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Firsthand Alternative Energy Fund
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As of March 31, 2008 |
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Total net assets: |
$2.8 million |
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Number of companies: |
29 |
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2007 turnover: |
0% |
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Inception date: |
10/29/07 |
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Ticker symbol: |
ALTEX |
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CUSIP: |
337941827 |
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Sales load: |
None |
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Redemption fee: |
None |
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2007 expense ratio: |
2.10% |
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Average Annual Total Returns vs. Indices |
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As of March 31, 2008 |
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Firsthand Alternative Energy Fund |
S&P 500
Index |
WilderHill
Clean Energy
Index |
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Since inception (10/29/07) |
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Q1 '08 |
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The Fund's performance information assumes reinvestment of all dividends and includes all Fund expenses, but does not reflect the impact of taxes. Performance data quoted represent past performance, which is not a guarantee of future results, and current performance may be lower or higher than the performance quoted. Both the return from and the principal value of an investment in the Fund will fluctuate so that any investor's shares, when redeemed, may be worth more or less than their original cost. |
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Under the Investment Advisory Agreement, the Investment Adviser has agreed to reduce its fees and/or make expense reimbursements so that Firsthand Alternative Energy Fund's total annual operating expenses (with certain exclusions discussed below) are limited to 2.10% of Firsthand Alternative Energy Fund’s average daily net assets up to $200 million, 2.05% of such assets from $200 million to $500 million, 2.00% of such assets from $500 million to $1 billion, and 1.95% of such assets in excess of $1 billion. The Investment Adviser has also agreed to donate a portion of its management fees collected, amounting to 0.20% of the Fund’s average daily net assets, to various non-profit organizations as elected by Fund shareholders. |
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Month-End Performance Update |
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As of May 31, 2008 |
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TOTAL
RETURNS |
AVERAGE ANNUAL TOTAL RETURNS |
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YTD |
Since Inception (10/29/07) |
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Growth of a Hypothetical $10,000 Investment |
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As of March 31, 2008 |
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Chart represents the growth of a hypothetical $10,000 investment from Firsthand Alternative Energy Fund inception date until the end of the quarter indicated. Firsthand Alternative Energy Fund performance assumes reinvestment of all dividends and includes all Firsthand Alternative Energy Fund expenses but does not reflect the impact of taxes. |
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| Top 10 Holdings |
As of March 31, 2008 |
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1. |
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2. |
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3. |
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4. |
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5. |
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6. |
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7. |
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8. |
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9. |
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10. |
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Top 10 holdings represent 35.20% of net assets.
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Firsthand includes only public companies in listings of top 10 holdings; other portfolio assets such as cash, treasuries, options, warrants, and investments in private companies are not presented in the top 10 list. |
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The information provided should not be considered a recommendation to purchase or sell a particular security and there is no assurance that, as of the date of publication, the securities purchased remain in the Fund's portfolio or that securities sold have not been repurchased. Also, you should note that the securities discussed, even if they have been purchased by the Fund, do not represent the Fund's entire portfolio and, in the aggregate, may represent only a small percentage of the Fund's holdings. There can be no assurance that any Firsthand Fund will buy, sell, or hold any particular security after the date referred to in the discussion. |
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| Holdings by Market Cap |
As of March 31, 2008 |
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Giant Cap (>$25B) |
10.5% |
Large Cap ($5-$25B) |
18.7% |
Mid Cap ($1-$5B) |
13.8% |
Small Cap ($250M-$1B) |
17.7% |
Micro Cap (<$250M) |
4.1% |
Net Cash |
35.2% |
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| Holdings by Country |
As of March 31, 2008 |
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United States |
50.0% |
Japan |
11.7% |
Germany |
11.6% |
Cayman Islands |
6.3% |
Spain |
5.0% |
Taiwan |
3.9% |
Netherlands |
3.7% |
Denmark |
3.7% |
Other |
2.1% |
Norway |
2.0% |
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Holdings by Industry |
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As of March 31, 2008 |
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Renewable Energy |
36.5% |
Energy Efficiency |
11.2% |
Other Electronics |
7.3% |
Advanced Materials |
5.7% |
Semiconductor Equipment |
1.9% |
Battery |
1.3% |
Net Cash |
35.2% |
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The holdings by industry are presented to illustrate examples of the industries in which the Fund has bought securities and may not be representative of the Fund's current or future industry investments. |
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What is the Fund's investment strategy? |
The Fund invests in alternative energy and energy technology companies, both U.S. and international. Alternative energy includes solar, hydrogen, wind, geothermal, hydroelectric, tidal, biofuel, and biomass. Because there are no market capitalization restrictions on the Fund's investments, the Fund may purchase stocks of any capitalization. |
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What sets the Fund apart from other Firsthand Funds?
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Firsthand Alternative Energy Fund is the only Firsthand Fund that invests a significant portion of its assets in alternative energy and related technologies. |
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Firsthand Alternative Energy Fund is managed by Kevin Landis. |
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Kevin Landis is Firsthand's President and Chief Investment Officer. Prior to co-founding Firsthand Capital Management, Kevin worked in the technology industry, where he developed a vision of combining industry insight with strong fundamental analysis, a discipline he utilizes in the management of Firsthand Alternative Energy Fund.
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Firsthand Alternative Energy Fund had no distributions in 2007. |
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The Standard & Poor’s 500 Index (S&P 500) representd an unmanaged, broad-based basket of stocks and is typically used as a benchmarks for overall market performance. The WilderHill Clean Energy Index is a market-weighted index of 40 companies in the cleaner fuel, energy conversion, energy storage, greener utilities, power delivery and conservation, and renewable energy harvesting sectors. The indices’ performance figures assume the reinvestment of all dividends (except where noted), but do not reflect the impact of taxes. Additionally, because an investor cannot invest in an index directly, indices’ performance figures do not reflect the expenses associated with the management of an actual mutual fund portfolio. |
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Firsthand Alternative Energy Fund is subject to greater risk than more diversified funds because of its investments in fewer securities and because of its concentration of investments in the alternative energy and energy technology sectors. Specific risks associated with these investments could cause the Fund's share price to fluctuate dramatically. The Fund's investments in small-cap companies present greater risk than investments in larger companies. The Fund invests in several industries within the alternative energy and energy technology sectors and the relative weightings of these industries in the Fund's portfolio may change at any time. Equity investing involves risks, including the potential loss of the principal amount invested. Firsthand Funds are subject to greater risk than more diversified funds. |
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