A game changer for Australian investors

The Pengana Private Equity Trust (ASX: PE1*) initial public offering is now open for investment. This is the first time that Australian retail investors will have the ability to access an ASX listed portfolio of global private equity investments.

Private equity is a particularly interesting asset class due to its performance over many years and its potential to deliver investors with diversification benefits when combined with their existing investments. Significantly, the Trust also targets a 4% annual distribution yield**, paid half yearly.

The investments in the Trust will be selected by Grosvenor Capital Management, L.P, one of the largest and longest continually operating allocators to alternative investments in the world.

Shares in Pengana Capital Group (“PCG”), equal to 5% of the total amount raised under the offer will be issued to the Trust.  This issue will be at a nominal cost, effectively providing Investors with a 5% uplift in the NAV per Unit on allotment date. Fees and costs of the offer will be paid by PCG.

OFFER NOW OPEN

The offer is scheduled to close on the 10th of April. Capacity is however limited and the offer will close early if it is fully allocated prior to that date. Click here for more information about the offer.

IMPORTANT INFORMATION

Pengana Investment Management Limited (ABN 69 063 081 612, Australian Financial Services Licence No. 219462) (“Pengana”) is the issuer of units in the Pengana Private Equity Trust (ARSN 630 923 643) (the “Trust”). A Product Disclosure Statement for the Trust (“PDS”) is obtainable by contacting Pengana on (02) 8524 9900 or from Pengana’s website at pengana.com/PE1. A person who is considering investing in the Trust should obtain the relevant PDS and should consider the PDS carefully and consult with their financial adviser to determine whether the Trust is appropriate for them before deciding whether to invest in, or to continue to hold, units in the Trust.

[*] Proposed ASX code

[**] Pengana intends that the first four cash distributions following the Trust’s listing will be $0.025 per unit per 6 month period with the first distribution payable for the period ending 31 December 2019. From 1 July 2021, Pengana intends to target a cash distribution yield equal to 4% p.a. (prorated on a non-compounded basis). The targeted distribution will be calculated on a net asset value of the Trust excluding the value of the Alignment Shares. The targeted distribution is only a target and may not be achieved. Investors should review the risk summary set out in section 11 of the PDS.