Jencay Capital Pty Ltd

Overview

Jencay Capital Pty Ltd is an Australian private investment firm specializing in private equity and venture capital investments. The firm manages the Jencay Australia Investment Fund, a wholesale, ungeared unit trust established in July 2011. The fund aims to generate attractive risk-adjusted returns over the long term by investing in securities trading significantly below their estimated fair value, with a preference for small-cap stocks. Cash is held on deposit when suitable investment opportunities are not available in the market. The fund employs a bottom-up approach to asset allocation between equities and cash, based on the available opportunities. The fund has a small-cap bias, reflecting the manager's belief that the majority of bargains are found among small-cap stocks. The fund has a cap on size and does not engage in direct shorting or leverage, maintaining straightforward and understandable investment strategies. The fund is now closed to new investors but remains open for additional investment by existing unitholders. The fund's key features include a base management fee of 1% per annum excluding GST, a performance fee of 20% of returns above the hurdle rate subject to a high water mark, and no entry fee. The fund's custodian is Apex Fund Services Pty Ltd with JP Morgan as sub-custodian, and the administrator is Apex Fund Services Pty Ltd. The fund's auditor is Pitcher Partners. The fund's investment universe includes securities publicly traded on a recognized securities exchange and cash held on deposit. The fund has a maximum of 40 individual stock/security holdings, with a maximum exposure of 15% to a single security. Distributions are paid annually after June 30 each year, and unit holders can elect to receive distributions in cash or reinvest them in the fund. Redemption requires at least six months' written notice, with an early exit penalty of 5% if the notice is less than six months. The firm's investor type is Private Investment Firm. Its asset class focus includes Private Equity and Venture Capital. Investment stages include Early Stage, Growth, and Late Stage investments. The geographical focus is Australia. Industries of interest include Technology, Healthcare, Financial Services, Consumer Goods, Energy, Real Estate, Media, Telecommunications, Retail, Manufacturing, Transportation, Education, Agriculture, Utilities, and Hospitality. The minimum investment size is $1,000,000, and the maximum is $50,000,000.