Distressed Assets Fund

Investment objective:

The investment objective is to provide investors with exposure to a niche asset class in the Australian and New Zealand private equity sectors, specifically distressed and turnaround investment opportunities.

This fund may suit your investment needs and risk profile if you:

• seek higher long-term potential returns from private equity investments;
• are interested in seeking to profit from distressed and turnaround investment opportunities;
• are comfortable with the illiquid nature of private equity investments and this fund;
• are comfortable with the higher risks associated with distressed and turnaround investing; and
• are seeking an alternative to traditional publicly listed equities and other asset classes.

Responsible Entity:

Specialised Private Capital Ltd trading as Centric Capital

Term of the Fund:

10 years minimum (although it can be extended or may be shorter). Please refer to the PDS for more details.

Expected volatility of returns:

High

Potential for capital growth:

High (note that distributions may be treated as income)

Potential for income:

Low

Minimum investment: commitment / increments:

$25,000/$5,000

Distributions:

As soon as practicable after investments are realised. Please refer to the PDS for details.

Units:

$1.00, partly paid, with calls on a just-in-time basis (at least 10 calendar days notice)

Initial amount payable:

$0.025 per $1.00 unit
($625 per $25,000 commitment and $125 for each additional $5,000 commitment)

Close date:

14 December 2007 unless extended or closed earlier by the Manager

Redemptions:

There is no redemption facility available.

March 2010 (46kb)

December 2009 (40kb)

June 2009 (22kb)

 March 2009  (14kb)