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Fund Information

Restart Date: 1 Jan 2020​

Type of Fund: Limited company​

Mandate: ASX Resources outside the ASX 100 Index

Benchmark: S&P ASX Small Resources Index

Style: High Conviction​

Portfolio Stocks: 10-25

Max. Cash: 50%​

Minimum Initial Investment: ​A Prospectus Offer is available to existing and prospective investors as of December 2020

Performance Hurdle: 10% per annum​

Man. Fee: 2%+GST (suspended until 30 June 2021)​

Perf. Fee: 20% of returns in excess of the benchmark  (suspended until 30 June 2021)​

Fund Pricing: Monthly​

Distributions: As Approved

Fund Reporting: Monthly

Fund Overview

Share Price: $0.2289

The AFM Perseus Fund is a high conviction investor in the Australian small resources sector, being those resource and mining services companies outside the S&P ASX 100 Index. The Fund will hold between 10 and 25 stock positions with a maximum cash weighting of 50%.

This fund has been repositioned with an expanded investment mandate and a new investment management team. The restart date is 1 January 2020.

The investment manager adopts a three step investment process which includes an evaluation of market conditions (MARKET), an assessment of the macro environment and geopolitical conditions (MACRO) and an assessment of specific companies based on our 5 Bricks evaluation process which analyses companies according to valuation, management strength, business strength, financial strength and responsible investing (MICRO).

More specifically, we blend a “top down” approach to identify favoured commodities with a “bottom up” approach to select good quality / good value companies exposed to favoured commodities. A favoured commodity may be one that is in favour now, such as Gold, or a commodity that is out of favour and represents a compelling countercyclical opportunity – such as battery metals.

The Fund is likely to exhibit greater volatility as it focuses on the small companies in the resource space.

Performance History

**New investment mandate and investment committee commenced 1 January 2020

The Performance chart assumes that an investor invested $1,000 at the restart date of the Fund (1st January).

AFM Perseus Fund Ltd Prospectus Notice

The Offer

AFM Perseus Fund Ltd (ACN 087 023 612) lodged a prospectus with the Australian Securities and Investment Commission on 8 December 2020 for the purpose of seeking to raise additional investment funds of up to $962,933 via a non-renounceable entitlement issue of 1 for 1 shares to existing Shareholders at an issue price of 20 cents per share (“Offer”).

The Offer period commenced on 16 December 2020 and is expected to close on 5 March 2021. 

Applications

An application for the Offer can be made by completing the Application Form  and then lodging the form and the application monies in accordance with the instructions set out in the Application Form. For a copy of the Application Form, please contact Argonaut Funds Management directly at argonautfundsmanagement@argonaut.com

Important Information

The Prospectus is an important document that should be read in its entirety before deciding whether or not to participate in the Offer (as referred to above and defined in the Prospectus). If after reading the Prospectus, you have questions about the Offer, you should consult your professional adviser.

Nothing contained on this website or in the Prospectus constitutes investment, legal, business, tax or other advice. In particular, the information on this website and in the Prospectus, does not take into account your investment objectives, financial situation or particular needs. In making an investment decision, you must rely on your own examination of the Fund and the securities and terms of the offering, including the merits and risks involved. You should consult your professional adviser for legal, business or tax advice.

Additional Information 

If you are having difficulties retrieving a copy of the Prospectus or if you would like to receive a paper version of the Prospectus and Application Form, please contact Argonaut Funds Management directly at argonautfundsmanagement@argonaut.com

Download Prospectus

Prospectus Q&A and Performance Update

David Franklyn, Head of Argonaut Funds Management, provides an update on the Fund’s performance and outlook, and answers questions regarding the Prospectus Offer.

How to invest

Invest now by downloading and completing the Shortfall Application Form.