Change of Investment Manager
On or around 1 October 2020, Ironbark Asset Management (Fund Services) Limited as the responsible entity intends to change the underlying fund in which the Ironbark LHP Global Long/Short Fund invests.
As part of this change, we have reviewed the feasibility of keeping the Retail class (APIR HFL0106AU) open for ongoing investment. Due to reduced investor demand for the Retail class together with the significant reduction in funds under management, we have made the decision to close the Retail class and return your proceeds.
The Wholesale class (APIR HFL0108AU) of the Ironbark LHP Global Long/Short Fund will remain open to investors and will be renamed the Apis Global Long/Short Fund. The Fund will invest in the Apis Offshore Capital, Ltd. (Flagship) , which is managed by Apis Capital Advisors.
We recognise that investors are seeking Alternatives products that are highly liquid and cost competitive. We have taken this feedback onboard and continue to refine our Alternatives offerings to ensure the ongoing relevancy of our product set. The investment manager of this Fund will change, offering the following enhancements to investors;
– a substantial reduction in management costs
– daily liquidity, and
– access to a highly regarded and successful investment manager in Apis.
Following an extensive due diligence process, we selected the Apis Offshore Capital, Ltd. (Flagship), managed by Apis as the underlying fund in which the Fund invests.
We believe the benefits of this change is in the best interests of investors in the long term.
A new Product Disclosure Statement (‘PDS’) and Application Form for the Fund will be issued on or around 1 October 2020.