Investors in Chris Cuffe’s Third Link Growth Fund are gaining access to a number of benefits that would otherwise be out of the grasp of normal retail investors.
The Third Link Growth Fund is a managed fund created by industry veteran Chris Cuffe with the aim of providing an income stream for Social Ventures Australia, a not-for-profit organisation supporting other non-profit initiatives across Australia.
In support of the initiative, the managers listed on the Third Link Growth Fund have waived their normal management fees — including performance fees of up to 20 per cent in some cases. The ongoing management fee of the Third Link Growth Fund is 1.4 per cent per annum, which Cuffe said represents real value for investors.
Furthermore, a number of the managers involved have re-opened previously closed funds to allow investment by Third Link investors only; while others with minimum investment amounts of up to $2 million are opening their doors to Third Link, which has a minimum investment amount of $20,000.
Managers including Paradice Investment Management, Platypus Asset Management, Cooper Investors, Pengana Capital, Eley Griffiths Group, Treasury Asia Asset Management, Magellan Financial Group and Select Asset Management have all waived performance fees of between 10 and 20 per cent.
Other funds within the Third Link Growth Fund, such as the CI Australian Equities and Global Equities funds, Paradice Mid Cap Fund, Orion Australian Share Fund, Pengana Emerging Companies Fund, arkx Carbon Fund, Treasury Asia Asset Management New Asia Fund and the Perennial Global Property Securities Trust normally have a minimum investment requirement of $500,000. The Solaris High Alpha Fund has a minimum of $2 million.
The 1.4 per cent management fee paid by the investor (net of expenses incurred) goes towards supporting the non-profit sector, and there are no entry or exit fees. The fund has a cap of $150 million.
Advisers to Chris Cuffe and the Third Link Growth Fund include Frank Macindoe (Goldman Sachs JB Were), Robert Keavney (Centic Wealth Advisers), Fiona Trafford-Walker (Frontier Investment Consulting) and Stephen van Eyk (van Eyk Research) among a number of other investment experts.
