For the first time in the Australian market, investors can gain unprecedented access to a group of prominent Australian fund managers through a single listed investment company and also support Australian childrens charities.
Future Generation Investment Fund Limited (the Company) (ASX: FGX) has dual objectives: to provide investors with diversified exposure to Australian equities with fund managers various investment strategies and styles, and make a financial contribution to charities supporting children at risk.
The Company will invest its capital with fund managers who have agreed to provide their services for 0% management fees and 0% performance fees. The pro bono support of these fund managers, as well as various service providers, will allow the Company to donate 1% of its assets each year to Act for Kids and other Australian childrens charities. Where forgone fees are greater than the charitable donation, the balance will be for the benefit of shareholders.
Director Geoff Wilson said: Investors can access the best Australian fund managers in a single investment vehicle while also helping to improve the lives of children at risk. Because there are no management and no performance fees, the Future Generation Investment Fund model delivers exceptional value to shareholders.
The Company offers investors the benefits of the listed investment company structure, with the objective of providing fully franked dividends, said Mr Wilson.
Future Generation Investment Fund Limited is raising money through a capital raising of up to $200 million (the Offer). Investors can subscribe for shares (with one option attaching to each share) which are offered at a subscription price of $1.10 per share. The Offer is open from 7 July 2014 and is expected to close on 3 September 2014.
This would not be possible without the generous support of the fund managers who have agreed to provide capacity to the Company in their managed funds at no cost, said Mr Wilson.
Watch the video interview mentioning Act for Kids
For further information, visit www.futuregeninvest.com.au