Absolute Return Fund

WaveStone Capital in conjunction with the trustee (Fidante Partners) decided to terminate the WaveStone Capital Absolute Return Fund in February 2022.

Investors seeking information on the distribution payments should contact a financial adviser or the Fidante Partners Investor Services team on 13 51 53 or +61 2 9994 7000 from outside Australia during Sydney business hours. A breakdown of the components for the distributed amounts will be included in investors’ 2021/2022 tax statement which Fidante aims to send out in July 2022.

Fund Facts
Objective The Fund aims to provide returns that exceed those available from comparable investments.
Benchmark RBA Cash Rate1
1Performance fee hurdle The higher of:

  • the RBA Cash Rate; or
  • 3.75% p.a. (exclusive of GST) (resulting in an absolute return hurdle including management fees, of 5% p.a. (exclusive of GST)).
Stocks held Typically between 25 and 50.
Investment universe The Fund invests in listed investments in Australia and New Zealand, or those expected to list within 12 months.
Minimum investment timeframe At least five years
Minimum initial investment $500,000
Management fee 1.25% p.a. (exclusive of GST) of the net asset value of the Fund
*The Performance Fee Hurdle will be reviewed on 31 March, 30 June, 30 September and 31 December and adjusted for the following 3-month period to the higher of the RBA cash rate or 3.75%. The effective date of change of the Performance Fee Hurdle from cash to the current hurdle was 5 September 2019.