The Investment: Units in the Asymmetric Opportunities Fund (ABN 504 952 234 50)
Investment Objective: The objective of the fund is to generate long term out-performance against the S&P/ASX Small Industrials Accumulation Index on a rolling 5-year basis
Investment Strategy: The fund will typically invest in a portfolio of listed securities primarily (but not exclusively) outside the S&P/ASX 100
Trustee: Asymmetric Asset Management Pty Ltd (ACN 630 470 512) AFSL No: 536830
Investment Manager: Asymmetric Asset Management Pty Ltd (ACN 630 470 512) AFSL No: 536830
Custodian: Certane CT Pty Ltd (Certane Corporate Trust)
Fund Administrator/ Accounting Services: William Buck Managed Funds Administration (SA) Pty Ltd
Distributions: The fund will distribute any profits at least annually (or more frequently at the discretion of the Manager). Distributions will automatically be reinvested into more units unless unit holders request otherwise
Benchmark: S&P/ASX Small Industrials Accumulation Index
Inception Date: 1 January 2019
Suggested investment time frame: 5+ years
Minimum investment: $100,000 (or less at the discretion of the trustee)
Applications (Subscription Day): Monthly, first business day of the month
Redemptions: Monthly, last business day of the month
Unit Pricing: Monthly
Management fee: 1% pa (excluding GST, net of RITC) of the net asset value of the fund, calculated and paid monthly
Performance Fee: 20% (excluding GST, net of RITC) of the total return of the fund (after management fees and fund costs but before performance fees) above the benchmark return in a performance period subject to any previous underperformance being recovered, calculated monthy and paid semi-annually
High Water Mark: Any underperformance against benchmark must first be fully recouped before any performance fee accrues
Entry/Exit Fee: Nil
Buy/Sell Spread: a 0.3% fee applies to each investment in and withdrawal from the fund (i.e. a buy/sell spread of 0.6% to the net asset value unit price)
Expense Recovery: The trustee may recover certain costs associated with operating the Fund that are reasonably and properly incurred. These expenses include but are not limited to the fees payable to the Manager, costs associated with fund administration, accounting, audit, tax administration, and reporting