Regal Investment Fund – Public Offer

DJ Carmichael Pty Limited (“DJC”) has been invited to participate in a public offer (“Offer”) being undertaken by Regal Investment Fund (the “Fund”).

The Fund is seeking to raise up to $500 million via the issue of 200 million fully paid ordinary units (“Units”) at an issue price of $2.50 per Unit, to be issued as soon as practicable.

Offer Units will be issued pursuant to a product disclosure statement that was lodged with the Australian Securities and Investments Commission (“ASIC”) on 8 April 2019 (“PDS”). The PDS can be accessed here. Investors should read the PDS before deciding whether to invest.

Participation in the Offer is available to all retail, Sophisticated and Professional Investors.

The Fund is a newly constituted managed investment scheme, which has been registered with ASIC. Following completion of the Offer, it is proposed that the Fund will be listed on ASX as an investment entity and trade under the ASX Code RF1.

Information on the Fund

Equity Trustees Ltd, the responsible entity of the Fund (“Responsible Entity”), has entered into an investment management agreement with Regal Funds Management Pty Ltd (“Manager”) that authorises the Manager to provide investment services to the Fund.

The Fund’s portfolio will be constructed by the Manager using multiple investment strategies and will comply with the Fund’s investment guidelines

The Fund’s investment objective is to provide investors with exposure to a selection of alternative investment strategies managed by Regal, with the aim of producing attractive risk adjusted absolute returns over a period of more than five years with limited correlation to equity markets.

The Manager will have ultimate responsibility for the Fund’s portfolio. The Manager has appointed an Investment Committee who will be responsible for determining the capital allocated to each investment strategy, ensuring that the portfolio complies with the Fund’s investment guidelines and managing the portfolio’s exposure to markets, derivatives and cash.

The Fund’s structure as a listed registered managed investment scheme allows investors to access an investment management capability typically only available to wholesale investors.

The Fund will also provide investors with exposure to the Manager’s investment expertise and the opportunity to capitalise on the Manager’s 15-year multi award winning track record of managing alternative investment strategies through multiple market cycles.

The Responsible Entity intends (but doesn’t guarantee) to distribute all distributable income annually but it may do so more frequently at its discretion.

An indicative timetable for the Offer is set out below:

Fig 1.JPG

**The Fund has the right to close the bookbuild early with no notice

DJC will receive a fee of 1.5% plus GST on funds raised. For example, for an allocation of $10,000, DJC will receive $150 of which the Adviser will receive $75.

Please ensure you contact your Investment Adviser by 10.00am WST Thursday, 23 May 2019 if you are interested in participating in the Offer.

The information contained has been prepared by third parties. No warranty of accuracy or reliability is given in relation to any advice or information contained in this document and no responsibility for any loss or damage whatsoever arising in any way for any representation, act or omission, whether express or implied (including responsibility to any persons by reason of negligence), is given by DJ Carmichael Pty Limited or any officer, agent or employee of DJ Carmichael Pty Limited.