Patient Capital Option
Fund Overview
Fund at a Glance
Quarterly Overview
PDS
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.
Investment timeframe
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:
| Asset Classes^ | Minimum | Maximum | Target |
| Private Market Assets | 0% | 70% | 63% |
| Securities | 0% | 40% | 27% |
| Cash and equivalents | 10% | 35% | 10% |
| Derivatives (hedging only) | 0% | 0% | 0% |
Investment Approach
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:
| APIR Code | EXP0007AU |
| 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 |
| Distribution Frequency | Quarterly |
| 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) |
| Unit Price# | Daily |
| Withdrawal Timing | half yearly |
| Unit Class | F1 |
Disclaimer: © Millinium's Multi-Strategy Fund ARSN 125 878 015 (“Fund”) is issued by Millinium Capital Managers Limited, ABN 32 111 283 357, AFSL No. 284336 (“Millinium”). This document does not constitute personal advice. Investors should consider obtaining professional advice as to whether this financial product suits their objectives, financial situation or needs. Investing in the Fund or its investment options can only be made by completing an application form attached to a current Product Disclosure Statement (“PDS”), and submitting it to our Sydney office. Investors should consider the PDS before investing and speak to their Financial Planner. ^This investment option’s target allocation is a target only and may change without notice. The asset allocation may be more or less than the target allocation in the Fund's PDS. ^^Management Fees and expenses are deducted from the sub trust for each investment option of the Fund. *This is an estimate based on subscriptions but costs could be higher. # The unit price is subject to adjustment. Please see the section "Unit pricing and the value of your investment" in the PDS. Returns are not guaranteed. Any past performance information or up to date returns posted on the website at www.millinium.com.au under the "Product Performance" tab, should not be taken as a reliable guide to future performance of the Fund or this investment option. Please note that returns are rolled up into the unit prices calculated for each unit class/investment option of the Fund. Please refer to the Terms of Use on our website for full details of use and our disclaimers. This document may be amended, withdrawn or replaced without notice. Please see the PDS for full details on the Fund from our website at www.millinium.com.au or speak to Investor Services on 02 8012-8650 to obtain a copy of the PDS.
