Home Articles Cadence Opportunities Fund IPO (ASX CDO) Priority Offer – Closes 30th November

Cadence Opportunities Fund IPO (ASX CDO) Priority Offer – Closes 30th November

Home Articles Cadence Opportunities Fund IPO (ASX CDO) Priority Offer – Closes 30th November

Cadence Opportunities Fund IPO (ASX CDO) Priority Offer – Closes 30th November

by Henry Fung - Partner Managing Director

MF & Co. Asset Management is pleased to announce that the Priority Offer for the Cadence Opportunities Fund is now open. We would like to invite you to participate in this Listed Investment Company IPO, run by investment managers with a strong track record in generating above market returns.

  • Cadence Capital launches a new Listed Investment Company, Cadence Opportunities Fund (ASX CDO)
  • CDO will have a greater focus on shorter-term price trends than the existing fund, Cadence Capital Limited (ASX CDM)
  • Maximum raise is $100m, before oversubscriptions
  • 1.5% – 2.5% stamping fee for brokers and advisers
  • The manager will pay all fees and expenses of the offer
  • Managers and Directors will be investing $2.28m
  • Broker Firm Offer will close on Friday, 30th November 2018
  • Recommended rating from Independent Investment Research (IIR)

To date, Cadence has received over 3,000 expressions of interest in the Priority Offer.

If you would like to participate in this IPO, please follow the instructions below. Payment needs to be made by 5:00 PM (AEDT) on Friday 30 November 2018 for the Priority Offer. Alternatively, contact your Adviser at MF & Co. who will be able to place the bid for you.

Offer Application

Step 1 – click through to this link to start the application form

https://www.investorserve.com.au/?offerid=0D694F041A724A52B1DD8F2584F21E14

Step 2 – to participate in the Priority Offer, at Step 3e

“Step 3e If you have received an Entitlement Number from Cadence to participate in the Priority Offer, or an Entitlement Number from your financial planner or adviser, please provide the number here.”

Cut and paste the Entitlement Number below into the field

979828317

Quicklinks

About Cadence Opportunities Fund (ASX CDO)

Cadence Opportunities Fund (expected ASX code: CDO) is a newly created investment company that is seeking to list on the ASX and raise up to $100m through the issue of up to 80m fully paid ordinary shares at $1.25 per share. The company can accept oversubscriptions of up to $100m.

Cadence Opportunities Fund (ASX: CDO) is a long-biased (historic net average net exposure of 77%), long-short Listed Investment Company (LIC) investing both domestically and internationally.

CDO tends to invest with shorter duration trends and with smaller initial position size to facilitate more positions being entered and exited earlier within a trend (up to 40 core and 40 trade positions). The strategy is likely to be beneficial in times of volatility and it carries less overall net exposure (more cash on average). CDO looks for opportunities across all sectors, market caps and countries (open mandate), with more than 50% of its investors being SMSFs.

More specifically, the trading approach includes but not limited to placements, share purchase plans, rights issues, takeover arbitrage, dividend arbitrage, dual-listed arbitrage, convertible note arbitrage, underwriting and sub-underwriting, and price action, sell-downs and block trades.

The CDO LIC is run by Cadence Asset Management, with a strong track record in generating above market returns.

Performance

Cadence Capital Limited (CDM) celebrates a 15-year public record and 25 years running private funds. It was rated ‘Recommended Plus’ by Independent Investment Research (IIR). Over the 13 years since inception, it has returned 14.9% pa, outperforming the All Ordinaries Accumulation Index by 8.0% pa. Moreover, it recently generated 18.2% return and 6.4% fully franked yield for the year ended 30th June 2018.

Cadence Opportunities Fund (ASX CDO) - performance

CDM Total Shareholder Return (including franking and dividend reinvestment)

Cadence Opportunities Fund (ASX CDO) - returns

Fees and Expenses

Management Fees of 1.25% paid monthly, Performance Fees of 15% on all positive returns (paid annually), with a high-water mark.

Cadence Asset Management will pay all fees and expenses of the offer, including Legal Fees, Accounting Fees, Distribution Fees, initial float ASIC and ASX Fees.

Board of Directors of CDO

  • Karl Siegling
  • Wayne Davies
  • David Griffith
  • Susan Oakes

Management Team: Cadence Asset Management

  • Karl Siegling
  • Wayne Davies
  • Alan Crozier
  • Charlie Gray
  • Jackson Aldridge
  • Michelle Morgan
  • Kirsty Riley
  • Tracy Xu

Note: Cadence Capital Limited founder, Karl Siegling, is the largest shareholder in CDM and has been invested for 14 years adding substantially to the position over time. Karl Siegling subscribing for $2M in the Offer. In total Board and Management investing $2.28M. Karl’s intention is to add to CDO over time.

Offer Application

Step 1 – click through to this link to start the application form

https://www.investorserve.com.au/?offerid=0D694F041A724A52B1DD8F2584F21E14

Step 2 – to participate in the Priority Offer, at Step 3e:

“Step 3e If you have received an Entitlement Number from Cadence to participate in the Priority Offer, or an Entitlement Number from your financial planner or adviser, please provide the number here.”

Cut and paste the Entitlement Number below into the field

979828317

What are your thoughts? Leave us a comment below.

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This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. You should seek professional investment advice before making any investment decision.

Henry is a co-founder of MF & Co. Asset Management with over 12 years experience as a trader, investor and asset manager. Henry’s focus is on High Net Worth Wealth Management and using algorithmic quantitative trading systems to invest for his clients. Henry also trains new Interns and Advisers on trading and risk management.

Henry is a co-founder of MF & Co. Asset Management with over 12 years experience as a trader, investor and asset manager. Henry's focus is on High Net Worth Wealth Management and using algorithmic quantitative trading systems to invest for his clients. Henry also trains new Interns and Advisers on trading and risk management.