As of June 1st, 2012, the Superfund SICAV Funds will move to daily liquidity and simultaneously offer reduced management and incentive fees. Additionally, the Superfund SICAV Funds will be managed from Austria, where the funds will be fully covered by European standards.
Superfund SICAV Funds – daily liquidity
The dealing frequency of the Superfund SICAV Funds will change to daily starting from June 1st 2012. This means that subscriptions and redemptions are again possible on a daily basis and orders may be received until 2 days before the cut-off day. In 2000, Superfund funds were the first Managed Futures Funds worldwide offering daily liquidity.
Reduction of management Fee by 20%
As of June 1st 2012, the management fee of the Superfund SICAV Funds was lowered to the fee level of our flagship fund, Superfund Q-AG (closed fund). The new management fee for the Superfund SICAV Funds will be 4.8% per annum, which represents a 20% reduction of the current management fee.
Reduction of the incentive fees
The incentive fees, which are only charged when the funds achieve new all-time-highs, were also reduced significantly by 5 percentage points. The incentive fee has been reduced from 25% to 20% for Strategy A, from 30% to 25% for Strategy B and from 35% to 30% for Strategy C. Because current NAVs are below all-time-highs, no incentive fee is charged at the moment and will not be until the funds reach new highs. Many investors regard this as a favorable time for initial investment or reinvestment.*
*) Important notice: This letter is for informational purposes only and constitutes neither an offer to sell nor a solicitation to invest. Such an offer or solicitation will be made only in those jurisdictions where permitted by law and will be preceded or accompanied by a current prospectus and such other offering documents as may be required. Prospective investors should take appropriate investment advice and inform themselves as to the legal requirements, exchange control regulations and taxes in their countries of citizenship, residence or domicile. Subscriptions to Superfund funds are to be made on the terms of the relevant prospectus and/or offering documents and no reliance should be made on the information contained herein. All investment funds managed or distributed by members of the Superfund group of affiliated investment companies are speculative investments. Futures trading is leveraged and speculative and subject to sudden and large losses in value, therefore investors must be prepared to lose all or substantially all of their investment.