HMC Capital High Conviction Alternatives Fund (Fund), is an Australian-domiciled unlisted fund providing exposure to a high-conviction investment strategy seeking to generate superior risk-adjusted returns.
The Fund will target public and private companies with real asset backing where there is potential to unlock ‘trapped’ value through improved capital allocation and portfolio management.
The Fund is managed by the same team which led the real estate acquisition of Masters from Woolworths Limited in 2017 and who founded HMC Capital, complemented by additional dedicated and high calibre investment professionals.
The Fund implements its investment strategy by investing in units in HMC Capital Partners Fund 1 - Trust C (“Underlying Fund”), an unregistered unit trust established in Australia by HMC Investment Management Pty Ltd, a HMC Capital Entity
This Fund will target our highest conviction ideas and leverage our proven investment track record and skills to generate attractive risk adjusted returns which are non-correlated to equity markets over the long-term
Key Fund Features
| Feature | Detail |
|---|---|
| Fund Inception | 27 March 2023 |
| Unit Pricing Frequency | Monthly |
| Investment Objective | The Fund's investment return objective is to aim to deliver strong positive risk adjusted returns over the long term. |
| Manager Participation | HMC Capital has invested $170 million into the Underlying Fund. |
| Underlying Investments | Up to 10 positions in listed investments1 |
| Available to | The Fund is available to Retail investors who fit within the Target Market as outlined in our Target Market Determination (TMD) and have:
|
| Fees |
Management Fees and Costs (excluding Performance Fees): 1.57%2 |
| Performance Fee | 20% performance fee above 7% p.a. hurdle rate subject to a high-water mark. |
| Buy/Sell Spread | 0.30% / 0.30% |
| Applications | Monthly with instructions to be sent through by the 14th day of each calendar month. |
| Redemptions | Quarterly with redemption requests to be submitted by the 14th Calendar Day of March, June, September, and December for redemption at the end of the following quarter. Redemptions will be subject to a limit of 5% of the Underlying Fund units outstanding each quarter. |
- The Underlying Fund has the flexibility to hold up to 25% unlisted assets should that arise from execution of listed investment value maximization strategy
- Based on information available as at the date of the SPDS and reflects the Responsible Entity's reasonable estimates of the typical ongoing amounts for the current financial year. See the PDS and SPDS for further details
- Estimated based on the Responsible Entity's reasonable estimates of the typical ongoing amounts for the current financial year, having regard to the performance fee accrued as at 31 January 2024.
The Team
Investment committee
Fiona Pak-Poy
Independent Trustee Director
Jingmin Qian
Independent Trustee Director
Dr Chris Roberts AO
Independent Trustee Director
Chris Saxon
Chair HMC Capital
David Di Pilla
Chair of Investment Committee
Greg Hayes
Non-Executive Director HMC Capital
Management Team
David Di Pilla
Managing Director and Group Chief Executive Officer
Victoria Hardie
Managing Director - HMC Capital Partners
Misha Mohl
Group Head of Strategy and Investor Relations
Vaughan Anderson
Risk Management
Jamie Sun
Group Corporate Finance Manager
Jourdon Whitfield-Horesh
Senior Associate
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How to invest
1. Link to Automic
If you are a Retail Client and not an existing client you may use the below link to apply for units. If you are an existing investor, please use the link that has been previously sent to you from Automic.
https://apply.automic.com.au/hmchcaf
If you are a Retail Client and unble to use the above link with Automic, please download and complete the application form below.
Please note, in accordance with the Target Market Determination, if you proceed with the link or downloading the application form, you will be asked to confirm that you have received financial advice from a registered Financial Planner.
Throughout this process you will be asked to provide your Statement of Advice concerning this fund or complete an attestation to the advice that you have received.
HMC Capital takes all complaints seriously. Every complaint will be:
- acknowledged quickly;
- investigated objectively and impartially and will be considered on their merits considering the individual circumstances and needs of the complainant;
Following investigation, we will:
- notify the complainant of our findings and any actions we have taken or plan to take regarding the complaint;
- amend our business practices or policies, where appropriate; and
- record the complaint for audit and continuous improvement opportunities.
We aim to resolve your complaint in a timely and efficient manner. Where required in accordance with our internal procedures, we will provide a written response to you within 30 days of your complaint being received. If we resolve your complaint within 5 business days of receipt, we will generally not provide you with a written response unless you ask for one. If your complaint is particularly complex, or there are relevant circumstances outside our control, we will provide you with a delay notification within 30 days of your complaint being received. This delay notice will set out our reasons for the delay in providing a written response and your right to escalate the complaint to Australian Financial Complaints Authority (AFCA).
If you wish to make a complaint, please email complaints@hmccapital.com.au. Please let us know if you require assistance to make a complaint, including by another means, in another language or if you required a printed version of this document.
If your complaint relates to an investment product or service and has not been resolved within 30 days, or you are not satisfied with the process followed, you may seek assistance from AFCA.
AFCA is a free and independent dispute resolution service that considers complaints about financial service providers and their affiliates operating in Australia. AFCA can investigate disputes that fall within their Terms of Reference and make decisions that are binding on the financial services provider. Contact details for AFCA are:
GPO Box 3
Melbourne VIC 3001 (Australia)