|
Fund name |
Coastal
Magnum Diversified Performance Fund
|
|
Type of
fund |
Fund of
(hedge) funds - Not available to retail investors
|
|
Objectives |
The Fund
aims to provide investment returns comparable to the HFR
Composite Hedge Fund Index by investing in a
diversified portfolio of leading
international hedge funds
|
|
Number of
hedge fund investments |
Minimum of
15 underlying hedge funds - mixture of
both conservative and aggressive hedge
fund strategies
|
|
Minimum
investment |
$100,000
|
|
Minimum
additional investment |
$10,000
|
|
Entry fees |
Nil -
however, third party brokers and advisers
may charge an initial entry fee
|
|
Exit fees |
Nil
|
|
Management fee |
2.4% per
annum
(investments of more than $500,000
receive significant management fee
refunds on a sliding scale). No performance fees
are charged for this fund
|
|
Fund
structure |
Registered
Australian unit trust - Not available to retail
investros
|
|
Investment
adviser |
Magnum Fund
Management Limited (Magnum is one of the
world's leading managers of hedge fund of
funds and assists in identifying
and managing the underlying portfolio of
hedge fund investments)
|
|
Fund
manager |
Coastal
Capital Limited
|
|
Fund
administrator and custodian |
Bermuda
Trust (Far East) Limited
part of the Bank of Bermuda based in Hong
Kong
|
|
Unit
registry and paying agent |
Permanent
Trustee Company Limited
|
|
Auditor and
tax advisers |
PKF (formerly Pannell Kerr
Forster)
|
|
Currency |
Australian
dollars - all underlying currency
exposures are hedged into Australian
dollars
|
|
Subscriptions |
Monthly
(cut off date 15 business days prior to
month end)
|
|
Withdrawals |
Withdrawals generally take effect
monthly (conditions apply), at the end of month unit
value. 3 full business days notice before month
end are required (if after that date, the withdrawal is
processed the following month). Amounts withdrawn
are generally paid towards the end of the following
month
|
|
Income
distributions |
Provided assessable income for
a quarter exceeds A$ 0.01 per unit, distributions are paid
quarterly - if lower, the income is distributed at year
end or when the amount available for distribution
exceeds A$ 0.01 per unit. Investors may elect for
income be reinvested into
additional units
|
