Summary

Life Settlements Wholesale Fund is a registered managed investment scheme (ARSN 110 346 695) operated as an open-ended unit trust under the regulatory control of the Australian Securities & Investments Commission. The responsible entity of Life Settlements Wholesale Fund is GI Asset Management Limited (AFSL 432510).

The fund's investment strategy is to generate attractive, risk-adjustment returns over time, by investing in the GIS General Fund, which will actively manage a large and diversified portfolio of life policies, through the life settlements transactions.

The fund is a feeder fund to the new open-ended fund, GIS General Fund, under the umbrella of Global Insurance Settlements Funds PLC.

To learn more about the Global Insurance Settlements Funds PLC, please go to the supportive website www.gisfunds.com

Alternatively, if you wish to know more about Life Settlements Wholesale Fund please contact the investment manager via the contact form.

 

Fund's Key Features

Investment Manager

GI Asset Management Limited (AFSL 432510)

Funds Legal Name

Life Settlements Wholesale Fund (ARSN 110 346 695)

Domicile

Australia

Responsible Entity

GI Asset Management Limited (AFSL 432510)

Asset Category

Insurance-Linked Securities

Structure

Open Ended Unit Trust (currently non-liquid)

Launch Date

May 2006

Investment Horizon

5 years +

Custodian

Perpetual Trustee Company Limited

Minimum Investment

$30,000 if direct, or if via platform then minimum dictated by that service

Product Name

Life Settlements Wholesale Fund - AUD Ordinary Units

APIR Code

LFS0001AU

ISIN

AU60LFS00013

Product Name

Life Settlements Wholesale Fund - USD Ordinary Units

*This no longer has a prospectus in issue

APIR Code

LFS0003AU 

ISIN

AU60LFS00039

Website

www.lifesettlementsfund.com

Contact Email

admin@lifesettlementsfund.com

Contact Phone Number

+61 7 5557 4700

 

Commentary

Investment in the secondary life insurance market remains subdued so our conservative valuation approach remains in place. However, the full face value of each policy, held by GIS General Fund, will be collected in due course.

Bear in mind that the Fund has ongoing premium payments to make on each policy until a claim has been lodged. It is the collection of these proceeds that drives the return and we anticipate an increased number of claims will be lodged over time.

 

April 2020

The LSWF has always benefited from a very low correlation to the traditional financial markets. This is clearly evident in the current tempestuous Equity and Bond markets worldwide.

Investors will recall that in June 2019 there was a large negative movement in the reporting value of the underlying GIS General Fund as we re-underwrote the entire portfolio of policies. This was necessary because of material changes in the revised underwriting tables adopted by our independent assessors at that time.

Since December however, The GIS General Fund portfolio has experienced several policy maturities which we are in the process of collecting. This has had strong positive uplift in the fund in USD terms. Additionally, investors in the AUD denominated LSWF units in the fund have also benefited from positive currency movements. This again demonstrates the benefits of diversified currency exposure.

 

Key Fund Statistics

Net Asset Value (NAV)  for AUD$ AUD$ 12,710,240.08
Net Asset Value (NAV) USD$

USD$ 8,953,093.11

No. of Units on Issue

16,670,411.0786

AUD Ordinary Units (previously Ordinary Units)

Effective 1st November 2020

 

Application price: AUD 0.8498 per unit
* Withdrawal price: AUD 0.8455 per unit
*Note:
1) Unit prices are subject to change without prior notice

USD Ordinary Units (previously AP, Units, EA Units, SA Units)

 Effective 1st November 2020

 

Application price: USD 0.4930 per unit
* Withdrawal price: USD 0.4905 per unit

*Note:
1) Unit prices are subject to change without prior notice
2) The withdrawal price may be subject to adjustment for early redemption

Distributions/Dividends   There are no distributions declared for FYE 30 June 2020. As a result, investors will not be receiving the Tax and Distribution Statement.
Withdrawal Status Please refer to Life Settlements Wholesale Fund News
Financial Reports Please refer to Life Settlements Wholesale Fund News
Continuous Disclosure Please refer to the continuous disclosure section.

 

 

 

 

Important Information: This information is intended for qualifying investors only and was correct at the time of preparation. It has been prepared to provide general information only and should not be considered as a “securities recommendation” or an “invitation to invest” in any jurisdiction. Potential investors should consider the relevance of this information to their particular circumstances. Before proceeding, investors must obtain the prospectus and take their own legal and taxation advice. If you acquire or hold one of our products we will receive fees and other benefits as disclosed in the prospectus and relevant offering documents.