Investment Objective
The investment objective of the ANZ Discovery Asia Fund was to gain enhanced exposure to the performance of a diversified portfolio of Asian focused absolute return funds whilst preserving capital and generating positive returns over the long term.
However, in accordance with the Dynamic Management principles employed by the Fund, in order to preserve capital the Fund’s investment exposure has altered predominately to gain exposure to zero coupon bonds until the Fund’s maturity.
Investment Strategy
The investments of the ANZ Discovery Asia Fund may include:
- The Total Return Equity Swap (‘Swap’)
- Cash and cash equivalent investments
Term of the Investment
The term of the ANZ Discovery Asia Fund is approximately eight years and one month, expiring on or about 29 July 2016 (Maturity Date). Around three months before the Maturity Date, the responsible entity will call a meeting of investors to resolve by special resolution:
- to wind-up the ANZ Discovery Asia Fund and distribute the proceeds to investors; or
- invest the ANZ Discovery Asia Fund assets in notes, for a term approved by investors.
If the Fund’s assets are to be reinvested, the Loan and Put Option provided by ANZ to investors will nonetheless terminate on the Maturity Date unless ANZ agrees, in its absolute discretion, to an extension or rollover of the Loan and Put Option.