• About ASX: AGX1
• Investment objective
• Monthly NAV and investment updates
• Research reports

About ASX: AGX1

The Antipodes Global Shares (Quoted Managed Fund) (ASX: AGX1) is an Australian registered managed investment scheme where units are quoted and traded on the Australian Securities Exchange (ASX) under the ASX AQUA Rules.

At regular intervals during each trading day (and having regard to the Funds latest portfolio intra-day positions and market valuations) the Funds indicative Net Asset Value per unit  is calculated and published on this website (the intra-day iNAV per unit).

At the end of each trading day (and having regard to the Funds end of day portfolio positions and market valuations) the Fund’s end of day Net Asset Value per unit is calculated and published (the NAV per unit).

Investors can enter and exit AGX1 by buying and selling Units on the ASX in the same way as other ASX quoted securities. The price at which Investors enter and exit the Fund will be the price at which they buy or sell the Units on the ASX. The Responsible Entity, on behalf of the Fund, may provide liquidity to the market by acting as a buyer and seller of Units. The Responsible Entity has appointed Deutsche Securities Australia Limited as market-making agent.

Managed Fund Units – Fully Paid (ASX Code : AGX1 / ISIN AU000000AGX1)

Benefits

Investing in the Fund offers investors a range of benefits, including:

• the ability to trade Units on the ASX during normal ASX trading hours;
• the ability to track the performance of the Units on the ASX in a transparent manner;
• access to Antipodes’ well-resourced and experienced team which manages the Fund using a disciplined investment approach aimed at delivering attractive long-term returns;
• long-term alignment between the Investment Manager and investors in the Fund due to Antipodes being majority owned by its investment team with a performance culture underpinned by sensible incentives;
• prudent risk management; and
• participation in any capital appreciation and income distributions of the Fund.

Investor Profile

The Fund is not suited to investors who:

• expect returns to mirror or better an index at all times;
• expect to make significant short-term gains. The minimum suggested investment period for the Fund is five or more years; or
• cannot tolerate that there may be substantial fluctuations in the value of their investment. Equity markets are volatile, and fluctuations will occur in the value of your investment in the Fund.

Investment objective

The Fund’s investment objective is to outperform the Benchmark over the investment cycle (typically 3-5 years), before fees,costs and taxes are deducted. The Fund’s performance benchmark is the MSCI All Country World Net Index in AUD.

The Fund typically invests in a select number of attractively valued companies listed on global share markets (usually a minimum of 30 holdings). In the absence of finding individual securities that meet Antipodes’ investment criteria, cash may be held.

The Fund is also permitted to utilise exchange traded derivatives for risk management purposes and to achieve equity exposure. Derivative use is subject to the specific restrictions that such instruments cannot be used to gear portfolio exposure and that the underlying effective face value is limited to 10% of the net asset value of the Fund (unless used to manage currency risk).

The Fund will only use derivatives in the following three scenarios:

(a) for the dominant purpose of managing foreign exchange or interest rate risk;

(b) for the dominant purpose of more efficiently gaining an economic exposure, through the use of exchange-traded derivatives, to the underlying reference assets of those derivatives, but only on a temporary basis (i.e. for a period of less than 28 days, which cannot be extended by rolling over or replacing the derivative); or

(c) use of exchange-traded derivatives, provided the notional derivatives exposure of the Fund does not exceed 10% of its net asset value (unless the exposure is attributable to circumstances that were not reasonably foreseeable by the Responsible Entity, such as unforeseen market movements or large redemption requests, and the exposure is for a period of no more than three consecutive business days).

These three exceptions operate independently of each other. For example, where the Fund uses exchange-traded derivatives for the dominant purpose of managing foreign exchange or interest rate risk, this does not count towards the 10% notional derivatives exposure limit for exchange-traded derivatives in accordance with ASIC Regulatory Guide 240.12.

Currency exposure will generally reflect the currency of the underlying securities. However, where the Investment Manager believes there is a strong likelihood of a decline in the underlying currency, currency derivatives (both over-the-counter and exchange traded) may be used to hedge the portfolio’s currency exposure. Currency hedging is subject to the specific restriction that such derivatives cannot be used to gear portfolio exposure.

The Fund will not engage in short selling.

Monthly NAV history and investment update

The Fund’s monthly Investment Update & NAV history will be published here each month.

• December 2017 NTA and investment update

Research reports

• Any available research reports will be published here (Zenith and Lonsec etc). Available to Financial Advisers only.

• Investment Manager
• Fees
• Distributions
• Document archive

Investment Manager

Antipodes Partners Limited (ABN 29 602 042 035) has been appointed as the Manager for the implementation of the AGX1’s investment strategy. Antipodes Partners Limited is a boutique fund manager specialising in global equities.

Investment team

The Manager’s investment team (Antipodes Investment Team) comprises experienced investment professionals all with deep expertise across different markets. With over 100 years of collective global investment experience, the members of the investment team have each seen multiple market cycles. The Company will draw upon and benefit from this depth and breadth of experience in the construction and maintenance of the Company’s portfolio. The Antipodes Investment team biographies can be found here

Fees

Management Fee
A management fee of 1.10% per annum is payable to the Investment Manager for managing the investments of the Fund. The management fee is calculated daily based on the net asset value of the Fund, reflected in the unit price and deducted from the Fund quarterly in arrears.
Performance Fee
A 15% performance fee is payable on the Fund’s excess return versus its benchmark, net of the management fee. The performance fee is calculated and accrued each business day and is payable half-yearly, if applicable.

Distributions

Distributions will generally be made annually at 30 June. The Responsible Entity, Pinnacle Fund Services Limited ABN 29 082 494 362 AFSL 238371, has the discretion to make interim distributions during the financial year. Further details are available in the PDS.
Reinvestment of distributions
Unless an election is made to the contrary, Investors’ distributions will be re-invested as additional Units in the Fund, subject to the terms and conditions of the Fund’s distribution reinvestment plan.

An election by an Investor to not participate in the distribution reinvestment plan must be made by the election date announced by the Responsible Entity in respect of each relevant distribution. Once an Investor has elected to not participate in the distribution plan, that Investor’s distributions (including all future distributions) will be paid out as described in the below paragraph until such a time that the Investor elects back in to the distribution plan. Such an election must be made by the election date announced by the Responsible Entity in respect of each relevant distribution.

Where an Investor elects to not participate in the distribution plan, distributions will be paid directly into Investors’ Australian dollar or New Zealand dollar bank accounts (as applicable). Investors should contact their share trading platform or stockbroker to ask how they can provide bank account details or otherwise they can provide their bank account details online via the Unit Registry’s website at www.automic.com.au. Investors may also provide bank details by submitting a form which is available from the Unit Registry.

Further details are available in the PDS.

The Company’s investment objective is to maximise total shareholder return via a combination of capital growth and income, with the aim of allowing fully franked dividends to be paid to shareholders when possible.  Whether dividends are declared is at the full discretion of the Board.  The Board will only exercise its discretion if the Company has sufficient profit reserves and franking credits available and it is within prudent business practice to do so. The Company intends to pay a dividend to shareholders at least annually, subject to available profits, cash flow and franking credits. The Company has established a dividend reinvestment plan for shareholders.

Document archive

Annual reports

The Annual Report will published here

• APL Options Expiry
• Your APL Option Choices
• Contact Boardroom
• APLO FAQS

APL Options Expiry

Antipodes Global Investment Company (ASX:APL) options, over the Company’s shares (ASX:APLO) cease trading on the ASX on 9 October 2018 and expire on 15 October 2018 at 5pm AEDT.

By exercising your options on or before expiry, you are entitled to subscribe for one APL share at $1.10 (the exercise price) for each option you own. If you choose to exercise your options, no brokerage costs will be incurred.

Your APL Option Choices

Your choices to consider before your options expire include:

1. Exercise your options
To exercise your options, calculate the amount payable (the number of options you wish to exercise multiplied by $1.10). Then either:

a) Pay this amount by BPAY – the simplest way to exercise your options is to make a BPAY payment using the biller code and reference number located on your options exercise form. If you do this, you do not need to send in any forms. For a copy of your personalised options exercise form please contact Boardroom OR

b) Complete the ‘Application for Shares on Exercise on Options’ form.

If you have any enquiries completing the form, please call Boardroom Pty Limited, directly on 1300 737 760 or by email at corporateactions@boardroomlimited.com.au and pay by cheque (made payable to ‘Antipodes Global Investment Company Limited’).

Return the form and cheque to Boardroom as outlined below.

Once your funds have cleared, new shares in the Company will be allotted to your account and you will receive an updated holding statement.

2. Sell your options on market

In the event you choose not to exercise your options, you may sell your options on market before market close on 9 October 2018. The options that were allotted to shareholders as part of the IPO represent a value; please click here to view the current option price.

If you wish to sell your options, please contact your broker or trading platform.

3. Take no action

If you do not sell your options before market close on 9 October 2018 or exercise your options prior to 5pm AEDT on 15 October 2018, the options will expire.

Contact Boardroom

For a copy of your personalised ‘Application for Shares on Exercise on Options’ form, please visit the portal www.investorserve.com.au. Alternatively contact Boardroom Registry on 1300 737 760 or email corporateactions@boardroomlimited.com.au.

If you are sending in your completed form and cheque, please post to the mailing address below and allow enough time for postal delivery. Your completed form and payment must be received by no later than 5pm (AEDT) on 15 October 2018.

Depending on your location in Australia regular post can take between 3 and 6 days.

APL FAQS

Key Dates For Options Exercise

Table of Contents

Completing the Options Exercise Form

• A1 How do I complete the application form & how do I pay for my options?
• A2 Who do I make the cheque payable to?
• A3 Who must sign the form? / Is a signature required?
• A4 Where do I send my completed personalised options exercise form and payment?
• A5 Can I pay via BPay?

Options Exercise Questions

• B1 What are the option terms?
• B2 How many options can I exercise?
• B3 When do my options have to be exercised?
• B4 Can I sell my options?
• B5 Can I buy additional options?
• B6 What if I do nothing?

Unitholder Enquiries

AGX1

You can access your unit holding online at Automic

If you have any further queries relating to your investment, please visit the Unit Registry https://automic.com.au or make contact via the following:

Phone: 1300 288 664

Email: hello@automic.com.au

We encourage you to provide us with your preferred phone number and email for future correspondence, as well as update your bank details for any potential future payments.

Stock exchange: Australian Securities Exchange (ASX) www.asx.com.au
ASX short code:

• Managed Fund – Fully Paid Units – AGX1