Patient Capital Option
The Patient Capital Option’s Objective
This investment option aims to offer investors a portfolio of assets with longer term capital growth in liquid and/or some illiquid assets including in listed companies, corporate debt and pre-IPO companies and unlisted companies that are evolving in growth.
Investment Option's Features
- Active pool of income producing assets;
- Daily unit pricing;
- Access a regular investment plan and/or compounding reinvested distributions;
- Investment specialist(s);
- Some dividend income, and
- Competitive fees.
Investors should be seeking a long term growth opportunity in listed and private assets providing some level of liquidity and capital preservation.
Investors may make an investment for a timeframe that suits them subject to the terms of our PDS.
This investment option intends to invest in the following asset allocations:
|Private Market Assets||0%||70%||63%|
|Cash and equivalents||10%||35%||10%|
|Derivatives (hedging only)||0%||0%||0%|
Millinium will identify listed and unlisted opportunities to invest in equity and/or debt securities. Millinium may also acquire interests in private equity funds on the secondary market. The types of opportunities we will consider are: expansion/growth activities: distressed debt; pre-IPO investments companies and institutions that seek additional capital to fund further growth and/or revenue either for acquisition or expansion. Typically, they should have a proven track record, experienced management team, positive operating cash-flow and identifiable growth prospects. The terms of each investment will differ due to the structure and type of entity to be considered for investment. In order to facilitate recapitalisation or refinancing, we may negotiate direct security in the investee. This leaves us with an ability to also negotiate, provide liquidity and boost potential returns, by accessing options for equity positions for later IPO or sale of the investee company or asset.
Key features of this investment option for investors:
|Morningstar ticker code||17009|
|Investor Type||Wholesale and/or sophisticated investor and certain retail investors approved by us.|
|Minimum Initial Investment||$5,000 (in one or more investment options)|
|Minimum Additional Investment||No minimum|
|Minimum Ongoing Balance||$2,000|
|Minimum Redemption||$1,000 (subject to maintaining the Minimum Ongoing Balance)|
|Indicative Investment Timeframe||> 5 years|
|Regular Investment Plan||Yes|
|Distribution Reinvestment Plan||Yes|
|Management Fee^^||1.20% p.a. of portfolio’s net assets payable monthly in arrears.|
|Buy/sell Spread||+/- of up to 0.25%|
|Expense Recovery Fee*||0.10% (estimate)|
|Withdrawal Timing||half yearly|