Updates for Investors
Latest update - 13 August 2013
Since the Multi Strategy Funds' previous termination payment in May 2012 we have continued to explore all options for a sale of the remaining assets.
There are seven underlying positions remaining that make up less than 1% of the value of the Multi-Strategy Funds as it was at March 2009, all of which are illiquid or have redemption restrictions.
Our latest information on each of the remaining positions indicates that we may be able to achieve final wind-up of the Multi-Strategy Funds by March 2014. The realisation of the remaining assets may result in selling the assets at a discount to their current valuation.
We remain committed to winding up the Multi-Strategy Funds as soon as possible while at all times being cognisant of our fiduciary obligation to act in the best interests of all unit holders.
We will provide a further update in relation to the wind-up of the Multi-Strategy Funds as soon as it becomes available.
We will continue to update this web page with monthly performance and any material information relating to the Multi-Strategy Funds. If you have any questions please contact our Fund Services team on 1800 034 494 or via email at email@example.com.
25 May 2012
The remaining assets which represent approximately 1% of the value of the assets at 31 March 2009 are illiquid and the timeframe for receipt of further proceeds remains unclear. We are exploring options for a sale of the remaining portfolio which may result in selling the assets at a discount to their current valuation. We remain committed to winding up the Multi-Strategy Funds as soon as possible while at all times being cognisant of our fiduciary obligation to act in the best interests of all unit holders.
26 August 2011
We remain committed to winding up the Multi-Strategy Funds as soon as practicable. We are working with Federal Street to assess all options for liquidating the remaining illiquid part of the portfolio while at all times being cognisant of our fiduciary obligation to act in the best interests of all unitholders.
28 February 2011
After the targeted August 2011 payment, the remaining portfolio is likely to represent 3% of the value of your units at 31 March 2009.
1 September 2010
With the September 2010 payment, investors have now received four termination payments totalling approximately 85% of the value of the units at 31 March 2009.
23 July 2009
A decision was made to discontinue the foreign currency hedging of the Multi-Strategy Funds with immediate effect from 23 July 2009. As a result of the ongoing realisation of assets and subsequent distribution of cash to investors, the proportion of illiquid assets in the remaining portfolio has increased. This reduced liquidity means that we are no longer able to effectively hedge the foreign currency risk. The remaining assets in the portfolio are denominated in US dollars and the value of your investment will fluctuate with moves in the AUD/USD exchange rate.
2 February 2009
A decision has been made by Goldman Sachs Australia Managed Funds Limited (formerly known as Goldman Sachs & Partners Australia Managed Funds Limited) to terminate the Multi-Strategy Fund ARSN 104 751 135, the Retail Multi-Strategy Fund ARSN 104 764 883 and the Multi-Strategy Fund IDPS ARSN 114 217 622 (together ‘the Multi-Strategy Funds’), with effect from 2 February 2009. We appreciate that the volatility and uncertainty in financial markets has made this a difficult time for investors. We will endeavour to realise the Multi-Strategy Funds’ assets and return the proceeds to investors as quickly and effectively as possible, with a number of payments likely to be made over approximately two and a half years.
Performance as at 30 September 2013
Past performance is not a reliable indicator of future performance. The total net fund returns shown are prepared on an exit to exit basis (i.e. they include all ongoing fees and expenses, assume reinvestment of all income distributions and exclude return of capital payments.). They do not take taxation into account.
*June 2002 †July 2003 ‡ July 2005
We will publish a monthly unit price for the Multi-Strategy Funds on our website for as long as it is reasonably practicable to continue to calculate this.
How will investors be kept up to date on the process for receiving investment proceeds?
Any new information that we consider is material to investors will be made available on this page. We will also communicate any such information directly to investors.
Should you require any further information in regard to your investment, please speak directly with your financial adviser, or alternatively contact our Fund Services team on 1800 034 494 between 8.30am to 5.00pm Monday to Friday (AEST) or via email, firstname.lastname@example.org.