Areca Progressive Income Fund 2.0
Fund Information
| Fund Name | Areca Progressive Income Fund 2.0 |
| Fund Category/Type | Wholesale Fund with flexible asset allocation / Income and Growth |
| Objective of the Fund |
The Fund aims to provide combination of income and capital growth. Any material changes to the Fund’s objective would require Unit Holder’s approval. |
| Asset Allocation |
Flexible allocation between equity and fixed income. |
| Performance Benchmark |
Maybank’s 12-month fixed deposit rate. The risk profile of the Fund is different from the risk profile of the performance benchmark. There is no guarantee that the Fund will outperform the performance benchmark. |
| Launch Date | 23 August 2018 |
Fee & Expenses
| Annual Management Fee | Up to 2.00% p.a. of the NAV of the Fund. |
| Annual Trustee Fee | Up to 0.07% p.a. of the NAV of the Fund. |
| Annual Performance Fee | The Manager is entitled for a performance fee of 30% on any excess of aggregate total returns of above the Watermark Return upon capital distribution, computed on each investor’s account individually. |
Charges
This table describes the charges that you may incur when you buy or redeem Units of the Funds.
| Entry Fee |
Direct investment with Manager: Up to 4% of the Net Investment Amount Third-party distributors: Up to 4% of the Net Investment Amount Net Investment Amount is the number of units at the NAV per Unit. Please note that the entry fee and exit fee are subject to other taxes which the government may impose from time to time. |
| Exit Fee |
Up to 5% of the amount redeemed. Please note that you will not be able to redeem any Units within the first 12 months from the date of Investment. The exit fee will be credited to the Fund. |
Transactions
| Minimum Initial Investment |
Direct investment through the Manager: RM50,000 or such other lower amount as decided by the Manager. Third party distributors including IUTA: RM50,000 or such other lower amount as decided by the Manager. |
| Minimum Redemption |
The minimum redemption amount is RM50,000 or 50,000 Units or such other amount as decided by the Manager. However, if the redemption request leaves you with less than 50,000 Units (minimum balance), all the Units in your account will be redeemed automatically. Redemption notice must be submitted before 3p.m. We will not process your transaction if we receive your application after the cut-off time. If the transaction date falls on a weekend or holiday, your transaction date will take place on the next Business Day. |
| Minimum Balance | 50,000 Units or such other limit at the Manager's discretion. |
| Redemption Restriction/Notice |
You will not be able to redeem your Units within the first 12 months from the investment date. Please note that you might not be able to redeem Units if the Fund is not able to dispose its assets and has insufficient cash. |
| Redemption Payment | We will pay you within 10 days upon receipt of the duly completed original redemption form. However, it is our general redemption policy to make payment within the next 3 Business Days from the transaction day for those Units purchased directly through the Manager. (i.e. T+3 days). |
| Switching Facility | Not Available. |
| Transfer Facility | Not available, unless by operations of law or under the provision of the Deed. |
| Cooling-Off Rights | Not Available |
| Distribution of Income | Subject to availability of distributable income, the Fund will distribute income at least once a year. |
| Income Re-investment policy | In the absence of any instructions, we will, at our discretion, reinvest the income into another unit trust fund as determined by the Manager at the NAV per Unit of the distribution day without any entry fee. |
In the event of any discrepancies, the Information Memorandum shall prevail.
