The Prism Fund

INSPIRED BY THE SHAPE AND QUALITIES OF A PRISM, THE FUND HAS A MULTIPLICITY OF POSSIBILITIES.

Developed principally as a private debt fund, the Prism Fund engages in specialised financing, within various asset classes.

Its role is to provide simple, streamlined financing solutions to companies with limited access to capital, but that demonstrate they have fundamental value and the ability to repay debt.

We focus on ensuring that the intrinsic value of a business translates into a return on capital invested.

To achieve this, we concentrate our investments in businesses that have a higher probability of superior performance.

We measure this likelihood by testing counterparties according to stringent criteria. If they succeed, further due diligence is conducted before a final decision to include them in the Fund is made.

The Prism team carefully selects investments according to their strategy, assets and geography.

The Fund’s return objective is to target a yield of better than cash in any rolling year.

This return is uncorrelated to market performance and independent of systematic market volatility.

PERFORMANCE

PERFORMANCE COMPARISON (ANNUALISED) NET OF FEES

The Prism Income Fund has a ten-year track record of achieving consistent, stable returns to investors in the range of 7-8% per annum in hard currency.

wdt_ID	metric	1 Year	3 Year	Inception
1	Prism Income Fund (USD)	5.9%	6.4%	7.6%
2	Cash (LIBOR 3m USD) + 4%	8.1%	5.6%	5.0%
3	Prism Income Fund (GBP)	4.8%	5.5%	6.8%
4	Cash (LIBOR 3m GBP) + 4%4.7	7.4%	5.3%	4.8%
5	Prism Income Fund (EUR)	3.5%	4.6%	5.9%
6	Cash (LIBOR 3m EUR) + 4%	5.6%	4.2%	4.2%
7	Prism Income Fund (AUD)	3.7%	4.9%	7.2%
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9	Cash (RBA Cash Rate) +4%	6.5%	4.9%	5.4%
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STATISTICS SINCE INCEPTION (AUG 2009) FOR THE PRISM INCOME FUND VS EQUITY MARKET INDICES

The Prism Income Fund has a significantly low correlation to publically traded markets around the globe, as well as minimal volatility.

wdt_ID	Fund	VOLATILITY	SHARPE	CORRELATION
1	Prism Income Fund (USD)	0.28%	3.88	1
2	Cash (LIBOR 3m USD) + 4%	0.54%	-	-0.27
3	Prism Income Fund (GBP)	0.33%	2.59	1
4	Cash (LIBOR 3m GBP) + 4%	0.46%	-	-0.48
5	Prism Income Fund (EUR)	0.48%	2.74	1
6	Cash (LIBOR 3m EUR) + 4%	0.35%	-	-0.51
7	Prism Income Fund (AUD)	0.49%	3.65	1
8	Cash (RBA Cash Rate) +4%	0.35%	-	-0.59
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GROWTH OF $100 000 INVESTMENT

TRACK RECORD

US DOLLARS

wdt_ID	YEAR	JAN	FEB	MAR	APR	MAY	JUN	JULY	AUG	SEP	OCT	NOV	DEC	TOTAL
1	2009								0.36%	0.29%	0.38%	0.50%	0.52%	2.07%
2	2010	0.54%	0.50%	0.50%	0.55%	0.56%	0.57%	0.51%	0.65%	0.60%	0.68%	0.69%	0.70%	7.29%
3	2011	0.69%	0.52%	0.57%	0.53%	0.81%	0.74%	0.82%	0.74%	0.66%	0.70%	0.67%	0.71%	8.47%
4	2012	0.73%	0.69%	0.73%	0.72%	0.86%	0.76%	0.75%	0.80%	0.80%	0.79%	0.77%	0.73%	9.51%
5	2013	0.68%	0.65%	0.57%	0.81%	0.73%	0.68%	0.71%	0.69%	0.66%	0.75%	0.68%	0.73%	8.68%
6	2014	0.72%	0.73%	0.73%	0.71%	0.68%	0.67%	0.65%	0.58%	0.66%	0.65%	0.63%	0.68%	8.38%
7	2015	0.60%	0.71%	0.60%	0.75%	0.62%	0.71%	0.56%	0.55%	0.51%	0.47%	0.49%	0.43%	7.23%
8	2016	0.67%	0.60%	0.65%	0.60%	0.60%	0.52%	0.69%	0.63%	0.57%	0.54%	0.64%	0.51%	7.45%
9	2017	0.69%	0.56%	0.56%	0.67%	0.69%	0.74%	0.75%	0.66%	0.69%	0.62%	0.75%	0.66%	8.34%
10	2018	0.75%	0.63%	0.57%	0.64%	0.50%	0.69%	0.72%	0.44%	0.76%	0.55%	0.76%	0.61%	7.88%
11	2019	0.73%	0.58%	0.65%	0.60%	0.57%	0.60%	0.71%	0.53%	0.61%	0.71%	0.72%	0.66%	7.9%
12	2020	0.53%	0.59%	0.64%	0.33%	0.39%	0.46%	0.38%	0.43%	0.46%	0.58%	0.66%	0.67%	6.3%
13	2021	0.71%	0.62%	0.53%	0.62%	0.63%	0.61%	0.51%	0.49%	0.53%	0.56%	0.51%	0.57%	7.1%
14	2022	0.51%	0.47%	0.49%	0.43%	0.45%	0.47%	0.46%	0.44%	0.44%	0.50%	0.50%	0.47%	5.8%
15	2023	0.60%	0.42%	0.52%	0.51%									2.1%
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GBP – STERLING

wdt_ID	YEAR	JAN	FEB	MAR	APR	MAY	JUN	JULY	AUG	SEP	OCT	NOV	DEC	TOTAL
1	2009								0.15%	0.25%	0.38%	0.48%	0.46%	1.72%
2	2010	0.49%	0.52%	0.66%	0.62%	0.65%	0.63%	0.56%	0.74%	0.71%	0.73%	0.69%	0.71%	7.98%
3	2011	0.72%	0.65%	0.69%	0.62%	0.75%	0.61%	0.56%	0.56%	0.56%	0.62%	0.58%	0.62%	7.80%
4	2012	0.65%	0.60%	0.67%	0.67%	0.75%	0.67%	0.75%	0.79%	0.78%	0.77%	0.75%	0.77%	8.95%
5	2013	0.76%	0.71%	0.62%	1.13%	0.40%	0.88%	0.74%	0.72%	0.34%	0.74%	0.62%	0.48%	8.46%
6	2014	0.66%	0.54%	0.65%	0.62%	0.73%	0.52%	0.61%	0.56%	0.56%	0.45%	0.49%	0.59%	7.21%
7	2015	0.41%	0.71%	0.48%	0.85%	0.60%	0.61%	0.53%	0.48%	0.47%	0.39%	0.42%	0.39%	6.54%
8	2016	0.65%	0.53%	0.60%	0.58%	0.56%	0.19%	0.70%	0.66%	0.63%	0.68%	0.67%	0.55%	7.23%
9	2017	0.56%	0.49%	0.51%	0.62%	0.63%	0.71%	0.73%	0.68%	0.59%	0.49%	0.59%	1.01%	7.88%
10	2018	0.34%	0.56%	0.52%	0.59%	0.67%	0.53%	0.56%	0.26%	0.65%	0.38%	0.60%	0.43%	6.27%
11	2019	0.53%	0.58%	0.63%	0.43%	0.19%	0.43%	0.51%	0.30%	0.42%	0.61%	0.38%	0.58%	5.7%
12	2020	0.43%	0.52%	0.51%	0.06%	0.36%	0.42%	0.27%	0.4%	0.41%	0.47%	0.59%	0.54%	5.1%
13	2021	0.64%	0.59%	0.52%	0.41%	0.41%	0.61%	0.48%	0.48%	0.55%	0.36%	0.53%	0.35%	6.1%
14	2022	0.52%	0.50%	0.49%	0.40%	0.42%	0.51%	0.46%	0.42%	0.55%	0.43%	0.34%	0.32%	5.5%
15	2023	0.32%	0.36%	0.37%	0.27%									1.3%
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EURO

wdt_ID	YEAR	JAN	FEB	MAR	APR	MAY	JUN	JULY	AUG	SEP	OCT	NOV	DEC	TOTAL
1	2009								0.26%	0.27%	0.78%	0.18%	0.47%	1.97%
2	2010	0.68%	0.64%	0.59%	0.52%	0.53%	0.55%	0.49%	0.50%	0.59%	0.67%	0.62%	0.66%	7.27%
3	2011	0.68%	0.60%	0.56%	0.53%	0.65%	0.60%	0.46%	0.50%	0.47%	0.60%	0.53%	0.49%	6.87%
4	2012	0.60%	0.62%	0.49%	0.55%	0.65%	0.55%	0.58%	0.73%	0.74%	0.65%	0.62%	0.51%	7.54%
5	2013	0.50%	0.56%	0.62%	0.81%	0.38%	1.11%	0.63%	0.71%	0.36%	0.70%	0.70%	0.52%	7.86%
6	2014	0.68%	0.58%	0.62%	0.66%	0.75%	0.50%	0.61%	0.52%	0.42%	0.44%	0.52%	0.47%	6.97%
7	2015	0.38%	0.52%	0.27%	0.29%	0.55%	0.58%	0.48%	0.41%	0.40%	0.42%	0.48%	0.33%	5.24%
8	2016	0.60%	0.57%	0.41%	0.51%	0.52%	0.42%	0.76%	0.46%	0.41%	0.71%	0.72%	0.35%	6.63%
9	2017	0.51%	0.43%	0.37%	0.59%	0.59%	0.61%	0.72%	0.65%	0.62%	0.54%	0.59%	0.85%	7.32%
10	2018	0.31%	0.51%	0.47%	0.58%	0.74%	0.48%	0.38%	0.14%	0.54%	0.30%	0.55%	0.31%	5.45%
11	2019	0.45%	0.53%	0.63%	0.25%	0.10%	0.35%	0.33%	0.24%	0.29%	0.43%	0.19%	0.49%	4.4%
12	2020	0.41%	0.42%	0.33%	0.07%	0.05%	0.18%	0.21%	0.38%	0.19%	0.40%	0.50%	0.43%	3.6%
13	2021	0.63%	0.58%	0.47%	0.45%	0.48%	0.56%	0.45%	0.43%	0.55%	0.51%	0.48%	0.40%	6.2%
14
15	2022	0.44%	0.42%	0.41%	0.40%	0.34%	0.33%	0.42%	0.31%	0.29%	0.33%	0.32%	0.04%	4.1%
16	2023	0.25%	0.24%	0.23%	0.32%									1.0%

AUSTRALIAN DOLLAR

wdt_ID	YEAR	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC	TOTAL
1	2014													3.50%
2	2015	0.66%	0.77%	0.66%	0.81%	0.68%	0.77%	0.62%	0.60%	0.58%	0.71%	0.65%	0.39%	8.20%
3	2016	0.83%	0.85%	0.78%	0.79%	1.02%	0.81%	0.81%	0.82%	0.73%	0.76%	0.74%	0.72%	10.10%
4	2017	0.60%	0.65%	0.77%	0.75%	0.83%	0.73%	0.82%	0.66%	0.74%	0.65%	0.63%	0.67%	8.80%
5	2018	0.66%	0.63%	0.62%	0.74%	0.71%	0.75%	0.74%	0.69%	0.69%	0.71%	0.74%	0.65%	8.60%
6	2019	0.62%	0.31%	0.56%	0.61%	0.58%	0.64%	0.66%	0.64%	0.61%	0.61%	0.45%	0.55%	7.1%
7	2020	0.62%	0.70%	0.46%	0.34%	0.43%	0.41%	0.22%	0.33%	0.19%	0.26%	0.14%	0.68%	5.2%
8	2021	0.46%	0.40%	0.47%	0.45%	0.58%	0.50%	0.53%	0.55%	0.54%	0.61%	0.57%	0.39%	6.4%
9	2022	0.37%	0.45%	0.40%	0.32%	0.38%								1.9%
10	2023	0.04%	0.23%	0.26%	0.28%									0.8%
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The Track Record above is for the Prism Income Australia Fund.
The Prism Income Australia Fund’s Inception Date is 1 December 2015.
All performance figures prior to 1 December 2015 are based on a carve out of the Australian exposure within the Prism Income Fund.

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