. The Sub-Fund is actively managed without reference to any benchmark. In order to achieve its investment objective, the Sub-Fund intends to invest at all times at least 51% of its net assets in long and synthetic short positions of equity and equity related securities (including, but not limited to, convertible bonds, equity linked notes, low exercise price warrants and warrants on equities) of issuers, that are incorporated under the laws of, and/or have their registered office in, and/or that derive the predominant part of their economic activity from United States of America and/or Canada, even if listed elsewhere, through pairs relative value strategies. Pairs relative value strategies encompass a wide range of investment techniques that are intended to profit from estimated pricing inefficiencies. These strategies generally involve taking a position in one financial instrument and simultaneously taking an offsetting position in a related instrument in an attempt to profit from incremental changes in the price differential. Such strategy will mainly be implemented by the Sub-Fund through the use of contracts for differences (hereafter "CFD") or futures to obtain synthetic purchase or short sale positions, in order to pursue with more efficiency its investment objective exploiting trends by including companies adversely impacted or to hedge out undesired factor exposures. The Sub-Fund may allocate up to 100% of its net asset to equities. The Sub-Fund is also authorized, for a maximum of 100% of its net assets, to take net long or net short positions (without any corresponding hedges) on the main North American equity indices.

The Sub-Fund aims seeking a consistent, absolute return while placing emphasis on the preservation of capital in the medium term. The Sub-Fund is actively managed without reference to any benchmark. In order to achieve its investment objective, the Sub-Fund intends to invest at all times at least 51% of its net assets in long and synthetic short positions of equity and equity related securities (including, but not limited to, convertible bonds, equity linked notes, low exercise price warrants and warrants on equities) of issuers, that are incorporated under the laws of, and/or have their registered office in, and/or that derive the predominant part of their economic activity from United States of America and/or Canada, even if listed elsewhere, through pairs relative value strategies.