Vision Opportunity Fund LP
The Vision Opportunity Fund Limited Partnership is only available by way of offering memorandum to Canadian accredited investors.
Vision has Outperformed in Declining and Volatile Markets
Since their inception, The Vision Opportunity Funds (“Funds” or “Vision Funds”) managed by Vision Capital
Corporation (“Vision”) have outperformed Canadian Equity, Hedge Fund and Real Estate indices,
even in declining and volatile markets.
Vision’s Superior Risk-Adjusted Returns
Since inception, the Vision Funds have been able to outperform Canadian Equity, Hedge Fund and Real Estate indices with a substantially low risk profile.
To request a copy of Vision Capital Corporation’s comprehensive presentation, please contact Jeffrey Olin at firstname.lastname@example.org or (416) 362-6546.
(1): Returns disclosed are representative of a broad array of Canadian hedge funds as represented by the Scotiabank Canadian Hedge Fund Index. These returns are presented for information purposes only and to assist the reader’s top of mind reference to the returns on investments that they may own. As Funds managed by Vision generally employ more of a private equity rather than a hedge fund strategy, this index is not represented, nor intended to be referenced, as a performance benchmark for the Fund.
(2): The S&P/TSX Composite Total Return Index is presented for informational purposes only to assist the reader’s top of mind reference to the returns on other investments that they may own. As a broad-based general stock market index, it is not represented, nor intended to be referenced, as a performance benchmark for the Fund.
(3): The Vision Performance Benchmark Index is an equally weighted average of the S&P/TSX Capped REIT Total Return Index and the Scotiabank Canadian Hedge Fund Index and assumes monthly rebalancing to an equal-weight benchmark. For additional clarifying notes and details of the Vision Opportunity Funds, please contact us and/or refer to www.visioncap.ca
(4): The S&P/TSX Capped REIT Total Return Index is also presented for informational purposes only. While the primarily real estate-oriented focus of the Fund makes this index of more direct relevance to the Fund’s performance, the more narrow criterion used for index inclusion limit the index use as a direct performance benchmark for the Fund.
(5): The MSCI US REIT Index is a free float-adjusted market capitalization index that is comprised of equity REITs. The index is based on MSCI USA Investable Market Index (IMI), its parent index which captures large, mid-size, and small caps securities. With 144 constituents, it represents about 99% of the US REIT universe and securities are classified in the REIT sector according to the Global Industry Classification Standard (CICS(r)). It, however, excludes Mortgage REIT and selected specialized REITS. It is a total return index.
(6): Net Asset Value and Return on Investment data are as provided by Vision Opportunity Fund Limited Partnership’s independent administrator, SGGG Fund Services Inc., and are net of fees and expenses.
(7): July 2, 2008 was the inception date of Vision Opportunity Fund Limited Partnership.
(8): The Sharpe ratio measures the return in excess of the risk-free rate relative to the volatility of the return. The higher the fund’s Sharpe ratio, the better returns the fund has yielded in relation to its risk.
(9): The Sortino ratio is a variation of the Sharpe ratio which differentiates harmful volatility from volatility in general by replacing standard deviation with downside deviation in the denominator. Thus the Sortino Ratio is calculated by subtracting the risk free rate from the return of the portfolio and then dividing by the downside deviation. The downside deviation is defined as the volatility of returns below the risk free rate. The Sortino ratio measures the return to “bad” volatility or a measurement of return per unit of risk on the downside. This ratio allows investors to assess risk in a better manner than simply looking at excess returns to total volatility, since such a measure does not consider how often the price of the security rises as opposed to how often it falls. A large Sortino Ratio indicates a low risk of large losses occurring.
(10): Up-Market and Down-Market Capture Ratios are statistical measures of an investment manager’s overall performance in up and down markets. The up or down market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen or fallen. A negative down market capture ratio indicates that the fund increased on average during the months when the index decreased. (Compared to the S&P/TSX Composite Total Return Index)
(11): All performance and risk metric references to the Class A Units of the Vision Opportunity Fund LP herein refer to Series 1 of the Class A Units of the Vision Opportunity Fund LP. The inception of the Vision Opportunity Fund Limited Partnership was July 2, 2008. On February 28th, 2013, unitholders approved the extension of the Fund and the creation of two classes of Units: Class A and Class B units. On May 23rd, 2014, the Class A units outstanding at that time were renamed Class Z units. Other than short term variations in performance, as a result of series accounting for units issued within the calendar year there are no material differences in performance in Class A and Class Z units.
(12): Past performance is not necessarily indicative of future performance.