Commercial Finance

Tengri Partners Working Capital Fund (USD)

To generate stable returns through investments in private credit instruments focused on working capital financing and short-term lending to Kazakhstan-based businesses with strong cash flows and proven track records.

NAV
$124.85
AUM
$78.5 million
YTD Return
+9.2%
Risk Rating
Medium-High

Investment Strategy

Lorem ipsum dolor sit amet, consectetur adipiscing elit. The fund employs a disciplined credit analysis approach, focusing on secured lending with typical loan-to-value ratios of 60-70%. Portfolio diversification across industries and borrowers minimizes concentration risk. Average loan duration ranges from 6 to 18 months with quarterly interest payments.

Performance

YTD
+9.2%
1 Year
+11.8%
3 Years
N/A
5 Years
N/A
Since Inception
+24.9%

Past performance is not indicative of future results. Performance shown is net of fees.

Asset Allocation

Trade Finance40%
Working Capital Loans35%
Invoice Financing15%
Cash & Reserves10%

Top 10 Holdings

SecuritySectorWeight
Retailer KZ Trade LineConsumer Goods8.5%
AgriSupply Working CapitalAgriculture7.8%
Construction Materials FinanceIndustrial7.2%
Food Import Trade FacilityFMCG6.9%
Wholesale Distribution LoanDistribution6.5%
Manufacturing Payables FinanceManufacturing6.1%
Logistics Working CapitalTransportation5.8%
Import-Export Credit LineTrade5.4%
Pharma Inventory FinancingHealthcare5.2%
Technology Vendor FinancingTechnology4.9%

Holdings are subject to change. Data as of December 13, 2025.

Risk Metrics

Sharpe Ratio
1.35
Std. Deviation
5.8%
Beta
0.45
Alpha
4.2%

Risk metrics calculated over 3-year period. Sharpe ratio and Alpha calculated against benchmark.

Fund Information

Currency
USD ($)
Inception Date
March 15, 2022
Minimum Investment
$10,000
Management Fee
2.5% p.a.
Performance Fee
20% above 8% hurdle
Benchmark
USD LIBOR + 4%

Service Providers

Fund Administrator
Tengri Partners Asset Management
Custodian
ForteBank JSC
Auditor
Ernst & Young
Legal Counsel
Dentons
Subscription Frequency
Monthly
Redemption
Quarterly with 30 days notice
Lock-up Period
12 months
Expected Return
10-12% p.a.
Target Duration
12-18 months

Documents

Important Information

The value of investments and any income from them can go down as well as up and you may not get back the amount originally invested. Past performance is not a reliable indicator of future results. This material is for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities. Please read the fund prospectus and KIID before investing.

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