Managed Retail Fund

Fund Performance


Performance Results


Investment Products


Unit Price


PDS

Investors should consider the Funds Product Disclosure Documents (PDS) before deciding whether to invest into any of the offered Funds or continue to hold units in a retail Fund.

PRODUCT DISCLOSURE STATEMENT


Fund Details

Name: JB High Alpha Retail Fund.
ARSN Number: 602 157 559
Investor type: Retail Clients
Investment Manager: John Bridgeman Limited ABN: 55 603 477 185
RE / Trustee: One Managed Investment Funds Limited ABN: 47 117 400 987 AFS licence no. 297042.
Portfolio Manager: Stuart McAuliffe
Broking & Clearing: JB Markets Pty Ltd / Macquarie Bank
Minimum Investment Amount: AUD 50,000 with additional investment in increments of AUD 10,000.
Management Fee: 2.05% pa (including net GST) of the gross asset value of the Fund, charged monthly in arrears.
Performance Fee:

23.575% (including net GST) of any positive Fund performance after Investment Management Fees and before Usual Expenses, subject to a High Water Mark.

Issue Price: A Unit will be issued at an Issue Price of AUD 1.00 per Unit. After the Final Allotment Date, and subject to the Constitution, a Unit will be issued at an Issue Price calculated as:

Liquidity: Weekly, Redemptions will be paid within 30 days of a redemption request. + 0.15% on applications
Buy / Sell Spread: 0.15% on redemptions Nil on issue of units from reinvestment of distributions.
Leverage: Unless otherwise disclosed, the Fund may be leveraged to the extent it will not breach levels greater than 2.5 times the invested funds under management at the time of investment.
Entity: Open-ended Investment Unit Trust
Domicile: Australia
Units: All units will rank equally with each other
Currency: Reported in Australian Dollars
GST: All amounts exclude GST where applicable
High-Water Mark: Yes
Distributions: Distributions of any income or realised profits generated will be automatically reinvested in additional Units at the prevailing Issue Price (without adjustment for the buy/sell spread), unless the investor elects to receive cash distributions.
APIR code: JBM7543AU  
The offer of units in the Fund is made in accordance with a PDS dated 21/12/18
issued by One Managed Investment Funds Limited ABN: 117 400 987 AFSL: 297042

What is a Unit Price

What is a Fund Unit Price?

When you invest into a managed fund, the investment amount that you deposit into that fund is placed into an investment pool with other investors money for your investment manager to trade.

By investing your money, you then own an agreed percentage of that pool of money (the Fund).

To determine what percentage of the fund you own, the total value of the funds under management is calculated and then the amount of money that you deposited into the fund is broken up into shares of the fund which is also more commonly known as units of the fund.

Hypothetical Example:
If the fund value was $700,000 and you invested $300,000 = the total value of the fund would then be $1,000,000
You would own 30% of the fund aka 30% of the Shares (units)

The unit price represents how much each unit or "share" of a fund is worth.

How Is The Daily Unit Price Calculated

Managed funds are required by law to calculate the daily value of the fund and the individual unit price of the fund each business day.

The fund’s value is determined by calculating the overall value of all the available funds and investments that the investment manager is trading each day.

Once this figure is determined we then minus any daily expenses that the fund may have leaving us with the daily total value of the fund.

Hypothetical Example:
$1,002,000 (the value of the overall fund) - $2,000 (the daily expenses of the fund) = $1,000,000 (the daily total of the fund)

Once this daily value has been determined, we then divide the total value of the fund by total number of shares (units) within the fund. This provides the daily unit price.

Hypothetical Examples:
$1,000,000 (the total daily of fund) ÷ 1,000,000 (total number of units within the fund) = $1 unit price

If you invested $100,000 you would receive 100,000 units of the fund.

Then assume the investment managers performed well ant the unit price went to $1.40 per unit
Your total units would now be worth $140,000


Objectives & Strategies

Fund Objective

Both the Retail and Wholesale Funds’ objectives are to provide investors with moderate to high portfolio appreciation over the medium to long-term period. This is achieved through active management strategies of the investment assets.

The Funds will invest in a range of financial products that focus on global macroeconomics by holding both long and short positions. We will seek absolute returns regardless of market direction.

The Fund will predominantly invest in and trade in global futures markets across categories such as:

  • Share indices
  • Interest rates
  • Currencies
  • Commodities
  • Local and International Stocks
  • Over-the Counter Derivatives
  • Cash

Fund Strategy

Our strategy aims to identify medium and long-term trends and trend shifts, but to also vary position size given short-term technical indicators including sentiment and momentum. The strategy targets positive results over 12 month rolling periods. The Investment Manager’s advantage lies in correct assessment of broad valuation measures, macroeconomic environment, sentiment and economic forecasting.


Corporate Identities

One Managed Investment Funds Limited  - Responsible Entity (RE) / Trustee

One Managed Investment Funds Limited  is the Responsible Entity (also known as a RE) or commonly known as a Trustee of the JB High Alpha Retail Fund. 

The RE / Trustee is the company who holds the funds under management on behalf of the fund unit holders.

One Investment Group provide a broad range of asset classes including real estate, credit, private equity, infrastructure, equities, mortgage and hedge funds. They currently have over 250 registered funds and over $25 billion in funds under management.

Macquarie Bank Limited – Clearing Services (Brokers)

The Responsible Entity may use a wide variety of brokers to enter into transactions associated with securities and exchange- traded derivatives. The brokers used by the Responsible Entity will be located both in Australia and overseas depending on the nature of the asset traded. The brokers may also provide sub-custodial services for those securities where it is asked to trade. Any fees for these services are part of the Usual Expenses of the Funds.

Macquarie Bank Limited is the brokerage clearing services (Brokers) for all funds held undermanagement for the JB High Alpha Retail and JB High Alpha Funds.

Macquarie Bank Limited is the major Custody Clearing Services Broker of choice for all funds held undermanagement for the JB High Alpha Retail Fund.

A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary and administered by a responsible person, known as a custodian, who has a fiduciary obligation to the beneficiary.

Macquarie Bank Limited is one of the world's largest infrastructure asset managers and is one of Australia's top ranked publicly listed companies (ASX:MQG) who employs more than 14,000 staff in over 25 countries.     

Macquarie holds a number of licenses enabling it to conduct activities in the jurisdictions in which it operates and is regulated by a significant number of regulators globally.

In Australia, Macquarie Bank Limited holds a banking license and as an Authorised Deposit-taking Institution (ADI), is supervised by the Australian Prudential Regulation Authority (APRA), Australian Securities & Investment Commission (ASIC).

Ernst & Young - Audit Reporting

The JB Alpha High Retail Fund is audited by Ernst and Young (Sydney) to ensure the unit holders have the latest audited information available for the Fund, including the latest Unit prices and performance updates.

Ernst & Young, also known as “EY”, is one of the largest professional accounting firms in the world and is one of the "Big Four" global accounting firms.

Ernst and Young has over 250,000 employees spread out over 700 regional offices around the world.

One Registry Services Pty Ltd – Fund Registrar

One Registry Services Pty Ltd is one of Australia's leading providers of registry services for financial market participants.

One Registry Services objective is to provide clients with a registry services that are reliable, prompt and cost effective registry solutions to unlisted companies and trusts.

As a specialist provider of corporate and trust registry services, One Registry Services also offers a complete range of ancillary services.

One Registry Services offer a comprehensive range of registry and ancillary services to both companies and trusts including – Registry Management, Dividend and Distribution Payments, AGM Services, Investor Reporting, Enquiry Management and Corporate Actions.

JBL - Investment Manager

The Investment Manager for both the JB High Alpha Retail & Wholesale Funds is John Bridgeman Limited (JBL) ABN: 55 603 477 185.
JBL is a diversified investment management business listed on the National Stock Exchange of Australia.
JBL is a corporate authorised representative of JB Markets Pty Ltd  AFS Representative Number 1008380.

JBL provides Investment management services to retail and wholesale clients across a range of financial products including:

  • Cash
  • Equity Market Indices (EMI)
  • Exchange-Traded Derivatives (ETD)
  • Government Bonds
  • Listed Shares
  • Unlisted Companies and
  • Interests in Managed Investment Schemes

The investment managers duties also include: working out all the investment products and strategies used with the investment portfolios, monitoring all the portfolio managers on a day-to-day basis and ensuring that all the investment objectives, strategies and parameters agreed to by the clients of the fund are being met.

Unity Fund Services Pty Limited – Fund Administrator

Unity Fund Services Pty Ltd, part of the One Investment group of companies, has been appointed as the Fund’s administrator to perform certain administrative and fund accounting services for the Fund.

Unity Fund Services delivers a competitive advantage to investment managers and confidence to investors.

Unity Fund Services approach's the industry in a unique fashion by ensuring only high caliber accounting skilled professionals deliver fund accounting services to its clients.

Unity Fund Services has an innovative fund on-boarding strategy to ensure in-depth understanding of the fund’s dynamics and ongoing continuity.

Unity Fund Services service over 130 funds, across over 50 investment managers. Coupled with utilising one of the most sophisticated, award-winning portfolio technology applications available (Geneva® from Advent Software Systems Inc)

Unity Fund Services is fast becoming the service provider of choice in the Asia Pacific region and has in recent years been voted three times by HFN as one of the fastest growing hedge fund administrators globally.

Crowe Horwath Sydney - Retail Fund Auditor

Crowe Horwath Sydney are the auditors of the JB High Alpha Retail Fund.

The fund auditors are responsible for completing the annual and half yearly audits of the JB High Alpha Retail Fund.

Crowe Horwath who is ranked amongst the top 10 global accounting networks in Australia is an integral part of broader group of financial services brands, namely Findex.

Since the inception of Findex in 1987. Crowe Horwath has over 110 offices throughout Australia and New Zealand, Crowe Horwath has over 3,000 expert advisers and professionals.

Share Prices - Client Services / Research / Administration

Share Prices Pty Ltd and Share Prices Funds Management Pty Ltd, are dual authorised advisory firms of JB Markets Pty Ltd and Share Prices Australia Pty Ltd for the purpose of providing the JB High Alpha Funds’ administrative and client services for the Funds unit holders.

Share Prices Australia Pty Ltd also provides analysts, analytical research tools and other market data products for various trading strategies used within the two funds.

Retail Structure Diagram

Managed Retail Fund


High-Water Marks

A High-Water Mark is the the highest peak in value that our funds have reached.

Using a High-Water Mark ensures that our investment managers are only paid on their performance if we exceed the Funds previous High-Water Mark.

This means our investment managers do not get paid for poor performance. If our investment manager loses money over a period, they must get the fund above the previous historical High-Water Mark before receiving any performance bonus.

This chart shows examples of when a High-Water Mark has been reached and when a performance fee has been achieved by the Investment managers performance (see examples: A, B, C, D, E,F & G).

Managed Retail Fund


Risks


Disclaimer

Important Information:

All financial products displayed in this presentation are provided to you on the grounds that you accept that each of the products displayed may be provided to you via a directly affiliated company that works directly with Share Prices Australia Pty Ltd (ABN: 92 105 855 892) - Australian Financial Services Licence (“AFSL”) number 287367, trading as Share Prices.

Our affiliated companies include: 

For the purpose of Fund Management Services, these services will be provided to you by Share Prices Funds Management Pty Ltd (ABN: 81 623 398 890 ) which is a corporate Authorised Representative (AR Number: 1263287) of JB Markets Pty Ltd (AFSL 323182) ABN: 81 123 876 291.

For the purpose of Information Services, Customer Support and Account related services, these services will be provided by Share Prices Pty Ltd (ABN: 79 131 846 234) which is a corporate Authorised Representative (AR Number: 1263286) of JB Markets Pty Ltd (AFSL 323182) ABN: 81 123 876 291.

For the purpose of Online Trading, advisory services and Advisor Support, these services will be provided by Share Prices Advisory Services Pty Ltd (ABN: 27 623 398 890) which is a corporate Authorised Representative (AR Number: 1263288) of The Market Bell Pty Ltd (AFSL 465937) ABN: 90 153 184 108.

All of the above companies are also a dual Authorised Representative of Share Prices Australia Pty Ltd (AFSL 287367).

Trading any financial products, including foreign exchange contracts, futures and cfd’s on margin, carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you its important to note that Any advice provided is general advice only including any form of recommendation services. Before deciding to invest in any type of investment you should be aware of all the risks associated with investing in Managed Funds, MDA’s, Stocks, Indexes, foreign exchange contracts, futures or CFDs.

You should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss in excess of your deposited funds and therefore you should not invest money that you cannot afford to lose and seek advice from an independent financial advisor if you have any doubts.

Any advice provided is general advice only. It is important to note that: 

  • The advice has been prepared without taking into your objectives, financial situation or needs. 
  • You should therefore consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before following the advice. 
  • If the advice relates to the acquisition or possible acquisition of a particular financial product, you should obtain a copy of, and consider, the PDS for that product before making any decision.

Trading may carry a high level of risk that may not be suitable for all investors and past trading performance is not a reliable indicator of future trading performance and there is no guarantee that the performance of our analysts or trading teams in the future will be consistent with the performance in this presentation if any.

Any performance comparisons provided in these demonstration do not take into account any brokerage, management or performance fees.
The trading performances and unit pricing displayed in this demonstration are based off the JB High alpha wholesale funds investment managers performance.


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