NC 1 Fund
This information should be read in conjunction with the NC1 Fund Information Memorandum. In the case of conflict the Information Memorandum shall prevail.
Fund Name
NC1 Fund (Fund)
Investment objective and strategy
The Fund, via its Lending Trust, will provide secured private market debt facilities to qualifying retail financial services corporations specialising in small value term loans both domestically and/or internationally. Investor subscriptions and loan facilities are back-to-backed to create aligned terms and liquidity.
Eligible Investors
This Fund is only open to investment by Wholesale Clients (as defined in section 761G of the Corporations Act) receiving this IM within Australia and who accept the conditions of receipt of this IM.
Target Return
The Fund targets a return of 16.50% per annum (gross of fees and costs and before income tax). This is a target only and not a guaranteed return to Investors.
Distribution Frequency
Distributions are usually expected to be paid on a rolling quarter basis per the issue date of the Units in the relevant class.
Minimum Investment
A minimum investment of $100,000 (unless otherwise determined by the Trustee at its discretion).
Minimum Investment
Term
12 months from the date of issue of an Investor’s relevant class of Units (Minimum Investment Term).
Redemptions
Investors will be able to request to redeem their Units subject to the Minimum Investment Term for their class of Units and the required notice period of 90 days prior to the cessation of the Minimum Investment Term for their class of Units. For each 12-month period thereafter, Investors will be able to request to withdraw subject to the provision of 90 days’ notice prior to the cessation of each 12 month period.
Unit Price
Units in each class will be issued to Investors at a price of $1.00 per Unit. It is intended that unless there is a Loan impairment or the Fund has undistributed profits at the time of the issue of Units, the Net Asset Value per Unit will be $1.00.
Investor Reporting
The Fund Manager will provide quarterly reports to Investors in relation to ongoing key activities and performance of the Fund via our secure online portal.
Fees and
other costs
The Fund Manager is entitled to a Management Fee of 1.50% p.a. of the NAV of the Fund, accrued daily and payable quarterly in arrears. The Trustee will be paid its trustee fee from the Fund Manager’s Management Fee.
In addition to the Management Fee, the Fund Manager will be entitled to a Performance Fee of 20% p.a. for returns achieved over the target return of 16.50% p.a. (gross of fees and costs and before income tax), accrued and paid quarterly. Other fees may apply as detailed in the IM.
Trustee
Melbourne Securities Corporation Ltd ACN 160 326 545 AFSL 428289
Fund Manager
Flinders Lane Capital Pty Ltd ACN 161 744 645 AFSL 433442
Legal Advisor
Hall & Willcox
Debt Facilities Advisor
Baker & McKenzie
Fund Auditor
Moore Australia
Co-Investment
The Fund Manager and/or entities associated with the Fund Manager intend to subscribe for up to $2,000,000 of units in the Fund.
Flinders Lane Capital Pty Ltd ACN 161 744 645 AFSL Authorised Representative No 433442 is the fund manager of the NC1 Fund (Fund). Melbourne Securities Corporation Limited ACN 160 326 545 AFSL 428289 (Trustee) is the trustee of the Fund. The Fund is only available to investors who are Wholesale Clients, and are not Retail Clients, all within the meaning of the Corporations Act 2001. Flinders Lane Capital Pty Ltd is an authorised representative of MSC Advisory Pty Ltd ACN 607 459 441 AFSL 480649 (MSC Advisory). Flinders Lane Capital Pty Ltd is authorised to provide general financial product advice and to deal in interests in Australian managed investment schemes. This website contains general information only and does not take into account any person’s objectives, financial situation or needs and accordingly does not constitute personal advice for the purposes of section 766B(3) of the Corporations Act 2001.
The general information on this website does not constitute an offer to invest in the Fund and should not be used as the basis for making an investment in the Fund. Before making an investment in the Fund, you should consider important information about risks, costs and fees in the relevant disclosure document available by contacting Flinders Lane Capital Pty Ltd. The Information Memorandum for the relevant Fund is available by contacting Flinders Lane Capital Pty Ltd via hello@flinderslanecapital.com. Any investment is subject to risk, including possible loss of income or capital invested. None of Flinders Lane Capital Pty Ltd, the Trustee, MSC Advisory or any of their officers, advisers, agents or associates guarantees in any way the performance of the Fund. Past performance is not an indicator of future returns. The content of this website is current at the time of publication and may be amended or revoked by Flinders Lane Capital Pty Ltd at any time.