Australian Equities Extension Fund (Open Daily)
Australian Equities Extension Fund’s (“AEEF” or “the Fund”) objective is to invest substantially all of its assets in the Vinva Australian Equitised Long/Short Fund (“Vinva Fund”), which provides investors with exposure to a portfolio of securities listed on the ASX or derivatives where the underlying securities are listed on the ASX. Vinva Investment Manager Limited (“Vinva IML”) is the responsible entity, manager and issuer of the units of the Vinva Fund.
The Vinva Fund implements a “long/short equity” investment strategy. A long/short equity strategy seeks to generate profit from growth in long positions and falls in prices of short positions. The Vinva Fund’s strategy consists of investing in a core holding of long equities at all times, with some short sales of securities. Derivatives may be used directly or indirectly to increase exposure to specific investments, asset classes or markets, control or manage risks, reduce the cost of obtaining exposure to assets or to exploit opportunities resulting from investments believed to be mispriced.
The investment strategy of the Vinva Fund is described as “Equitised Long-Short”. The strategy consists of investing in a core exposure of ‘long’ securities and derivative instruments offset at all times with some ‘short’ sales of securities. The universe of investible securities is typically the 200 largest listed companies on the ASX.
Units will be issued at a price equal to the net asset value (“NAV”) of the Fund adjusted for any transaction costs (also described as Buy Spread), divided by the number of Units on issue at the relevant time. At the date of this PDS, the Buy Spread is 0.5% (or 50 basis points).
The price of Units will vary as the value of the assets in the Fund rises or falls. Units issued on the First Allotment Date will be issued at a price of $1.00.
The minimum initial investment is $5,000 and thereafter in $1,000 increments.
The minimum suggested time frame for investment in the Fund is 7 - 10 years.
What are the benefits of investing in the Fund?
• The Fund provides indirect exposure to a core holding of Australian equities listed on the
Australian Securities Exchange Limited (“ASX”) and derivatives where the underlying securities
are listed on the ASX.
• A retail investor can get indirect exposure to the Vinva Fund for a minimum investment of
$5,000 in the Fund. (The Vinva Fund requires a minimum initial investment of $500,000.)
• The Vinva Fund is professionally managed by Vinva Investment Management Limited
ABN 38 142 528 783 (“Vinva IML”), a specialist Australian Equities manager.
• The strategy is a good diversifier to Australian equity strategies that are tilted to value
and quality investment styles.
This information is of a general nature only and has been prepared without taking into account your objectives, financial situation and needs. Before acting on this information you should consider its appropriateness having regard to your circumstances. You should obtain and consider the product disclosure statement dated 1 September 2016 before making a decision to invest in the fund.