Seleccionar página

We focus on emerging markets

We aim to offer our clients the best risk-reward opportunities.

Learn more

Our investment philosophy is value-based and fundamentally driven, with a strong emphasis on macro analysis and portfolio construction. We rely on a rigorous and repeatable investment process seeking superior risk-adjusted returns across geographies and asset classes.

Emerging markets encompass a highly diverse set of realities, which over time has led to a wide range of investment outcomes. Our distinctive approach lies in identifying opportunities with an asymmetric distribution of potential returns.

Our team boasts an unparalleled combination of market expertise and policy experience in the emerging markets landscape, hard to find in another team investing in this space. And this is one of the essences of Tenac’s strength.

Emerging markets encompass a highly diverse set of realities, which over time has led to a wide range of investment outcomes. Our distinctive approach lies in identifying opportunities with an asymmetric distribution of potential returns.

Our team boasts an unparalleled combination of market expertise and policy experience in the emerging markets landscape, hard to find in another team investing in this space. And this is one of the essences of Tenac’s strength.

Contact us

Awards

This fund was ranked based on the data in Barclay Hedge's hedge fund database

Awards

This fund was ranked based on the data in Barclay Hedge's hedge fund database
This fund was ranked based on the data in Barclay Hedge's hedge fund database

DISCLAIMER

This presentation is not an offer to sell or a solicitation of an offer to buy securities of any Tenac fund (“Fund”) or any other fund. Solicitations of offers to buy interests in a Fund will be made only pursuant to the Fund’s Offering Memorandum, which contains a complete description of the Fund and the risks inherent in an investment in the Fund and which qualifies this presentation in its entirety. An investment in a Fund involves a high degree of risk and is suitable only for sophisticated and qualified investors, and investors should be prepared to suffer losses of their entire investments. No assurances can be given that any Fund’s investment objectives will be achieved, and investment results may vary substantially on a quarterly or annual basis. In addition, depending on conditions and trends in securities markets and the economy generally, Tenac Asset Management, LLC (“TAM”), as TGF’s General Partner, may pursue any objectives, employ any techniques or purchase any type of instrument that it considers appropriate and in the best interest of that Fund.

This document has been prepared for the information of investors and prospective investors in the Fund and is not intended to be distributed to the general public. Past performance does not guarantee future results.

General: The performance data in this presentation are intended to show the performance of Tenac’s long only track record over the periods indicated. Performance figures include the reinvestment of interest, dividends and other earnings; the deduction of transaction costs and all other fees and expenses, including a 1.25% management fee and the deduction of performance allocation in excess of benchmark (the highest rate to which any TAM clients are subject) in case it should apply. However, the performance results do not reflect the deduction of any resulting tax liabilities.

Performance Data Limitations: The actual performance experienced by any individual investor may differ from the performance shown as a result of the investor’s being subject to an alternative fee structure and various factors such as the timing of the investor’s contribution to or withdrawal from the relevant Fund and the investor’s high-water mark. The performance results reflect investments for a limited period of time and therefore do not reflect performance in all different economic or market cycles. 

While the performance was generated with investment philosophies and methodologies that TAM believes will be similar to those it will use in the Fund’s ongoing investment activities, future investments will be made under different economic and market conditions and in different securities. The performance data have not been compiled, reviewed or audited by an independent accountant, and data for recent periods may be adjusted as a result of a subsequent audit for the year of which those periods are a part. It should not be assumed that investors will in the future experience returns, if any, comparable to those presented in this presentation.

Index Data: The EMBI Global Diversified (“EMBIGD”) is a broad-based unmanaged index of bonds that is intended to be representative of Emerging Markets sovereign and quasi sovereign fixed income market in general. The EMBI Global Diversified Investment Grade and High Yield (“EMBIGD IG” and “EMBIGD HY”) represent the components of the EMBIGD that are high grade and high yield respectively. Performance data for EMBIGD, EMBIGD IG and EMBIGD HY reflect reinvestment of income but do not reflect the deduction of any transaction or management fees or costs. The presentation of index data does not reflect a belief by TAM that the index is an alternative to any Tenac Fund or comparable in any way to any Tenac Fund.

Those data are included only to provide some indication of the performance of U.S. and global securities markets generally during the periods for which the TGF’s performance data is presented. The indices are unmanaged and diversified (across companies, industries and sectors), while TAM may concentrate TGF’s respective investments in a relatively few industries, or sectors and may invest in corporate or sovereign bonds with smaller or larger market capitalizations and trade actively.