Global Fundamental Equities Fund (Closed)
Global Fundamental Equities Fund’s (“GFEF” or “the Fund”) objective is to invest substantially all of its assets in Maverick Long Ltd (“Maverick”), which invests in global equities with a focus on developed market equities and US domiciled firms. Maverick attempts to provide investors with exposure to a portfolio of long investments intended to achieve favourable performance in addition to preserving and growing capital relative to the market.
Specialised Private Capital Limited (“SPC”) is the Fund’s responsible entity, manager and the issuer of units in the Fund.
Maverick operates as a private investment fund and invests substantially all of its assets in shares of the Maverick Long Fund, Ltd (the “Master Fund”). Both Maverick and the Master Fund are Cayman Islands exempted companies. The Master Fund attempts to invest approximately 75% of its assets in the United States and the balance of the portfolio is invested internationally. The Master Fund portfolio may hold 50 to 75 companies.
Maverick Capital, Ltd, a Texas limited partnership, is the investment manager of Maverick.
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. Currently, the Buy/Sell Spread is 0.10% (or 10 basis points).
Applications can be requested on a monthly basis.
Withdrawals can be requested monthly, subject to 61 days’ prior written notice.
Withdrawal request must be received at least 61 days prior to the end of each month in order for it to be considered at that month end. Withdrawal requests received after that time will be considered at the end of the following month.
Withdrawal requests received before 12.00 pm on a business day are taken to be received on that day. Withdrawal requests received after 12.00 pm on a business day, or on a non-business day, will be taken to be received on the following business day.
Under the Fund’s Constitution SPC may waive the requirement for 61 days prior written notice in respect of redemption requests. SPC may exercise this right for the purpose netting–off payments in relation to redemption requests against application money received in relation to new investments.
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 the Master Fund, which invests in a diversified portfolio of long investments intended to achieve favourable performance over the medium to long term relative to the MSCI World Daily Total Return Index (USD with dividends reinvested) (“NDDUWI”).
An investor can get indirect exposure to Maverick and the underlying Master Fund’s portfolio of long investments for a minimum investment of $5,000. The minimum initial subscription in Maverick is USD 2,000,000.
The Master Fund is professionally managed by the Master Fund Investment Manager. The Master Fund Investment Manager was organised in 1993 to manage investment fund assets. The Master Fund Investment Manager is registered with the U.S. Securities and Exchange Commission as an investment adviser pursuant to the U.S. Investment Advisers Act of 1940 and is registered with the U.S. Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator pursuant to the U.S. Commodity Exchange Act. The Master Fund Investment Manager serves as the Investment Manager of certain managed accounts, including those of the Maverick Funds and Maverick Select, as well as two funds of funds, Maverick Stable Partners, L.P. and Maverick Stable Fund, Ltd. Since its founding in 1993, the Master Fund Investment Manager has been dedicated to the preservation and growth of its investors’ capital. The Master Fund Investment Manager’s 135 partners and employees are based in Dallas and New York, with research offices in Philadelphia, San Francisco and Taipei. Lee S. Ainslie III, founder of the firm, has served as Portfolio Manager since March 1995.
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.Important Information
Product Disclosure Statement, Information Brochure and Liquidity Management Policy
Global Fundamental Equities Fund (PDS)
Global Fundamental Equities Fund - Information Brochure
Application and Redemption Forms