The fund is being offered by Strategic's Australian parent company Allco Finance.
Allco Modulus Series I fund is a fund of fund offering which is managed by US-based hedge fund manager RCG Capital. It invests in 27 funds.
The offer is limited to A$95 million and the minimum investment is A$50,000.
PINs raises $50 mill
Absolute Capital’s recent offer of Packaged Income Notes (PINs) has raised $50.8 million from more than 1100 investors.
Total subscriptions were $28.2 mill in the broker firm offer, $7.4 mill from institutions and $15.19 mill in the public offer.
PINs quoted on the NZDX on a price rather than yield basis, with the first coupon for the period to 31 January 2007.
Kingfish shareholders and manager benefit
Listed investment company Kingfish, which is managed by Fisher Funds, has reported an $18.4 million profit for the six months ending September 30.
This surplus includes $13 million of unrealised gains on investments held and $6 million of realised gains on investments sold during the period.
The performance has earned Fisher Funds a potential performance fee of $1.67 mill. Under its agreement if returns beat the benchmark rate (being 7% plus the change in the NZX 90 Day Bank Bill Index) the manger gets a fee.
"Fisher Funds achieved a return for the interim period well in excess of the benchmark rate of 7.24%. A performance fee of $1.67 million (inclusive of GST) is accordingly recognised on an accrual basis in the interim financial statements," Kingfish chairman Rob Challinor says in the interim report released last week.
"The directors believe there to be a reasonable probability of the necessary performance criteria, that would cause the payment of the performance fee for the 31 March 2007 year, being achieved.
Also Kingfish is paying shareholders a fully imputed special dividend of a 2.5 cents per share.
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