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Vaerah Vahrokha Vahrokh Consulting 1940	Posted - 2012.10.21 18:18:00 - [1] - Quote Contents 1. Introduction 2. Overview 3. Funds offering 4. VEMEX Exchange 5. Business Plan Overview 6. Management 7. Expansion and Exit Strategies 8. Investor Key Facts 9. Market Makers 10. Significant Risks 11. Reservations 12. Delegates 13. Purchase Details 1. Introduction This document is the Initial Public Offering for Vahrokh Financial Technologies [VAHFT] series of Mutual Funds. VAHFT is the implementor and executor of the business ideas created by Vahrokh Consulting [VAHCO]. This document is a follow up to the original draft and material to be found at this location. Perspective Investors are warmly encouraged reading the whole text paying attention to all the details. Due to the amount of involved facilties and prospectuses, this IPO will just refer to them as links to their official repository, located on Vahrokh.com. The prospectuses are very similar to the Vanguard(tm) RL funds ones. For book keeping purpose, those documents will be translated into an EvE forums compatible version upon Investors request. For general introductory texts about what funds are and how they work, please refer to this post. 2. Overview VAHFT is about to launch a series of Mutual Funds within the Vahrokh's EvE's Merchantile Exchange [VEMEX]. The purpose of this IPO is to raise Investors capital to finance the initiative. VAHCO is going to be invested as well, for an amount of 10B evenly spread across the funds. Funds are meant to be a long term investment, however Investors may choose to stay invested for as little as one month. VAHFT opted to offer a series of multiple funds in order to cater to different Investor preferences. The products cover a broad spectrum, from a "no brainer" simplified open end fund to more speculative funds based on Tech 2 materials. 3. Funds offering This IPO covers five Funds: one open ended Fund and four close ended ones. A comprehensive listing of VAHFT managed funds including the ones included in this offer is available on the VAHFT page. A lot of discussion and explanations about the Funds has been done on the draft thread. Easy Fund [ESYFND] is the no brainer, no-nonsense open end fund for everyone. Lowest fees, no secondary market, you just put money in and receive monthly (end of month) dividends. Like the other IPOs and unlike bonds, those dividends are variable. Due to its underlying portfolio, it is also the Fund with the smoothest (but not top) performance. For a full description and details about the Easy Fund please refer to the official prospectus, available at this location. Adaptive Minerals Basket [MINBSK] is the high liquidity and lowest cost closed fund for Investors who want to take advantage of being able and trade shares on an exchange. They will also receive monthly dividends. The Fund is based on an ever changing basket of minerals. For a full description about the Adaptive Minerals Basket Fund please refer to the official prospectus, available at this location. Adaptive Ices Basket [ICEBSK] is the high liquidity and low cost closed fund for Investors who want to take advantage of being able and trade shares on an exchange. They will also receive monthly dividends. The Fund is based on an ever changing basket of ices and related materials (i.e. heavy water). For a full description about the Adaptive Ices Basket Fund please refer to the official prospectus, available at this location. Adaptive Tech II Basket [T2BSK] is the speculative closed fund for Investors who want to take advantage of being able and trade shares on an exchange. They will also receive monthly dividends. The Fund is based on an ever changing basket of moon and advanced Tech II materials. For a full description about the Adaptive Tech II Basket Fund please refer to the official prospectus, available at this location. Adaptive Planetary Interaction Basket [BSK] is another speculative closed fund for Investors who want t... Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vaerah Vahrokha Vahrokh Consulting 1940	Posted - 2012.10.21 18:19:00 - [2] - Quote 4. VEMEX Exchange All the Funds covered by this IPO will be traded on the Vahrokh's EvE's Merchantile Exchange [VEMEX]. Easy Fund Investors will have little interaction with it, in fact at IPO launch they'll receive their shares and everything will go on autopilot until they want to redeem them (redeeming is done by "selling" on the Exchange). Perspective Easy Fund Investors who will join the Fund after the IPO launch will have to use the Exchange to purchase the shares instead. In this first iteration, VEMEX is a traditional, teller based securities trading exchange. There's a quite detailed page explaining in detail how it works, possible fees and so on. This version of VEMEX is based on a Google Spreadsheet available at this location. Illustrated usage examples about how to use the exchange to setup orders are provided in the draft thread, at this post. In case of difficulties, please feel free to EvE-Mail me and ask about your issue. 5. Business Plan Overview The Funds Manager will perform a number of activities, namely: - Invest in fully collateralized loans and bonds (Easy Fund only). - Buy and hold and then sell the various Funds underlying commodities (long term strategy). - Station trade the various Funds underlying commodities (short term strategy). - Decide if and when to switch from long to short term strategy or when use a mix of the two. The short term strategy will be mostly used during downturns of the markets (see summer). As a safety precaution, lower profits will be chosen over overwork leading to burnout. - Constantly evaluate the current baskets underlying commodities, in order to take in the better performers and out the worse performers. - Decide one or multiple hedging strategies, including saving some of the profits made in the best seasons in order to release them during the worst ones (this makes the investment curve smoother). - Decide how much capital to keep liquid. This is going to be expecially prevalent on the Easy Fund, because Investors may come and go as they wish and thus a certain guaranteed liquidity has to be held. 6. Management Due to the number of tasks involved at managing the Funds, there will be a management fee, in the meausure of 7 percent on the net capital gains. Full details about this and other aspects about the Funds are available at each Fund's prospectus page. After the reservation phase is over and Investors have sent their money, each of them will receive a corresponding number of shares. From now on, Easy Fund Investors have nothing else to do, while the others may either do nothing (and just take dividends) or trade their shares. 7. Expansion and Exit Strategies In case the funds are performing very well and are close to their caps, they may be expanded. Closed end funds will have additional shares issued and current Investors holdings will be adjusted so that their shares don't get diluted. Notice how this is going to be a very rare event. The Easy Fund is open ended instead, so it may potentially grow forever. It is going to be capped however, the planned total NAV across all the funds is 100B, with a forecast ability to output a 2 percent ROI. In case the Funds have to shut down, the Management will do the possible to liquidate the underlying stock as fast as possible. This may take a while in case of low EvE activity periods of the year. 8. Investor Key Facts - At IPO launch, the shares face value is 1M ISK. This applies to all the funds. - Dividends will be paid monthly, possibly within the end of the first week of the month. The first dividends will be paid on December. - Dividends will be calculated as 90 percent of the profit less the management fee. It is possible that some profits could be held to improve the "low of the year" months performance. - VAHFT may force buyback of shares at their nominal value (in example, in case of Funds shutdown or downsizing). If possible buybacks will be notified a month in advance. Buybacks will be spread across all the Investors of the affected Fund. - There is a grand total NAV cap currently set at 100B. The closed end Funds total NAV cap is currently set at 60B, leaving 40B for the Easy Fund. Depending on the IPO success, these caps may be altered but the 100B grand total cap is here to stay. At first, Market Makers will be limited to 40B (of the closed end Funds, the only available to them). - All the IPO launch shares incur in no fee whatsoever and they will not need to do anything on the exchange at all. Only post launch activities will and usually only in case of sales. - Easy Fund Investors may simply redeem their shares, they don't have a secondary market. They may also trade their shares out of the exchange but then they will have to notify VAHFT about that, otherwise the old shareholder will still receive the dividends. In case of private trading, the former share holder is meant to give a pro-rated dividend to the new share holder. In no circumstance VAHFT or VEMEX will disburse missing dividends. - Closed end Fund Investors may not just redeem shares. Like for stocks trading, they have to find a buyer on the exchange. VAHFT provides a "bailout" emergency mechanism so that even closed end Fund Investors may directly sell their shares back to VAHFT itself, but with a fixed penalty of 8 percent. Added to the exchange fee, this easily becomes 10 percent. - The ability to short sell is only available to closed end Funds. VAHFT may decide at their sole discretion to stop accepting short sell orders (they require additional liquidity). Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vaerah Vahrokha Vahrokh Consulting 1940	Posted - 2012.10.21 18:21:00 - [3] - Quote - Only the current owner of a share receives the full dividend. Therefore it's advised to sell shares near the end of the month. This includes Easy Fund Investors who want to redeem their shares. - In case of large redeeming operations, VAHFT reserve the undisputable right to partially liquidate Investors ASAP and the remaining part as stock is liquidated. This issue will be greatly reduced in case the Investor contacts the Management (Vaerah Vahrokha, please always use EvE Mail so to have written records) in advance. Two weeks would be the optimum. 9. Market Makers Only at IPO launch and at expansions, large Investors may choose to be a Market Maker. Market Makers have unique features and limitations: - They will only pay 96 percent of face value, that is 0.96M per share. This is a potential 400M profit - fees just by flipping those shares on the secondary market. - They must tell about their will to be Market Maker at reservation phase and no later. - They only belong to the closed end funds, since there's no market to make in the Easy Fund. - Minimum shares block: 10B in the preferred fund(s). It's possible to spread those 10B across multiple close ended funds. - They cannot emergency redeem shares for 3 months. They have to tell Vaerah Vahrokha about their intention to bail out well in advance, since taking away their large investment will cause liquidity issues on the Fund(s). 10. Significant Risks No investment is without risks. Please don't invest more than you may affort do lose. Past performance is not indicative of future results. A list of potential investment risks is provided at the end of each Fund Prospectus. Besides the above list, there are others: - Risk of scam. The Fund Manager strives to be as honest as humanly possible. Trust is earned, not given. The Fund Manager knows it and accepts Investors may have their doubts. - Risk of injury: in case of non disabling disease / sickness / trauma, the The Fund Manager will try resume the Funds operation ASAP. - External causes: in case of debilitating technical issues or any kind of game stopping issues, The Fund Manager will try resume the Funds operation ASAP. - Risk of death: this IPO is an extremely complex project. I don't know anybody in RL who could take over or even who could manage how to liquidate everything. Therefore in case of death the invested money will be probably lost or partially lost. 11. Reservations As anticipated in another post, no shares reservations will be accepted before a post of mine will state that the reservations are open. Such post should appear at 2012-10-21 9pm EvE time. Reservations will work on a first come, first served basis up to the stated caps. Investors indicating their interest past those caps have been reached have still chances. In fact if some Investor will not send ISK within 3 days after the reservations are over or if a cap is modified then they'll be the next in line. 12. Delegations It's possible to name a Delegate to reserve your shares in your place. This is expecially useful in case you cannot participate to the reservations. Both the Delegate and the Investor have to post about their intention. During the reservations, the Delegate will have to specify the exact portfolio else his reservation will be void. 13. Purchase Details The IPO will work as follows: 1) A specific message posted as described at chapter 11. Reservations will begin the reservation phase. 2) Once the reservation phase is over (might take some days) a second message will state how the reservations are over. However. if the Funds are still not capped, perspective Investors will still be able to place reservations. The message is only to remind everybody that there are 3 (three) days left to send ISK. After those 3 days, their reservation will automatically be void and whever wants in will be free to invest in their place. Please feel free to ask for any clarification. Most of the answers are probably covered by the draft discussion thread. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Val'Dore PlanetCorp InterStellar 55	Posted - 2012.10.21 18:41:00 - [4] - Quote Reservations are open to Corporations as well as Individuals?
Irken Slushk G-Force Developments 3	Posted - 2012.10.21 19:03:00 - [5] - Quote Posting to state that Daniel Borealis will be my delegate for 10bn isk worth of shares in the t2 basket as a market maker.
Vargan Armer The Hatchery Team Liquid 7	Posted - 2012.10.21 19:04:00 - [6] - Quote Just to make certain, you are going to be my delagate Vaerah?
Theangryhobo EntroPrelatial Industria EntroPraetorian Aegis 110	Posted - 2012.10.21 19:04:00 - [7] - Quote Interested in investing. Is there a minimum investment? I know shares are 1 mil a piece, but what is the minimum amount one must purchase? www.minerbumping.com
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 19:04:00 - [8] - Quote Val'Dore wrote: Reservations are open to Corporations as well as Individuals? Yes, you have to specify the name and ticker. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 19:07:00 - [9] - Quote Vargan Armer wrote: Just to make certain, you are going to be my delagate Vaerah? Here's the official and closed list of the people I will act as delegate for. Samroski => 10b equally across all the 4 closed funds i.e. 2.5b each. Vargan Armer => 250m on the mineral fund and 250m on the T2 fund Grendell => 20b on open end fund Nanatoa => 10B spread evenly across the first four funds, as a market maker. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vargan Armer The Hatchery Team Liquid 7	Posted - 2012.10.21 19:08:00 - [10] - Quote Thanks Vaerah :D
Daniel Borealis Paradox Collective Choke Point 0	Posted - 2012.10.21 19:08:00 - [11] - Quote Irken Slushk wrote: Posting to state that Daniel Borealis will be my delegate for 10bn isk worth of shares in the t2 basket as a market maker. Confirming my intention to act as a delegate in the upcoming reservations
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 19:18:00 - [12] - Quote Daniel Borealis wrote: Irken Slushk wrote: Posting to state that Daniel Borealis will be my delegate for 10bn isk worth of shares in the t2 basket as a market maker. Confirming my intention to act as a delegate in the upcoming reservations Sure, please remember you will have to repeat this same statement after the reservations open. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 20:56:00 - [13] - Quote Notice: in some minutes I am going to start reservations based on the in game clock, I don't know if the forums clock is perfectly synchronized or not. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 21:00:00 - [14] - Quote *** * * RESERVATIONS ARE OPEN! * * *** Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Elegbara White Wolf Enterprises Harmonious Ascent 110	Posted - 2012.10.21 21:00:00 - [15] - Quote I'd like to reserve 3 billions ISK split as following: 1 billion to T2 fund 0.5 billions to minerals fund 0.5 billions to ice fund 0.5 billions to PI fund 0.5 billions to eazy fund Thanks.
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 21:01:00 - [16] - Quote I hereby reserve 10B worth of shares for my corporation Vahrokh Consulting [VAHCO] to be evenly spread across the funds. In case they don't fit, I'll accept to fill eventual gaps. Moreover I have been made Delegate for the following Investors: Samroski => 10b equally across all the 4 closed funds i.e. 2.5b each. Reference. Vargan Armer => 250m on the mineral fund and 250m on the T2 fund. Reference. Grendell => 20b on open end fund. Reference. Nanatoa => 10B spread evenly across the first four funds, as a market maker. Reference. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Val'Dore PlanetCorp InterStellar 55	Posted - 2012.10.21 21:01:00 - [17] - Quote Myself on behalf of PlanetCorp InterStellar [PCIS] for 500 million ISK. Easy Fund.
Jadun Hadun Rocket Zulu Mover 0	Posted - 2012.10.21 21:07:00 - [18] - Quote yo ho all i would like to reserve 10 billion in the easy fund. jadun
Huttan Funaila Caldari Provisions Caldari State 26	Posted - 2012.10.21 21:08:00 - [19] - Quote I'd like to reserve: 250 million to T2 fund 250 million to minerals fund 250 million to ice fund 250 million to PI fund 250 million to eazy fund
Mortimer Montague Montague Investments 1	Posted - 2012.10.21 21:14:00 - [20] - Quote I'd like to reserve 5 billion spread across the funds.
De Guillaume Grim Determination Nulli Secunda 286	Posted - 2012.10.21 21:17:00 - [21] - Quote reserve 10b on all 4 Has you ever went so far as chose to go even use want to look more like do?
Daniel Borealis Paradox Collective Choke Point 0	Posted - 2012.10.21 21:22:00 - [22] - Quote Reserve 10bn on t2 basket fund for Irken Slushk - he will reconfirm later, this character is acting as his delegate.
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 21:33:00 - [23] - Quote For those asking about "limits". There's none, I'd love to have small Investors to have a chance at one investment for once! Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Towaoc Applied Technologies Inc Agents of Fortune 9	Posted - 2012.10.21 21:39:00 - [24] - Quote I'd like to reserve: Mineral fund, 1 billion T2 fund, 1 billion Ice fund, 1 billion PI fund, 1 billion
V'en Hedion University Amarr Empire 0	Posted - 2012.10.21 21:42:00 - [25] - Quote Vaerah Vahrokha wrote: For those asking about "limits". There's none, I'd love to have small Investors to have a chance at one investment for once! How small are we talking? Could I do 20mil on MINBSK?
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 21:52:00 - [26] - Quote V'en wrote: Vaerah Vahrokha wrote: For those asking about "limits". There's none, I'd love to have small Investors to have a chance at one investment for once! How small are we talking? Could I do 20mil on MINBSK? Sure! Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 21:56:00 - [27] - Quote This investment has been added to the searchable Public Investments Records. It's available by directly going to this location. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 21:58:00 - [28] - Quote De Guillaume wrote: reserve 10b on all 4 10B per fund or 10B spread over the 4 funds? Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Theangryhobo EntroPrelatial Industria EntroPraetorian Aegis 110	Posted - 2012.10.21 22:08:00 - [29] - Quote I would like to put 1 bil on T2BSK. When do we send ISK, and do we send to you? www.minerbumping.com
Vaerah Vahrokha Vahrokh Consulting 1941	Posted - 2012.10.21 22:24:00 - [30] - Quote Theangryhobo wrote: I would like to put 1 bil on T2BSK. When do we send ISK, and do we send to you? Not now please, I have to let people reserve their shares, see whether to expand the cap on the closed end funds (in case the Easy Fund does not completely fill) and so on. As stated in the prospectus at point 13, people will be able to reserve (no guarantee to be able and take them!) till I'll post a reservation closure statement. The statement will also contain instructions about what corporation to send ISK to. Message to everybody: Please do not send ISK to this character! Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel

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