the goal of the COMPANY within the scope of the principles and rules is to run the portfolio of the gold and other precious metals traded on the domestic and international stock exchanges or on the street markets, by the regulation of the market instruments: The COMPANY within the bounds of this goal:
a) Forms, manages the portfolio of the partnership and makes changes in the portfolio when required.
b) Distributes the portfolio diversification to be able to minimize the investment risk at the very least, by the activity fields and the status of the partnerships.
c) Monitors the developments regarding the stocks and shares, financial markets and corporations, partnerships and takes the necessary precautions about the portfolio management.
d) Makes researches towards holding and increasing the value of portfolio.
Threshold Value of Portfolio: BIST-KYD Monthly TL Deposit Index +%1
Investment Strategy of the Portfolio: Based on the portfolio net asset value, the minimum and maximum limits for the assets and transactions that may be included in the portfolio are shown in the following table:
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Garanti Investment Partnership Inc. Investment Restrictions
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Time Deposit (TL)/ Participation Account (TL)
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0%
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10%
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Public and/or Private Sector Debt Instruments
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0%
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100%
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|
Public and/or Private Sector Lease Certificate
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0%
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100%
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|
Foreign Public and/or Private Sector Debt Instruments (Eurobond)
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0%
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20%
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Share Certificate
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0%
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100%
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Reverse Repurchase
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0%
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100%
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Takasbank Exchange Money Market
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0%
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20%
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Repurchase
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0%
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10%
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Stock Exchange Mutual Fund, Mutual Fund Participation Shares, Foreign Exchange Mutual Fund
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0%
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20%
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Foreign Partnership Interest
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0%
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20%
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Gold and Other Precious Metals and capital market instruments exported based on these metals
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0%
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20%
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|
Hyphotec and Asset Guaranteed Securities
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0%
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25%
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Providing not to exceed the upper limits that determines the maximum amount of investment and within the framework of principles determined by the Board, to protect the portfolio from risks and/or for investment purposes, derivative instruments, warrants and certificates based on foreign exchange, precious metals, interest, financial indices and capital market instruments may be included from domestic and foreign stock markets, and for risk protection, forward and swap transactions based on foreign exchange may be included from over-the-counter markets.
The sum of the investments made to the investment enterprise certificates with the investment enterprise and partnership warrants cannot exceed 10% of the net asset value. In addition, the warrants issued by a single issuer and the sum of investment enterprise certificates cannot exceed 5% of the net asset value.
A credit amount of up to %20 of the equity capital amount of annual financial statements for the last accounting period announced to the public sector may be used, or by means of staying within the same limits, bonds may be issued under the capital market legislation. An amount of up to 10% of the fair value of assets, that may be subject to repurchase transactions in the portfolio, can be repurchased in the over-the-counter market.
Up to 10% of the net asset value, investment on reverse repurchase agreements can be done in over-the counter.
In the case of being party to over-the-counter repo-reverse repurchase contracts; the contractual rate, the interest rate, the counterparty, and the counterparty's rating note will be announced in PDP (Public Disclosure Platform) within the business day following the latest date of the contract.
Due to all transactions that create leverage on the portfolio, the exposed amount of open position cannot exceed the net asset value.
Measured at 99% confidence interval, in observation period of 250 business days and day-old holding period, the ratio of the portfolio absolute value at risk (VAR) to net asset value cannot exceed 1,5%.
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