Pengana Asian Equities Fund - MLC

More documents

Recommendations

Info

What you need to do?If you wish to confirm or change your payment instructions please contact ClientServices (details provided below).If you don’t need to change your payment instructions no action is required for youto receive your cash proceeds.As a result of the termination of the Fund you will incur capital gains or losses on thedisposal of your units which may have tax implications for you. The composition andtiming of the final distribution could also affect your tax position. We thereforerecommend that you speak to your tax adviser about your individual circumstances.A tax statement will be sent to you after 30 June 2013.You may also wish to speak to a financial adviser in relation to reinvesting yourmoney.If you have any questions, please contact Client Services on 02 8524 9900 Mondayto Friday between 9am and 5pm (Sydney time).We wish to thank you for your support of the Fund and apologise for anyinconvenience caused by the Fund’s termination.Yours sincerely,Pengana Capital Limited
Termination of the Pengana Asian Equities FundFriday 7 September 2012Questions & AnswersSummary of key information• Pengana Capital Limited (“PCL”) is the Responsible Entity and Investment Manager of thePengana Asian Equities Fund (“the Fund”) (ARSN 138 943 709).• PCL has decided to terminate the Fund with immediate effect on 7 September 2012 (“thetermination date”) and commence winding up the Fund.• In order to facilitate the orderly wind up of the Fund and to ensure all unit holders are treatedequally, PCL has determined that the Fund is now closed to all applications and withdrawals.• PCL will not be charging any management fees from the Fund’s termination date and during itswind up process.1. Why is the Fund closing?The Fund was established by Pengana in 2008 with the objective of providing investorsparticipation in the Asia-Pacific region’s superior growth with protection from short termvolatility. The Fund initially surpassed these objectives and since inception has outperformed acomparative index. However, its stock picking investment philosophy, which focuses oncompanies offering long-term structural growth in Asia at attractive valuations, has facedchallenges over the last 2 years.We believe the Fund’s investment thesis remains valid and that markets will in time, revert tomore fundamental drivers but the time frame is unclear. Due to these considerations, Penganahas determined that it is in the best interests of the Fund’s investors for the Fund to beterminated and investors' monies returned.Pengana Capital Limited ABN 30 103 800 568Level 12, 167 Macquarie Street, Sydney NSW 2000, GPO Box 5409 Sydney 2001Phone 02 8524 9900 Fax 02 8524 9901 Email clientservice@pengana.com
Page 1: 7 September 2012[Investor address]D
Page 5 and 6: 6. Do investors need to take any ac

Pengana Asian Equities Fund - MLC

Create successful ePaper yourself

Delete template?

Save as template?