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Please note: This offer is now closed
Valad Opportunity Fund No. 12 (the "Fund" or "VOF12") offers investors a unique opportunity to participate in property development and repositioning style returns through the active development or repositioning of five projects located in New South Wales, Queensland and Victoria.
Valad are retaining a significant holding in the Fund, ensuring an alignment of interests.
The offer is underwritten by National Australia Bank (NAB).
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Additional Disclosure
Recent stock exchange movements have resulted in a triggering of the market out provision in the VOF 12 Underwriting Afreement (as more fully described in the PDS) giving NAB the option to withdraw. At this stage (until further notice from NAB) the Underwriting Agreement remains on foot with the offer proceeding on the basis set out in the PDS.
If NAB withdraws and a shortfall arises, the offer would be withdrawn and any application money returned with interest. Investors will be advised of any further material developments on the underwriting arrangements as they become available.
Fund: Applications close 26 May 2008
Minimum investment: 10,000 Units at $1.00 per Unit
Issuer: Valad Commercial Management Limited
Key features of the Valad Opportunity Fund No. 12:
- Target IRR1 of 17%2 plus (pre-tax and after all expenses)
- Short-term horizon - expected term is four and a half years with liquidity event at five years
- Property repositioning style returns - not frequently available to retail investors
- Diversification - good geographic and asset class diversification
- Valad is an experienced manager with over $20 billion of assets under management and a strong track record
Further Information
For further detail on the Valad Opportunity Fund No. 12, please refer to the Fund Product Profile
We have attached a Product Disclosure Statement for the offer. Investors should obtain and consider the Product Disclosure Statement for the offer of investments in the Fund before deciding whether the investment is appropriate for them and whether to acquire units in the Fund.
Our Financial Services Guide is also attached. This sets out NAB’s role and the fees it will receive in respect of the proposed offering. You should read the FSG in conjunction with the other information contained on this page.
1. IRR or Internal Rate of Return - the discount rate that results on a net present value of zero for a series of future cash flows. The IRR is generated by an investment over its life or a given timescale, taking into account the purchase price and sale proceeds and all cash flows associated with the holding.
2. This is not a forecast and should not be relied upon as such, The target return is based on certain assumptions and is subject to investment risks.
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