The Fund is a wholesale fund which aims to provide income distribution through investment Credit-linked Note.
Structured Product (Close-ended)
18 October 2016
3 Janury 2020
Maturity of The Fund/Fund’s Maturity
The Fund will mature:-
on the Maturity Date; or
upon the occurrence of Credit Event;
Whichever occurs first.
The Fund is designed for Sophisticated Investors who have a short term investment horizon, seek regular income distribution and have a high risk tolerance.
The Fund will invest a minimum of 95% of the Fund’s NAV in a USD-denominated CLN issued by a Financial Institution (the “Structurer”), while the remaining balance will be invested in money market instruments, fixed deposits and/or liquid assets on the min CLN will not be observed nearing maturity date. The CLN that the Fund intends to purchase provides exposure to multiple corporation or sovereign referred to as “Reference Entities”.
The Fund will be paid by the Structurer in the form of quarterly coupon payments. These coupons received by the Fund would be used to provide quarterly income distributions by the Fund to you, subject to the applicable Fund expenses and fees. At the Maturity Date, the Structurer will pay the Fund the Notional Amount.
Subject to the availability of income, the Fund aims to distribute income on a quarterly basis until the Maturity Date.
Credit linked notes : Minimum of 95% of the Fund’s NAV
Money market instruments, fixed deposits and/or liquid assets: Maximum of 5% of the Fund’s NAV
Minimum Initial Investment
Minimum Additional Investment
Minimum holdings of units
FEES & CHARGES
2.00% of the Oer Price and it is not negotiable.
Annual Management Fee
A 20% management fee which is conditional upon the appreciation in the NAV per Unit on the Calculation Date over and above the hurdle value (1.0325). The management fee will only be calculated one (1) Business Day prior to the Maturity Date of the Fund.
Up to 0.03% p.a. of the NAV of the Fund
A RM5.00 transfer fee will be levied for each transfer of Units.