Investment Team

These experienced investment professionals manage the Fund.

Alan Koska

PORTFOLIO MANAGER

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Alan Koska

PORTFOLIO MANAGER

Mr. Koska is a portfolio manager and executive director for TGPF. Mr. Koska has extensive experience in the development of classic quantitative investment strategies as well as in the area of deep learning algorithms. Previously, Mr. Koska worked for the asset management division of a global insurance company in the area of data analytics and for a leading hedge fund in the area of quantitative investment strategies.

Christos Kassianides

PORTFOLIO MANAGER

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Christos Kassianides

PORTFOLIO MANAGER

Christos Kassianides is the founder and owner of Eleon Capital Management Ltd. Mr. Kassianides is a Portfolio Manager with over 25 years of experience in Portfolio Management, Treasury for Banks and Private Companies. Mr. Kassianides is also the Portfolio Manager for a UCITS-regulated bond fund. Mr. Kassianides previously owned an investment firm focusing on private wealth and portfolio management. He was also a treasurer for various South African and European Investment Banks.

Partner

The following experts support the investment team.

Christos Michaelides

EXPERT IN TREASURY AND RISK MANAGEMENT, NON-EXECUTIVE DIRECTOR OF TGPF

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Christos Michaelides

EXPERT IN TREASURY AND RISK MANAGEMENT, NON-EXECUTIVE DIRECTOR OF TGPF

Mr. Michaelides has 15 years of relevant work experience, of which 12 years is in C-suite positions at financial institutions and financial advisory firms. His experience includes treasury and risk management of credit and other financial institutions, product management and international business development, financial and general management of regulated investment firms, and offering of financial advisory services to international banks, investment firms, alternative investment funds and electronic money institutions. He holds a BSc in Business Administration with a specialization in Finance from the University of Cyprus and is a CFA charterholder.

Charis Savvides

EXPERT IN REGULATORY COMPLIANCE & FUND SERVICES

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Charis Savvides

EXPERT IN REGULATORY COMPLIANCE & FUND SERVICES

Mr. Savvides is an experienced corporate lawyer, leading the regulatory compliance and funds services at a global consulting & law firm. He is an advisor for various local and foreign Companies, including regulated Legal entities by CySEC and the Central Bank of Cyprus. His practice areas include, among others, the regulatory framework of digital services and digital markets, especially in corporate, investment and financial law. Mr. Savvides teaches law at the University of Nicosia and trains various Law Enforcement Agencies in the world in relation to crypto crimes investigations.

Frequently Asked Questions

The following questions and answers will give you a brief overview of TGPF.

1. What overall strategy does the Fund utilize? What role does Artificial Intelligence play in the overall strategy?

The Great People Fund pursues an innovative multi-strategy total return approach using quantitative algorithms, including artificial intelligence, to enhance proven investment strategies and thus target attractive returns regardless of market conditions.

Artificial intelligence significantly contributes to the overall portfolio strategy in that pattern recognition algorithms can be used to identify correlations in the market that are still unknown to the rest of the market players. This gives the investment approach of The Great People Fund a significant investment edge.

2. What kind of algorithms are used in the Fund?

The algorithms used in the Fund are divided into three classes.

Class 1: Fully self-developed algorithms based on AI.
The algorithm "Ally" is a long/short strategy that provides a target price, accompanied by its likelihood of occurrence within a specified time frame. At its core, it uses a modified Convolutional Neural Network (CNN), a Deep Learning model known for processing structured grid data like images, tailored to our feature engineering process.

The algorithm "Shield" identifies latent risks, especially those not captured by conventional assumptions, emphasizing on price risk. It processes performance data through a Recurrent Neural Network (RNN), another type of Deep Learning model adept at handling sequential data, enabling early detection of potential drawdowns.

Class 2: More complex and already published strategies (linear and non-linear) are analyzed and improved with the Shield algorithm.

Class 3: Shield algorithm analyses and improves long and short factor strategies (linear only). The selected companies are then cross-checked with the Ally algorithm.

3. What differentiates The Great People Fund from other investment funds?

Compared to other Investment Funds, The Great People Fund not only has advanced AI algorithms for pattern recognition, but the Fund Management also uses a dual approach to be able to implement the overarching multi-strategy total return approach. To do this, elements of quantitative and qualitative investing are uniquely combined.

With the help of quantitative analysis tools, including artificial intelligence, the most promising single-factor strategies can be identified within the framework of an extended factor investing approach. At the same time, a qualitative analysis of the markets takes place as part of risk management to protect the portfolio from irrational market movements and prevent them by taking appropriate measures. This combination is unique in active portfolio management and gives the Fund adecisive edge over other market participants.

4. What will be the target return of The Great People Fund? What will the portfolio's composition be and which products will be used? What will be the portfolio turnover and the geographic focus?

The portfolio managers of The Great People Fund aim for an annual return of 15% (targeted annualized gross return on investment). For this purpose, the portfolio should contain 5 to 15 individual strategies within the framework of a multi-strategy, which should comprise a total of 50 to 200 securities. The investments can span several asset classes (including equities, fixed income, commodities, foreign exchange and interest rate futures) and security types, including futures and options. The portfolio will be adjusted weekly, provided that irrational market fluctuations do not require premature intervention by the portfolio managers. For all equity strategies used, preference is given to the US equity market, which is liquid and has a better data basis. This reduces slippage and at the same time, increases the accuracy of our prediction models.

5. How is the risk management structured? How do you handle position sizing, diversification and leverage as part of your investment strategy?

The risk management of The Great People Fund is characterized by continuous stress testing and real-time monitoring of the performance of the individual factor strategies and the overall portfolio strategy. The Risk Management measures lead to a dynamic portfolio adjustment, whereby an asymmetric relationship between risk and return shall be formed, focusing on risk minimization and thus protecting the portfolio returns. Specifically, this means the Fund has a basic risk structure in the portfolio, which is then allocated to the number of uncorrelated trades. There is, therefore, a monthly maximum risk to which the portfolio is exposed. This maximum risk is then distributed among the trade baskets. Instead of allocating capital, the focus is solely on limiting risk. The maximum leverage of 300% ensures that the strategies can be executed at all. However, it does not mean in any way that the leverage is fully used.
Risk Management Procedures exist at the Fund’s Portfolio Management level. There are important Risk Management Policies and Procedures implemented by the External Fund Manager’s (Eleon Capital Management) level, which is a regulatory requirement. An appointed Risk Manager is responsible for implementing the Risk Management Policies and Procedures for the TGPF as approved by Eleon Capital Management’s Risk Management Committee and Board of Directors. These policies and procedures aim to monitor the risks (volatility) and the TGPF’s performance for the investors’ benefit. The Key Information Document (KID) provides a qualitative and quantitative overview of the key risk elements of the Fund and is an important part of the legal offering documents.

6. In which currency is the portfolio managed? How is currency risk handled when the Fund has foreign currency exposure?

The portfolio is managed in EUR

The foreign currency risk is fully or only partially hedged. This depends entirely on the macro assessment. Due to the fact that the Fund is only interested in liquid assets and liquid countries, hedging is cost-efficient to implement. Especially in this case, we use our partner Alpha FX, which offers the most efficient solutions.

7. How is the Fund structured and with which regulatory agency is the Fund registered?

The Great People Fund RAIF V.C.I.C. Ltd is registered with the Cyprus Securities and Exchange Commission (CySEC) as a Registered Alternative Investment Fund (RAIF) with registration number RAIF 157. The registration took place on June 26, 2023.

8. What is the role of the Fund partners? What entity is responsible for compliance and audit of the Fund? Which entity acts as the depositary?

The Great People Fund relieson a number of Fund Partners to complete the structure of the Fund to meet all regulatory requirements. Eleon Capital Management Ltd. (ECM) is the Fund’s Investment (or External) Fund Manager and is responsible for the client subscription process together with the Administrator, among other things. At the same time, the Fund follows Eleon Capital Management’s portfolio management compliance procedures. PwC is the Administrator of the Fund and supports the subscription process. At the same time, PwC is also the auditor of The Great People Fund and audits the accounts and calculates the monthly net asset value (NAV). Citibank, Netherlands (through the intermediary Alpha FX) provides the bank account (IBAN) for The Great People Fund. T.C.R. International Ltd. (T.C.R.) is not only the Depository but also the broker of the fund and provides the securities account andthe technical infrastructure for the implementation of the buy and sell orders of the Fund’s portfolio managers.

9. Who can invest in the Fund?

Due to the regulatory structure of an Alternative Investment Fund, only selected investor categorizations can invest in The Great People Fund. These include well-informed, professional investors (semi-professional) and institutional investors. Geographically, the Fund aims to attract investors from across the EU, but initially mainly from the DACH region and Cyprus.

10. What is the minimum investment amount?

The minimum investment amount for professional investor’s is EUR 125,000. For well-informed (semi-professional) it is EUR 200,000.

11. Can I pay into the portfolio in a currency other than Euro? If so, how will it be handled afterwards?

When depositing, you can deposit into the portfolio in any currency, which will then be converted into the target portfolio currency. You can have your currency risk hedged with our partner Alpha FX when depositing. Eleon Capital Management and TGPF are not responsible for this service.

12. When can an investor invest in or exit the Fund?

New investors can join The Great People Fund at the beginning of each month. Redeeming from the Fund must be announced in writing (by e-mail) at least five (5) working days before the end of a calendar month.

13. What are the requirements or costs associated with subscribing or redeeming from the Fund?

The initial subscription fee for The Great People Fund is up to 5%. The redemption fee is up to 3%.

14. What is the fee structure for the portfolio management of The Great People Fund?

The Great People Fund has an attractive cost structure. In addition to one-off costs (entry cost and exit costs), the investor incurs annual portfolio transaction costs of 0.05% and other ongoing costs of 2.20% on the investment capital. A 20% performance fee is only charged if the portfolio manager exceeds a high watermark. The Key Information Document (KID) provides an overview of the cost elements of the Fund and is an essential part of the legal offering documents.

15. How often is the portfolio's value calculated and what is communicated to the investors?

The value of the portfolio of The Great People Fund is calculated and confirmed monthly by the Administrator(PwC). Monthly, the investor receives a statement of the value of his portfolioby e-mail, including a brief market assessment from the portfolio manager.

16. How are investor complaints handled?

In accordance with its requirements, the Fund Manager (Eleon Capital Management), as a regulated AIFM, maintains an effective and transparent procedure for handling complaints and grievances from clients and investors. In the event of such a matter, the investor shall submit a complaint to the Fund Manager by filling in the relevant complaint form found on the AIFM website and send it to the address/ email or fax provided therein. The Fund Manager processes the complaint and shall maintain records of any complaint or grievance, including any action taken to resolve it.

17. Who are the portfolio managers and what is their respective background?

The portfolio managers of The Great People Fund - Alan Koska and Christos Kassianides - have intensive experience in portfolio management, investment analysis and algorithm development. Mr. Koska's area of expertise is the development of quantitative investment strategies as well as deep learning algorithms. Mr. Kassianides has over 25 years of experience in classical portfolio management.

18. Who is the owner of the Fund?

The owner of The Great People Fund is 100% Qnology AI Ltd, a Cyprus-based research house focused on the development of artificial intelligence in portfolio management.

19. What is the management's vision for developing The Great People Fund over the next five (5) years?

Our vision for the next five (5) years is to explore even more artificial intelligence (AI) possibilities and implement the corresponding findings in the capital market. To maintain as much freedom and impartiality as possible in this development, Qnology AI Ltd. - the 100% owner of The Great People Fund - will continue to be a privately held company. However, as we consider the company's future growth, we remain open to the possibility of engaging a strategic investor or pursuing an Initial Public Offering (IPO).

The Great People Fund
Multi-Strategy

Total Return Approach

Innovation

Balance

Fund Partners

Investment Team

Alan Koska

Christos Kassianides

Partner

Christos Michaelides

Charis Savvides

Frequently Asked Questions

Receive Fund Legal Documents

The Great People FundMulti-Strategy

Total Return Approach

Innovation

Balance

Fund Partners

Investment Team

Alan Koska

Alan Koska

Christos Kassianides

Christos Kassianides

Partner

Christos Michaelides

Christos Michaelides

Charis Savvides

Charis Savvides

Frequently Asked Questions

1. What overall strategy does the Fund utilize? What role does Artificial Intelligence play in the overall strategy?

2. What kind of algorithms are used in the Fund?

3. What differentiates The Great People Fund from other investment funds?

4. What will be the target return of The Great People Fund? What will the portfolio's composition be and which products will be used? What will be the portfolio turnover and the geographic focus?

5. How is the risk management structured? How do you handle position sizing, diversification and leverage as part of your investment strategy?

6. In which currency is the portfolio managed? How is currency risk handled when the Fund has foreign currency exposure?

7. How is the Fund structured and with which regulatory agency is the Fund registered?

8. What is the role of the Fund partners? What entity is responsible for compliance and audit of the Fund? Which entity acts as the depositary?

9. Who can invest in the Fund?

10. What is the minimum investment amount?

11. Can I pay into the portfolio in a currency other than Euro? If so, how will it be handled afterwards?

12. When can an investor invest in or exit the Fund?

13. What are the requirements or costs associated with subscribing or redeeming from the Fund?

14. What is the fee structure for the portfolio management of The Great People Fund?

15. How often is the portfolio's value calculated and what is communicated to the investors?

16. How are investor complaints handled?

17. Who are the portfolio managers and what is their respective background?

18. Who is the owner of the Fund?

19. What is the management's vision for developing The Great People Fund over the next five (5) years?

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The Great People Fund
Multi-Strategy