FAQs

We are an independent fund manager with expertise in the resource sector. Our team has considerable resource (mining and energy) industry experience and is well placed to identify investment opportunities within the Australian resources sector.

We also have substantial financial services expertise established from experience in global investment banks and funds management. This provides an important commercial overlay to these identified resource projects and companies.

A proprietary 4-screen process is then used to identfy optimum investments for the LSC Australian Resources Hi‑Alpha Fund. The process also allows flexibility to adapt to investment themes such as commodity momentum or value investment trends. There is also the ability to hold significant cash levels when market conditions are uncertain.

Our high hurdle rate (3% above the ASX Accumulation Resources Small Cap Index including Fund fees) means that we don’t start to earn performance fees until investors have already been well rewarded.

With the research backing and track record of the Breakaway Investment Group, we believe LimeStreet Capital is well placed to continue delivering superior returns to investors.

At present, LimeStreet Capital is only accepting investments in the LSC Australian Resources Hi-Alpha Fund.

This Fund will invest Australian Resources excluding BHP Billiton and Rio Tinto. Listed resource companies comprise around 30% of the value of ASX 200 Index The combined weighting of BHP Billiton and Rio Tinto is close to 50% of this 30%. Therefore the performance of these companies tends to overshadow the performance of the other companies within the sector.

This fund is designed to benefit from the myriad of investment opportunities offered by the other 900 companies in the resources and other related sectors.

The minimum suggested investment timeframe for the Fund is 5 years. The minimum suggested timeframe is a general guide only and does not take into account your individual circumstances. We advise investors to seek financial advice to determine, in their particular circumstances, the appropriate investment period for their investment. Please refer to ‘Managing Risk’ section in the Product Disclosure Statement for more information as to the risks applicable to the Fund.

Regular, simple to read and complete reports are provided to unit holders in the Fund. They comprise:

• Annual Reports including financial statements and Auditor’s Report (you may elect to receive this report electronically or not to receive this report by indicating on the Application Form).
  
  Transaction Reports confirming all additional investments, withdrawals, and payments (issued following transactions and on request).
  
  Distribution Reports issued quarterly notifying you of the value of your investment, income from investments and confirming the reinvestment or payment to your nominated account.
  
  Taxation Statements are issued annually and provide unit holders with taxation information including a detailed summary of the components of any Distributions.
  
  Indirect Investors who access the Fund through an IDPS will receive reports directly from the IDPS Operator, not from the Responsible Entity. However, EQT will be providing the reports described above to relevant IDPS Operators. Indirect Investors should refer to their IDPS Guide for information on the reports they will receive regarding their investment in the Fund.

Distributions comprises the unit holder’s share of any distributable income (includes taxable capital gains), earned by the Fund. A unit holder’s share of any net income is generally based on the number of units held by the unit holder at the end of the Distribution period – now at the end of 6 monthly periods. However, in some circumstances, unit holders may receive a Distribution where they have made a large withdrawal from the Fund, such as where the withdrawal comprises 5% of more of the units on issue at the beginning of the Distribution period. In these circumstances their withdrawal proceeds are taken to include a component of distributable income.

Generally, the income entitlements of unit holders are now determined twice yearly (30 June and 31 December) and Distributions are normally paid within 6 weeks of the end of the financial year.

Indirect Investors should review their IDPS Guide for information on how and when they receive any income Distribution.

If you are a unit holder in the Fund, you can:

• have your Distribution reinvested back into the Fund;
• have your Distribution directly credited to your nominated bank account; or
  a combination of both.
• If you do not make a direction, your Distribution will be reinvested.

The Constitution for the Fund provides for money payable to a unit holder to be reinvested where the Responsible Entity attempts to pay the money by electronic transfer and the electronic transfer fails on 3 occasions.

The Net Asset Value (NAV) of the Fund is calculated every Business Day. It is calculated by deducting from the value of the gross assets of the Fund, the value of the liabilities of the Fund. Generally, investments will be valued at the next available market value but other valuation methods and policies may be applied by the Responsible Entity (Equity Trustees) if appropriate.

The application price of a unit in the Fund is based on the NAV of the Fund (adjusted for certain income amounts) and divided by the number of units on issue. There may also be an allowance for transaction costs required for buying investments in determining the application price of a unit in the Fund. This allowance is known as a buy spread.

To invest, please complete the Application Form accompanying the Product Disclosure Statement and attach your cheque or money order made payable to ‘ANZ ACF LSC Australian Resources Hi-Alpha Fund Apps Account’ and send it to:

• LSC Australian Resources Hi-Alpha Fund
• C/o MacKenzie Coultas Funds Administration
• PO Box 244 Kent Town
• SA 5071

The minimum initial application into the Fund is $10,000.

Please note that cash cannot be accepted. Investors investing through an IDPS should use the Application Form attached to their IDPS Guide to invest in the Fund.

Applications can be made between 9:00am and 5:00pm Sydney time on any Business Day. However, for unit pricing purposes and income accrual purposes, any application received after 2:00pm Sydney time on a Business Day will generally be treated as having been received the following Business Day. If you are an Indirect Investor, you may need to contact the relevant IDPS Operator regarding the cut-off times for pricing purposes.

Investors can be any of: individual or joint investors, trusts, clubs and associations, partnerships and companies, or the trustee(s) of a self managed superannuation fund. Applicants must be 18 years of age or over.

You can make additional investments of $2,000 or more in the Fund at any time by sending us your additional investment amount together with a completed additional unit Application Form (single page) – please call LimeStreet Capital or Mackenzie Coultas for a copy. Alternative options include via an ‘Arrangement for Additional Contributions’ i.e. as an IDPS. If you are investing through an IDPS service you should refer to the IDPS Guide for the minimum additional investment amount.