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IPO - PM CAPITAL Asian Opportunities Fund Limited Offer

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CMC Markets
Important Dates
Lodgement of the Prospectus with ASIC7 April 2014
Offer opens23 April 2014
Offer closes9 May 2014
Expected date for allotment of Shares and Options16 May 2014
Shares and Options commence trading on the ASX (on a normal settlement basis)22 May 2014

Company Overview

PM CAPITAL Asian Opportunities Fund Limited (“PAF” or “the Company”) is a newly incorporated company. Upon completion of the IPO, PAF will be a listed investment company that will invest predominately in listed securities diversified across Asian equity markets in the Asian Region (ex-Japan) to provide long-term capital growth over a seven-year plus investment period.

The Company’s Portfolio will be managed by P.M. CAPITAL Limited ("Manager" or "PM Capital"). The Company will provide investors with the opportunity to invest in an actively managed portfolio and gain access to the investment experience and expertise of the Manager.

As a guide, the Company's Portfolio will be a concentrated portfolio of around 15-35 listed securities diversified across Asian equity markets in the Asian Region (ex-Japan), where there will be no formal restrictions based on industry or company size. The Portfolio will be invested wherever the greatest opportunities exist within the Asian Region (ex-Japan). This region includes China, Hong Kong, Taiwan, Korea, Vietnam, India, Indonesia, Malaysia, Singapore, Thailand, Philippines, Sri Lanka and Pakistan.

Company Presentation

View the company presentation here

Offer Overview - PM CAPITAL Asian Opportunities Fund Limited

The Company is offering subscribers securities consisting of one fully paid ordinary share (“Share”) together with an entitlement to one option for each Share subscribed for under the Offer (together, the “Securities”).
The key highlight of the Offer are as follows:

  • Take up – Investors can apply for Securities through the Offer in one of two ways:
    1. via the General Offer (comprising solely of a Subscription Price) of $1.00.
    2. via the Broker Firm Offer comprising a Subscription Price per Share of 98.35 cents payable to the Company; and a Service Fee per Share of 1.65 cents (inclusive of GST) payable to your Broker (see Section 2.4 of the Prospectus for further details)
  • Free option – investors in the initial public offering (IPO) of PAF will receive one free Option for every one Share subscribed for under the IPO of PAF. Each Option will have an exercise price of $1.00 per share and will be exercisable until 31 May 2016
  • Opportunity – access to the Asian Region (ex-Japan) provides domestic investors a far greater breadth of opportunity and there is limited choice of ASX listed Asian equity managers
  • Superior risk/reward - investments in the Asian Region (ex-Japan) provides long term structural opportunities with superior risk/reward profiles
  • Currency Exposure - an experienced investment manager focused on maximising the long term after tax value of investors' capital

The PAF at a glance

  • Concentrated portfolio of around 15-35 securities diversified across Asian equity markets in the Asian Region (ex-Japan)
  • Unlisted securities may represent up to 10% of the portfolio's net asset value
  • Individual security positions should not exceed 10% of the portfolio's net asset value
  • Tax will be an important consideration in the management of the portfolio
  • Short positions, derivatives and option strategies may be used
  • Active currency management means hedging will change
  • The maximum total net equity exposure is 100% of the portfolio's net asset value. If appropriate the portfolio may be 100% invested in cash
  • While franking credits will be paid capital growth is our primary focus

The above information has been extracted from multiple sources including the issuing company's website - http://www.pmcapital.com.au/ and the prospectus.
CMC Markets does not endorse any material, recommendations, commentary, analysis, trade suggestions or external research discussed or distributed by or on behalf of any external Company or provider and does not accept any responsibility for any claims, liability, loss or damage arising out of or in connection with any external Company or provider. The information contained in this website and offer document does not constitute personal financial advice. You should seek your own independent legal, taxation or investment advice as appropriate before making an investment decision.

Download the prospectus which includes an application form below.

Return page 59 (Broker Firm Offer Application Form to):
Email: Dealers.Stockbroking.Australia@cmcmarkets.com
Attn: Head of Dealing
CMC Markets Invest Limited
GPO Box 5351
Sydney NSW 2001

Thank you! You can download the prospectus here

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