Fund Specifications

The table below sets out the main characteristics of our TI Growth Fund which is currently open to new investors.

	TI Growth Fund
Fund Structure	Open-ended unit trust
Investment Manager	Technical Investing Pty Ltd (TI)
Objective	To achieve a superior rate of investment return in all types of market conditions, focusing on both short term and long term investment opportunities.  To invest where we see opportunities both domestically and internationally. These opportunities will primarily be in listed companies and can be either long or short positions. We measure performance for our clients as an “absolute” performance, not as a measure against an arbitrary index. As a result, the Fund’s performance may deviate significantly from broader stock indices.
Approach	Our investment strategy is to identify themes and trends through the use of both fundamental and technical analysis. We are thematic in our investment approach. Once a major theme/sector is identified we then drill down and look for individual investments that can offer strong returns. Our investment strategy relies heavily on technical analysis as a timing tool and for risk management. We believe that the market moves in trends and cycles, that human behaviour repeats over time, and that you can track and measure this behaviour. We use a combination of top-down macro analysis together with bottom-up fundamental market and company research to identify major themes and trends in the market.
	TI Growth Fund
Policy	The Fund’s investment guidelines are flexible and aim to provide the Investment Manager with the ability to generate positive returns irrespective of the direction of stock markets. The constitution allows the Manager to use long and short positions in securities including unlisted securities, options, derivatives (including CFDs and index futures), managed investment funds, commodities and foreign exchange.  The constitution also allows the use of leverage. We believe that using technical analysis as a risk management tool will be a key driver in the Fund’s long term success.
Investment Time Frame	3 + years
Volatility / Risk Level	High
Report to Unit Holders	Monthly with detailed quarterly commentary. Top 5 holdings and Sector disclosure
Custodian	One Managed Investment Funds Limited, Sydney
	TI Growth Fund
Fund Flow	Initial Investment1 A$500,000 minimum. Movement of funds last business day of each month. 30 days’ notice for withdrawals.
Valuation Day	Last business day of each calendar month.
Investment Guidelines
Maximum Portfolio Exposure	Long 200% of NAV Short 200% of NAV
Borrowing	100% of NAV
Size of Investments	No minimum size – may have sizeable investments in smaller-cap companies
Currencies	Mainly used to hedge non-AUD exposure
	TI Growth Fund
Fees and Expenses 2 3
Entry Fee	Nil
Exit Fee	Nil 5% for redemption within 12 months. Retained in fund.
Investment Management Fee	Nil
Performance Fee	A percentage (“Fee Percentage”) of the amount by which the Net Asset Value increases above the High-Water Mark.  The fee will be calculated and charged periodically (“Fee Frequency”) in arrears when payable. Any negative performance must be recouped before the Manager is entitled to a further performance fee.
Fee Percentage	25%
Fee Frequency	Monthly
Other expenses	Operating expenses of the fund itself can be paid directly from the fund. Where the Manager pays these costs on behalf of the fund it is entitled to be reimbursed from the Fund.
Buy/Sell spread 4	+/- 0.25%

1 Subject to Investment Manager’s discretion.  Investors must be wholesale investors.

2 For further information on these fees please refer to the Fund’s information memorandum.

3 All figures shown include the Net effect of GST.

4 When you invest or withdraw funds the price you pay/receive for a Unit is adjusted by this buy/sell spread to recover the transaction costs of buying and selling underlying investments in the Funds. This is not a fee to the Manager, it is to ensure that existing Unit Holders are not disadvantaged by other Unit Holders buying or selling Unit.

5 Performance since inception is determined by means of a notional unit price which represents the value of $1.00 invested at inception of the Funds and assumes that all distributions are reinvested – the methodology used has been reviewed and approved by Alea Actuarial Consulting.  Performance on units issued at unit prices below the Fund’s high water mark will vary from the performance of the notional unit price due to fees being paid outside the Fund on such units. Past performance is not necessarily a guide to future performance.  The Fund uses leverage and this may increase risk and volatility.  When comparing the performance of various investments, due regard should be given to the differing levels of leverage, volatility and risk inherent in the investments.

6 This document does not constitute advice and is not a recommendation to buy units in the Fund.  This document does not take any account of an investor’s personal situation.  Investors should seek the advice of a financial advisor.  This document does not represent the mandate or rules of the Fund – the Constitution and Information Memorandum of the Fund serve that purpose.   Information show here can be varied without notice.