Funds

Dynamo Cougar

Dynamo Cougar Fundo de Investimentos em Ações - BDR Nível I is our original fund, established in September 1993.

It is one of Brazil’s largest equity funds, with individuals as well as institutional investors as shareholders. Assets under management and the client base have grown “naturally”, mainly due to recommendations coming from the current shareholders. The fund’s past performance was used to endorse such arguments.

The average period of investment of Dynamo Cougar’s shareholders is considerably elevated, and that reflects the shareholders’ alignment with our investment philosophy. Although short term results are quite satisfactory, the fund is destined to investors seeking medium and long term returns. Legally, the fund is destined to qualified investors.

The Dynamo Cougar fund has delivered a compounded profitability that exceeds market benchmarks. Through the “interactive performance” tool, you can check the performance of the fund, over a determined time period, compared to other market indexes.

Besides that, not only the performance itself is important, but also the way in which it was obtained. To care about the preservation of our shareholders’ wealth is an important aspect of our investment strategy. In that sense, we are prone to invest in established, well run, resilient and protected businesses, negotiating at reasonable valuations. With that, we have obtained returns that are superior to market benchmarks, and we believe that we are exposing our shareholders to a lower risk profile than the average equity investing universe.

Investment Objectives

The objective of the FUND is the appreciation of its shares in the long term, through asset allocation in a diversified portfolio of equity investments. The main risk is the variation in the price of the stocks that are negotiated in the stock exchange or in organized over the counter markets. These operations are subject to legal and bylaw limitations.

Investment Policy

The FUND adopts exclusively, as an investment philosophy for managing stocks, a fundamental-based analysis, seeking, through an active attitude towards the companies, consistent medium and long term results with low volatility and little concern for immediate liquidity.

Prospective Clients

The FUND is destined, exclusively, to qualified investors, a category defined by CVM’s bylaws.

Risk Profile

The risk assessment of the administrator accompanies the whole process of investment decisions. The risk of a particular asset is not determined numerically, through the precise definition of the variance of return around the average. It is incorporated throughout the fundamental analysis process. In regards to measuring the portfolio risk, the method used is mainly bottom-up, emphasizing the risk of each asset. Additionally, the administrator also considers issues like the risk of subjacent sectors and its implications on the portfolio’s concentration. Notwithstanding the administrator’s diligence of applying the previous investment policy and risk assessment measures, the fund’s investments will, naturally, be susceptible to market fluctuations and credit risks. For that reason, a partial or full loss of the invested capital is a possibility, as well as the fund presenting a negative net worth. In that last case, the shareholders will not be responsible for additional capital contributions and the FUND will be liquidated following a decision taken as a result of a shareholders’ meeting. The administrator will be responsible for the liquidation of a possible negative net worth.

Technical Information

Minimum investment: R$300.000,00

Minimum Additional Investment and Redemption: R$30.000,00

Investment NAV: NAV of the business day following the date of the investment.

Redemption Conditions: Proceeds available in 3 business days after the NAV conversion.

Lock-up period: 90-day minimum investment period or a liquidity fee of 3% for redemptions within this minimum period.

Management Fee: 2% per annum

Performance fee: 15% of returns exceeding the benchmark of IPCA + IMAB*

*Refer to the Fund’s by-laws for a detailed description.

Adjustment of Performance Fee: Each investment may be charged an individual performance fee adjustment if the subscription price is lower than the preceding highest NAV. This adjustment is equal to a percentage of the individual gain during the period in which the fund was not directly charged a performance fee.

Income Tax: 15% of the nominal gain for Brazilian taxed investors and 10% for foreign investors incorporated in a non-tax heavens.

Auditor: KPMG Auditores Independentes

Administrator: Dynamo Administração de Recursos Ltda

Manager: Dynamo Administração de Recursos Ltda

Anbima Category: Equity Investors

Inception date 01/09/1993

Documents (only in Portuguese)

Regulamento

Política de Voto

Manual de Precificação Bradesco

Demonstração de Desempenho (Anexo IV-Item 3)

Formulário de Informações Complementares

Convocação - Assembleia Geral Ordinária