Performance
Please refer to Fact Sheet for APMF-AUT performance.*
Summary of Terms – Access Fund
| Responsible Entity | Equity Trustees Ltd (AFSL 240975) |
| Investment Manager1 | Ares Australia Management Pty Ltd ABN 51 636 490 732, AFSL 537666 |
| Structure | Registered Australian Unit Trust |
| Investment Objective | The Access Fund invests substantially all its assets in the Class I shares of the Ares Private Markets Fund, a tender fund registered under the Securities Act of 1933 and Investment Company Act of 1940 The Underlying Fund’s investment objective is to seek long-term capital appreciation. In pursuing its investment objective, the Underlying Fund invests in an actively managed portfolio of private equity and other private assets (collectively, “Private Assets”). |
| Minimum Investment | $100,000 |
| Subscriptions2 | Valid requests to purchase units must be received by the fund 10 NSW business days prior to a month end. |
| Distributions3 | Expected to distribute annually, distributions are not guaranteed |
| Redemptions4 | Valid requests must generally be received by the fund 10 NSW business days prior to a calendar quarter end. The Underlying fund may charge a 2% early repurchase fee with respect to any repurchase of its shares at any time prior to the day immediately preceding the one year anniversary of the funds purchase of shares in the underlying fund. If such early repurchase fees are charged by the underlying fund to satisfy a redemption request by investors in the Fund, the fund may, at the discretion of the Trustee, which is to be exercised in consultation with the manager, levy a sell spread to such investors making a redemption in the fund. |
| Investor Eligibility5 | Wholesale investors only |
Summary of Terms – Underlying Fund
| Adviser / Distributor | Ares Capital Management II LLC / Ares Wealth Management Solutions, LLC |
| Structure6 | The Underlying Fund seeks to provide exposure to private markets assets through a closed-end, perpetual-term, tender fund structure that is registered under the Securities Act of 1933 and Investment Company Act of 1940 |
| Management Fee | 1.40% on managed assets7 and debt |
| Incentive Fee8 | 12.5% (subject to high watermark) |
| Expected Liquidity9 | The Underlying Fund expects to make offers to repurchase Shares from shareholders on a quarterly basis. It is anticipated, that under normal circumstances, the Underlying Fund will conduct repurchases of up to 5% of the Fund’s NAV each quarter. Shares tendered for repurchase within the first year after purchase may be subject to a 2% early repurchase fee. |
1. Ares Australia Management Pty Ltd, is a subsidiary of Ares and is an AFSL holder that undertakes financial services as authorised by ASIC.
2. Shares will be offered monthly on the first day of the applicable month. All capital is funded upfront (no capital calls). Subscription requests must be received at least ten business days before the first day of each month, please see the Information Memorandum for more detailed information regarding the subscription process. NAV will generally be available 5 business days after the release of the Underlying Fund’s NAV. Please see the Information Memorandum for more information regarding the subscription process.
3. The Fund usually distributes income annually. Distributions are calculated on the last day of the period and are normally paid to investors as soon as practicable after the distribution calculation date.
4. Redemptions are subject to the repurchase program of the Underlying Fund and are not guaranteed.
5. Please refer to the Information Memorandum for details on investor eligibility.
6. Investors in the Access Fund will be subject to fees and expenses of the Underlying Fund in addition to the Access Fund fees and expenses and will experience lower returns than investors committing directly to the Underlying Fund as a result.
7. Managed Assets is defined as the total assets of the Underlying Fund (including any assets attributable to any borrowings or other indebtedness or preferred shares that may be issued) minus the Underlying Fund’s liabilities other than liabilities relating to borrowings or other indebtedness.
8. For the purposes of the quarterly Incentive Fee, the term “net profits” shall mean (i) the amount by which the net asset value of the Underlying Fund on the last day of the relevant period exceeds the net asset value of the Underlying Fund as of the commencement of the same period, including any net change in unrealized appreciation or depreciation of investments and realized income and gains or losses and expenses (including offering and organizational expenses) plus (ii) the aggregate distributions accrued during the period.
9. Quarterly repurchase offers are intended but not guaranteed. The Underlying Fund’s Board of Trustees may amend, suspend or terminate these share repurchases in its discretion if it deems such action to be in the best interest of shareholders.
Portfolio Managers
Nate Walton
Head of Private Equity Secondaries
Barry Miller
Ares Secondaries Group
CEO, Ares Private Markets Fund
Related Insights
^ Diversification does not assure profit or protect against market loss.
* Past performance is not a guarantee of future results.
Disclaimers
The Fund is only available for wholesale clients as defined in the Corporations Act 2001 of the Commonwealth of Australia (Cth) (the “Corporations Act”).
An investor should consider the Fund’s investment objectives, risks and fees and expenses carefully before investing. This and other important information can be found in the Fund’s Information Memorandum (the “IM”), which an investor can obtain, along with the Fund’s Trust Deed, by calling Equity Trustees Limited, in its capacity as the trustee and the responsible entity of the Fund, at +61 3 8623 5000. The Fund’s units are offered for purchase exclusively through, and subject to the terms of, its IM and Trust Deed, which should be read carefully and in its entirety before making any investment decision. Investors should consult with their financial advisor about the suitability of the Fund for their portfolio.
This website does not constitute an offer to sell, or a solicitation of an offer to buy, any security, including shares of the Fund and APMF. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Any offer of interests or invitation to apply for interests in the Fund will only be extended to a person in Australia if that person is:
(i) a person to whom an offer does not need disclosure for the purposes of section 708 of the Corporations Act; and
(ii) a wholesale client for the purposes of section 761G or section 761GA of the Corporations Act.
The IM and any other materials in respect of the Fund are not intended to be distributed or passed on, directly or indirectly, to any other class of persons in Australia.
This website, in respect of the Fund, is not a disclosure document under Chapter 6D of the Corporations Act or a product disclosure statement under Part 7.9 of the Corporations Act. It is not required to, and does not, contain all the information which would be required in a disclosure document or a product disclosure document. It has not been lodged with the Australian Securities and Investments Commission.
In addition, the IM does not constitute an offer of securities in the United States or to any U.S. Person as defined in Regulation S under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”). The units in the Fund have not been, and will not be, registered under the U.S. Securities Act or the laws of any State, and the Fund is not registered as an investment company under the U.S. Investment Company Act of 1940, as amended. The Fund may not be offered or sold in the United States to, or for, the account of any U.S. Person (as defined) except in a transaction that is exempt from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
Past performance is not a guarantee of future results. An investment in the Fund involves a high degree of risk and therefore should only be undertaken by qualified investors whose financial resources are sufficient to enable them to assume these risks and to bear the loss of all or part of their investment.
The Fund, APMF, AWMS and Ares do not guarantee any level of return or risk on investments and there can be no assurance that the Fund or the Underlying Fund’s investment objectives will be achieved.
An investment in units in the Fund should be considered illiquid. An investment in the Fund is not suitable for investors who need access to the money they invest. Although the Fund may offer to repurchase a limited amount of its units via quarterly tender offers, the Fund’s shares will not be redeemable, transferable or otherwise exchangeable at an investor’s option. As a result, an investor may not be able to sell or otherwise liquidate its units.
Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Ares Australian Private Markets Fund (“the Fund”). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This webpage has been prepared by Ares Management to provide you with general information only. In preparing this webpage, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Ares Management, Equity Trustees nor any of its related parties, their employees or directors, provide and warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product.
This material has been prepared by Ares Australia Management Pty Ltd ABN 51 636 490 732 AFSL 537666 (AAM), the investment manager of Ares Private Markets Fund and is current as at the date of publication. AAM is a subsidiary of Ares Management Corp (“Ares Corp,” together with any of its affiliated entities “Ares”).
About Ares Wealth Management Solutions
As a global brand of Ares Management Corporation, Ares Wealth Management Solutions oversees the product development, distribution, marketing and client management activities of investment offerings for the global wealth management channel. AWMS’ mission is to provide advisors and their clients access to innovative, solutions-oriented investment opportunities across Ares’ platform of industry leading primary and secondary strategies across the credit, private equity, real estate and infrastructure asset classes. Through its range of institutional and retail structures, coupled with excellent client service and educational resources, AWMS helps investors diversify their portfolios with private market solutions that seek to deliver consistent, long-term growth. For more information, please visit www.areswms.com.au.