The asset management industry is currently experiencing dramatic changes. Many traditional firms have been bought out and amalgamated into huge groups. With heavy emphasis on distribution, they have little regard for traditional relationships. At the same time a range of smaller firms has been started, many by ex-proprietary traders of large investment banks. In terms of management style, there is also increasing polarisation between those 'large' firms, which offer "passive", index-tracking management and those which opt for an active style, often based on a highly leveraged investment programme. The management of ACP believes that this environment generates an opportunity for a small, highly experienced management team to operate successfully focusing on the management of funds and portfolios with an absolute-return objective. The key to a successful fund management business is solid performance combined with first-class, personalised service. Both service and performance demand experience and talent, two factors in the investment process which tends to be sacrificed, as corporations grow ever larger.

ACP is committed to long-term relationships in order to be able to respond effectively to clients' needs. The structure of the company is designed to allow other experienced professionals to join and expand the business over time.

It is the mission of ACP to create a first-class, active asset management firm, based on a highly disciplined investment process that combines experience with advanced investment techniques.

June 2006 marks the launch of The Reservoir Global Water Utility Fund, a Luxembourg SICAV, authorized as a dedicated sub-fund of Aleph SICAV. The Fund invests primarily in stocks of global water utility companies. Bonds and convertibles issued by such water utility companies are also permitted. The exposure will be hedged from time-to-time against market fluctuations. The Fund may also invest, to a limited degree, in private equities in the water sector.

In January 2002, ACP launched its first fund in conjunction with Laing & Cruickshank Investment Management. The fund was an absolute return fund, called the Zenith Optimal Return Fund (ZOR). The fund was authorised by the Central Bank of Ireland as a pan-European UCITS and had a daily quotation on the Irish Stock Exchange.

In line with previous experience, the performance of the ZOR Fund has been excellent in one of the most difficult market conditions for the past 30 years. On its first year anniversary, the ZOR Fund was ranked No.1 by Lipper (a Reuters Company) in its particular fund universe.

Each of ACP's asset managers have spent decades in the financial markets and posses the experience, knowledge, discipline and talent necessary to manage their positions in bull markets as well as bear markets.

ACP's Hedge Fund Investment Process 

The investment advisory group is growing and is currently concentrating on European business investments, with an emphasis on energy, the environment and aviation.  In this initial stage, ACP is aided by their joint venture with Anchorage Venture Lab (AVL). AVL is a Luxembourg-based private equity firm which was formed in 2004 with an initial focus on direct investments in Italy and the United Kingdom.  ACP and AVL continue to expand their joint venture presence in the global business community.

The group has also just launched a concentrated effort in developing relationships with Brazilian multinationals and businesses in order to take advantage of ACP's in house expertise on the Brazilian markets.In 2005, ACP's investment advisory division will concentrate on creating strategic alliances with institutional partners in major financial centers.

The aim is to create self-perpetuating investment opportunities by leveraging on our joint specific local product expertise.  ACP will continue to act as an investment catalyst, creating value and forging new investment opportunities.