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Contact details

PO Box 211, 2nd Floor, Regency Court, Glategny Esplanade, St Peter Port, Guernsey, GY1 3NQ
014 8171 6117 (Fax Number)
014 8173 9111 (Main Number)

Fund managers

* Jordan/Zalaznick Advisers, Inc»27-Jun-2008 to Present

Investment objectives

This fund seeks to create a portfolio of investments in businesses in the United States and Europe, providing a superior overall return comprised of a current yield and significant capital appreciation.

Key Information

Fund vs sector

  1y 3y
Position 19 / 22 15 / 22
Quartile 4 3

Fund ratings

FE Crown Rating: 0 FE
Crown Rating
(Unrated Sector)


  1y 3y
Volatility 4.99 13.68
Alpha -7.88 -0.13
Beta 0.51 0.93
Sharpe 0.00 0.66
InfoRatio -2.40 -0.15
R2 0.17 0.23
Quartiles:   1  2   3  4   help with ratios
vs. Private Equity»


performance chart
    1y 3y 5y 12m-24m 24m-36m 36m-48m 48m-60m
-2.6 +31.5 +108.1 +10.0 +22.7 +20.4 +31.5
  NAV +2.0-2.3+64.8-5.2 +1.0+28.2+31.7
  Private Equity +5.2+45.2+76.8+21.4+13.7+3.7+17.4
Share Price
 SharePriceDatePrem/DiscDiluted NAVGearingDiv yield
EstimLast pub.NetGross
pdf JZ CAPITAL PARTNERS ORD 419.50 (p) 24-Oct-2014 -31.73 614.46 579.87
129 2.27 2.27
pdf JZ CAPITAL PARTNERS ZDP 345.75 (p) 24-Oct-2014 n/a n/a n/a n/a n/a n/a
Capital structure & income
Share Type Exchange Nominal value Issued Market value (m) Wind-up date Splits News
JZ CAPITAL PARTNERS ORD Ord LONDON 100 65,019,000 272.75 n/a n/a company announcements
Share identifiers: TIDM: JZCP; SEDOL: B403HK5; ISIN: GG00B403HK58
JZ CAPITAL PARTNERS ZDP ZDP n/a n/a - n/a n/a company announcements
Share identifiers: TIDM: JZCN; SEDOL: B40D7X8; ISIN: GG00B40D7X85
Detailed fund information
Fund type Guernsey-registered Investment Trusts
Gross assets£513.4m / $825.6m
Sector Private Equity
Asset ClassEquity
Own ISA wrapper Fund has no ISA Wrapper help with ISA
Savings plan Fund has no Savings Plan 
Annual accountsannual (Click to order)
Last report / accounts24-Sep-2014
Last AGM20-Jun-2014
Next AGMJune 2013
Management contractThe base management fee is an amount equal to 1.5% per annum of the average total assets under management of the Company, payable''quarterly in arrears. Since the advisory agreement was entered into, it has been agreed that the Company will make payments in advance''to the Investment Adviser on account of the base management fee
Borrowing limitThe Company does not have any''borrowing facilities to meet this shortfall in funding and as a result the Company will be presenting the Proposals to the shareholders to''address this working capital deficit.
Continuation / Wind-up provisionIt is intended for the Ordinary Income shares to have an unlimited life. The Company may make market repurchases of up to 14.99% of the issued share capital. This authority is to be renewed at the AGM annually.
Dividend policyn/a
Investment restrictionsn/a
Reconstruction proposalThe Company was launched in connection with a scheme of''reconstruction and voluntary winding up of JZ Equity Partners''Plc ('JZEP') under section 110 of the United Kingdom's''Insolvency Act 1986. JZEP's assets, after providing for its''liabilities were transferred in specie to the Company and the''Company issued to JZEP shareholders (other than those who''opted against the new scheme) one Ordinary share for each''JZEP Ordinary share and ZDP share for each JZEP ZDP share''that they held.
Settlement detailsIn addition to receiving the income distributed, the Ordinary shares are entitled to the net assets of the Company on a winding up, after all ''liabilities have been settled and the entitlement of the ZDP shares have been met. In addition, holders of Ordinary shares will be entitled on ''a winding up to receive any accumulated but unpaid Revenue reserves of the Company, subject to all creditors having been paid out in full ''but in priority to the entitlements of the ZDP shares.''''Any distribution of Revenue reserves on a winding up is currently expected to be made by way of a final special dividend prior to the''''Company's eventual liquidation.
Tax policyWith effect from 1 January 2008, the standard rate of income tax for companies in Guernsey moved from 20% to 0% under the Income ''Tax (Zero Ten) (Guernsey) Law, 2007 passed by the States of Guernsey on 26 September 2007. Close-ended investment vehicles such as ''the Company can continue to apply for exempt status for Guernsey tax purposes. Alternatively they may choose to automatically become ''tax resident, paying the nil rate. The Company elected for exempt status on incorporation.
Peer groups
Region Asset Class Investment Focus Sector
United States Equity Private Equity Private Equity
Largest holdings, 31-Jul-2014
Holding (%) Rank Holding (%) Rank
Regional weightings, 31-Jul-2014
Region (%) Rank  
USA 39.00 1 39.00% USA
Europe 24.00 2 24.00% Europe
Not Specified 16.00 3 16.00% Not Specified
Money Market 9.00 4 9.00% Money Market
Others 7.00 5 7.00% Others
UK 5.00 6 5.00% UK
Sector weightings, 31-Jul-2014
Sector (%) Rank  
Micro Cap 39.00 1 39.00% Micro Cap
European Investments & Other 31.00 2 31.00% European Investments & Other
Real Estate 13.00 3 13.00% Real Estate
Cash 9.00 4 9.00% Cash
UK Treasury Gilts 5.00 5 5.00% UK Treasury Gilts
Listed Corporate Bonds 2.00 6 2.00% Listed Corporate Bonds
Bank Debt 1.00 7 1.00% Bank Debt

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated using closing mid prices and with net income (dividends) reinvested. NAV total return performance figures are calculated using fully diluted (where applicable) daily estimated NAV figures from Thomson Financial Datastream and with gross income (dividends) reinvested.

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Asset allocation

US Equities, 70.00%
70.0000% ofUS Equities
Property, 13.00%
13.0000% ofProperty
Money Market, 9.00%
9.0000% ofMoney Market
US Fixed Interest, 6.00%
6.0000% ofUS Fixed Interest
US Corporate Fixed Interest, 2.00%
2.0000% ofUS Corporate Fixed Interest

Sector analysis


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