Important News for unitholders

31 October 2017

Termination of Concise Mid Cap Fund ARSN 130 041 119

Concise Asset Management Limited (Concise) as responsible entity of the Concise Mid Cap Fund ARSN 130 041 119 (Fund) announces that after nearly 10 years of operation, it has reluctantly decided to terminate and wind up the Fund. In the circumstances, Concise will shortly send to all investors holding units in the Fund notice of termination in accordance with clause 21.1 of the Fund’s constitution, which will also explain the reason for this decision, and next steps.

The termination process will commence on 1 December 2017.

The Fund is now closed to any further issue or redemption of units. Any application for units received before the date of this announcement will be processed, however, any later application will not be accepted and the application money will be returned to the investor. Any request to redeem units received before the date of this announcement will be accepted and the redemption proceeds paid in the usual way. However, no further redemption requests with be accepted.

Pending termination of the Fund on 1 December 2017, the Fund’s assets and liabilities will continue to be actively managed by the Concise management team with a view to realising all of the Fund’s non-cash assets on or as soon as practicable after termination.

At this stage, it is anticipated that winding up of the Fund will be completed as follows:

Event Target date
Complete realisation of all non-cash assets of the Fund 7 December 2017
Discharge or provide for all liabilities of the Fund including all actual or anticipated expenses of termination 14 December 2017
Dispatch final distribution and tax statement to unit holders detailing components of final distribution 19 December 2017
Pay final distribution to unit holders 20 December 2017
Complete and publish on Concise’s website (at conciseam.com.au) final audited financial report for the Fund 22 February 2018
Dispatch final periodic statement to unit holders 29 February 2018

These dates are indicative only. Concise reserves the right, subject to the Corporations Act 2001 (Cth) and the Fund constitution, to change any date.

Click here for the Termination Letter to Unitholders

Latest Unit Price

  • Date: 22 November 2017
  • Application price: 1.1709
  • Redemption price: 1.1639
  • Mid price: 1.1674