Naos Absolute Return Fund
FUND FEATURES
Investment Universe
The investment universe will be restricted to the S&P/ASX 200 and in certain circumstances the investment Manager may invest in stocks outside the S&P/ASX 200 which have a minimum market capitalisation of $300 million. For those stocks outside the S&P/ASX 200 with a minimum market capitalisation of $300m the portfolio will be limited to 10% gross equity exposure and a further 5% due to market movement.
Investment Objective
Provide positive investment returns in excess of the Benchmark Index (UBS Bank Bill Index).
Investment Strategy
Long and Short investment positions. The aim of the Fund is to average 60% net long over an investment cycle
Gross Market Exposure Limits
250% of the net asset value of the Fund
Exposure Limits to Individual Securities
The greater of +/- 10% of the Fund's net asset value or +/- 5% in excess of the S&P/ASX 200 Index weighting
Date of deed establishing the Fund
11 November 2004
Fund Size (as at 31/10/09)
$5.22m
Minimum Suggested Timeframe
3 years +
Potential Volatility
Medium
Management Fee
1.5375% p.a. of the net asset value of the Fund
Application/Redemption Fees
Nill
Buy/Sell Spread
+/- 1%
Unit Pricing
Daily
Distribution
Semi-annually
Minimum Investment
$25,000
Minimum Balance
$25,000
Minimum Additional Investment
$10,000
Minimum Redemption
$10,000
Performance Fee
20.5% (Inclusive of the net effect of GST) of the excess return above the Benchmark Index (UBS Bank Bill Index). Underperformance is required to be made up in subsequent periods before a performance fee is earned.
Ongoing Fee Measure (OGFM)1
Capped at 1.5375% (Inclusive of the net effect of GST)
Additional costs may apply. Please refer to the section entitled 'Transaction costs and Buy/Sell Spread' under the heading 'Additional explanation of fees and costs'.
For an Application Form Please Download the Product Disclosure Statement Below.
This PDS must be read in conjunction with Supplementary PDS. Applications will only be accepted using the Application Form in the Supplementary PDS.