The objective of the Fund Series is to provide investors with:

  • exposure to a portfolio of investments in small and mid-market private investment funds and privately held companies predominantly focused in the US
  • capital growth over a five to ten-year investment horizon.

The Responsible Entity believes private investments offer superior long-term returns relative to public market asset classes such as listed equities and within the private investment universe, smaller and more nimble private investment funds outperform their larger counterparts.

The Series employs an investment strategy which focuses on small and mid-market private investment funds with the following characteristics:

  • Consistent focus on niche investment opportunities – funds which have expertise in specific industries, geographic regions and/or investment strategies typically overlooked by larger funds. A consistent investment strategy allows for specialised expertise to grow over time, enhancing long-term performance.
  • Operating businesses with existing and proven cash flows – funds which focus on assets with existing cash flow and identified potential for growth.
  • Appropriate size –  funds which only seek to manage pools of capital sized appropriately for the opportunities on which they focus.
  • Prudent and limited use of leverage –  funds which seek to generate returns through investments in high quality private businesses with limited debt, rather than financial engineering through the use of leverage.
  • A hands-on approach – funds which ensure all aspects of the investment process are managed by senior funds executives who are deeply involved in the operations of the underlying businesses in which they invest.

Risks

Like all investments, an investment in the Fund carries risks which may result in the loss of income or principal invested. In addition to the general risks of investing, specific risks associated with investing in the Funds include, but are not limited to, private investments risk, liquidity risk and foreign exchange risk. For further information about the risks of investing in the product see Section 10 of the PDS for Fund I and Section 9 of the PDS for Fund II and Section 4 of the PDS for Fund III.