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Carbyne Absolute Return

Open-Ended Venture Capital Fund

The CARBYNE ABSOLUTE RETURN Fund is a venture capital fund that invests predominantly in target assets, namely direct holdings in privately held companies, funds that invest in privately held companies, credit securities or other assets inherent to the capital structure of companies.

Fund Performance

Carbyne Absolute Return (Venture Capital Fund)

NAV per Share Performance - Share Class Founders (EUR)
Data updated at 07/02/2025 - last valuation date

Performance and Return

1st Trim.2nd Trim.3rd Trim.4th Trim.Year
2024 - 1.000,0000€ 5,18% 1.051,8296€ 14,46% 1.203,8970€ 20,39%
2025 14,00% 1.372,4620€ - - - 14,00%
Performance since the fund launched at 26/08/2024 37,25%
Data updated at 07/02/2025
Risk

The shaded area of the scale above highlights the fund's (share class Founders) risk classification based on the Summary Risk Indicator (ISR). The ISR indicator is a guideline on the level of risk of this product when compared to other products. It shows the likelihood that the product will suffer financial losses in the future due to market fluctuations.

Low Risk High Risk
Potentially lower gains Potentially higher gains
1 2 3 4 5 6 7
Notes

This information concerns the investment fund’s share class Founders managed by Sixty Degrees SGOIC, SA and does not dispense the reading of the respective constitutive documents: Fund prospectus and fundamental information for investors (IFI) are available at www.sixty-degrees.com without any burdens or charges.

 

The values ​​refer to past recorded returns that do not consider income tax on redemptions (net of management fees and depositary), so they do not constitute any guarantee of future returns since the value of the investment may increase or decrease depending on the funds level of risk at that time. Sixty Degrees warns that, as a rule, greater profitability is associated with a higher level of risk. Profitability would only be obtained if the investment was made during the entire reference period. The value of 1 fund share may increase or decrease depending on the valuation of the assets that make up the fund holdings, which may imply loss of invested capital.

General information

Founders Class Share Class I Share Class K
Inception date 26/08/2024 26/08/2024 26/08/2024
ISIN PTSXYUHM0006 PTSXYVHM0005 PTSXYWHM0004
Bloomberg ticker - - -
Fund type Venture capital fund
Investment region Global
Currency EUR
Income policy Capitalization
Grace period 3 years
Recommended holding period 10 years
Depositary bank Caixa Geral de Depósitos, S.A.

Fees and settlement cycles

Founders Class Share Class I Share Class K
Subscription fee 0.00% 0.00% 2.00%
Redemption fee Not applicable
Transfer fee Not applicable
Management fee 0.30% p.a. 1.50% p.a. 2.00% p.a.
Performance fee 10% above a positive annual return of 8% 15% above a positive annual return of 8% 20% above a positive annual return of 8%
Depositary fee 0.15% p.a. or 0.13% p.a. AUM's over EUR 20 million
Supervision rate 0,0012% ao mês (mín. 100€ e max. 10.000€)
Stamp duty de Research: 0.0125%, charged quarterly on the Fund's global net assets
Research costs Not applicable
Settlement (subscriptions) 2 business days after monthly valuation
Settlement (redemptions) 180 calendar days

Investment and valuation

Founders Class Share Class I Share Class K
Pricing type Unknown (D+1)
Cut-off time 2:00pm
Minimum investment amount € 100,000 € 1,000,000 € 100,000
Subsequent subscriptions (min) € 1,000 € 25,000 € 10,000
Minimum maintenance amount Not applicable
Valuation date 07/02/2025
NAV per share 1.372,462€ 1.014,8485€ 1.122,448€

Refund Conditions and Applicable Taxation

The description of the tax regime in the sphere of its participants below does not exempt the consultation of current legislation on the matter nor does it constitute a guarantee that such information will remain unchanged.

  1. Individuals
    1. Residents (i.e., holders of participation units or shares residing in Portuguese territory)
      • Income obtained outside the scope of a commercial, industrial or agricultural activity
        • Income paid or made available to the respective holders, whether by distribution or redemption operation, is subject to definitive withholding at source at a rate of 10%, without prejudice to the option of aggregation, in which case the withheld tax has the nature of payment on account. If they opt for aggregation, holders are entitled to deduct 50% of dividend income.
        • The positive balance between capital gains and losses resulting from the sale of participation units is taxed at a rate of 10%.
        • Income obtained from the onerous transfer of participation units is subject to autonomous taxation, at a rate of 28%, on the positive difference between the capital gains and losses during the calculation period.
      • Income obtained as part of a commercial, industrial or agricultural activity
        • Income paid or made available to the respective holders, whether by distribution or through a redemption operation, forms part of the Category B income of the respective holder, being subject to withholding tax at a rate of 10%. The tax withheld is a payment on account and is deductible from the tax calculated at the end.
    2. Non-residents
      • Income paid or made available to the respective holders, whether by distribution or through a redemption operation, is exempt from IRS unless the holder is resident in a country, territory or region subject to a clearly more favorable tax regime, included in a list approved by decree of the Minister of Finance, in which case the income will be subject to definitive withholding tax at the rate of 10%.
  2. Legal entities
    1. Residents
      • Income paid or made available to the respective holders, whether by distribution or through a redemption operation, is part of the tax result for the year and is taxed under general terms, with withholding at source at a rate of 10%. The tax withheld is a payment on account and is deductible from the tax calculated at the end.
      • Capital gains are part of the tax result for the year and are taxed under general terms.
    2. Non-residents without permanent establishment
      • Income paid or made available to the respective holders, whether by distribution or redemption operation, is exempt from IRPJ, except when obtained by:
        • entities resident in countries, territories or regions subject to a clearly more favorable tax regime, included in a list approved by order of the Minister of Finance and
        • entities are held, directly or indirectly, in more than 25% by resident entities, in which case they will be subject to withholding tax at the definitive rate of 10%.
      • Capital gains are exempt from taxation under art. 27 of the Tax Benefits Statute. For holders who do not benefit from such exemption, capital gains will be taxed at a rate of 10%.

Performance Scenarios:

This table shows the amount you can receive over the next 10 years (recommended holding period), in different scenarios, assuming you invest €10,000.

The scenarios presented illustrate how your investment might perform. You can compare them with the scenarios of other products. The scenarios presented are illustrations based on past results and certain assumptions. Markets may evolve very differently in the future. The stress scenario shows what you might receive in an extreme market situation and does not include the situation where the product is not in a position to pay you.

The values shown include all the costs of the product itself.

Sixty Degrees

Segregated portfolio

The CARBYNE ABSOLUTE RETURN is an Open-Ended Venture Capital Alternative Investment Fund, whose assets are exclusively client’s property, segregated from the assets of both Sixty Degrees and the depositary bank.

Depositary Bank and the CMVM

Protecting the client’s assets is a priority for Sixty Degrees. We have selected a robust depositary totally independent from Sixty Degrees. The bank is responsible for keeping/recording, supervising and guaranteeing the fund’s assets in accordance with the law and the fund’s prospectus.

The CARBYNE ABSOLUTE RETURN fund is authorised and supervised by the CMVM (Portuguese Securities Market Commission).

Relevant Information about the Fund