2005 5 17 2005 85
................................................................................................................... 5-2
................................................................................................................... 5-2
....................................................................................................... 5-7
..................................................................................................... 5-14
................................................................................................. 5-18
..................................................................................................... 5-23
............................................................................................. 5-27
................................................................................. 5-28
..................................................................................................... 5-34
......................................................................... 5-38
..................................................................................................... 5-38
..................................................................................................... 5-43
............................................................................................. 5-44
......................................................................................... 5-48
......................................................................................... 5-49
......................................................................................... 5-51
............................................................................................. 5-52
......................................................................................................... 5-55
................................................................................. 5-57
..................................................................................... 5-58
........................................................................... 5-70
........................................................................... 5-78
............................................................................................... 5-80
............................................................... 5-81
................................................................... 5-83
....................................................................................................... 5-83
-5-1-
-5-2-
2004 7 1
2004 7 1
2004 7 1
-5-3-
-5-4-
10%
-5-5-
T
T n T T n
-5-6-
88 37
88 37
2003 4 18
021-68604999
1
67% 33%
2003
1997
Stewart Edgar Ivory & Sime
Fiduciary HD F&C 1997
Euroequipement S.A. 2003
2003
-5-7-
Marc Bayot INVESTPROTECT
Dennis Ziengs / RaboBank Group / 2002
2003 4
2004 5
-5-8-
BBCC Tech & Trade Int’l Inc
Dalma Investment Future Electronics 2003
2003
2003
12
CFA 1992 2001 MBA 2003
1968 CFA Donier International Holding, Ltd.
Robert W. Baird Co. 2003 7 2004 3 2004 4
1.
-5-9-
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
1.
2.
1
2
3
4
5
6
7
8
9
-5-10-
10
11
12
13 10%
14 10
15
16
3.
1
2
3
4
5
6
7
8
9
10
-5-11-
11
12
13
14
4.
1
2
3
4
1.
1
2
3
4
5
6
-5-12-
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4.
1
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1
1912 2 5
1998 24
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010 66594853
1981 1996 10 1998 10
2003 3
2004 8
1952 5 2004 8 2002 9 2004 7 1994 7 2002 8 1994 7 1986 1988 1977 1999
-5-15-
1955 4 1980 1990 1993 2000 2004 8
1997 2001 6
2005 1 5 4 180 23
1.
1
-5-16-
2
3
2.
3.
1998
-5-17-
4.
1.
88 37
88 37
2003 4 18
2003 48
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202 11
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2005 85
3
-5-23-
1. 1.00
2.
1.2%
M 500 1000 /
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3.
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3.
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3
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M
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4
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5
6
1
2 T 1 T 2
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1
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1 1 12 31
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25
2
25
1
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A
B
C
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2
T 1.100 1.200 100 0.3%
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1000 1000 1000
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70 -95% 5
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80 20
2
1
2
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1
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1
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5
6
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8
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11
-5-53-
12
13
14
15
16
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1
2
3
4
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6
7
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1
2
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5
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-5-59-
6
7
8
9
10
11
12
13
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2.2
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3
-5-60-
4
5
6
7
8
9
10
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12
13
14
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16
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-5-61-
19
20
21
22
23
24
25
26
3.1
1
2
3
4
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3.2
-5-62-
1
2
3
4
5
6
7
8
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11
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15 15
-5-63-
16
17
18
19
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1.
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2.
1
2
3
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5
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3.
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1
2
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;
5.
1
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6.
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7.
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2.2
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3.1
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1
2
3
4
5
6
7
3.2
1 2 2
2
-5-73-
3.3
1
2
3
4
3.4
1
2
3
4
5
3.5
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3.6
3.7
4.1
1
2
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4.2
1
2
4.3
1 5 45 10 40 60 60 90
2 5 10 15
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1
2
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1.
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3.
-5-78-
http://www.hftfund.com
info@hftfund.com
E-MAIL
CALL-CENTER
7 24
9 00 11 30 13 00 17 30
15 30 17 30
021-38784858
021-50479997
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1.
1
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3 30
4
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27 23
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www.hftfund.com
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