For Participants
The fund is structured as a closed fund on joint account. As a result, the fund is fiscally transparent. Taxes are not levied at the level of the fund but at the level of the investor.
The Netherlands regulating Authority for the Financial Markets (AFM) has confirmed the fund manager's request for registration as a so-called 'light' manager. This grants an exemption from the AIFMD license for managing assets. The fund is therefore outside the supervision of the AFM.
Entry and exit
The minimum investment in the fund is EUR 100,000. The fund has an open-ended character which means that the number of outstanding participations may vary.
Due to the fact that the fund is structured as a BFGR, participations may only be redeemed by the fund or transferred to relatives by blood or marriage in a direct line. An investment in the fund is a long-term investment, it is advised to hold participations for at least seven years. If a participant wishes to sell participations, the fund management will decide in principle on a discretionary basis whether to grant the request to exit. However, the fund management strives to satisfy redemption requests as far as possible.
Valuation
The net asset value of the fund is determined and communicated to participants once a quarter. The net asset value is determined by subtracting the liabilities of the fund from the value of the assets. The assets consist mainly of outstanding loans and cash, the loans are valued at the outstanding principal amount plus any interest and costs in arrears. Loans are impaired when the value of the collateral is insufficient to cover the total amount outstanding. The fund is administered in US dollars.
Information Memorandum
We would be happy to make an appointment to discuss the details of the Fund with you.
The Key Information Document (Kid) provides insight into the operation, risks, costs and returns of the investment product.
