Healthbridge Capital
The Fund operates in the health services sector predominantly in the business of facilitating the creation, and supporting the operation, of health services businesses in the Australian market.
The Fund will operate in the health services sector predominantly in the business of facilitating the creation, and supporting the operation, of health services businesses in the Australian market. The Fund will be providing capital and financial accommodation to health services professionals to acquire, establish and operate health service businesses.
The financial accommodation will include the following:
- finance to health professionals to acquire or fund the development of health service businesses and for fixtures, fittings and equipment in those businesses (Facility Finance); and
- financial accommodation through a wholesale distribution for inventory and other consumables in the health service business (Capital Facility).
Investment Objective
The investment objective of the Fund is to provide a steady stream of capital over the medium term by providing capital finance to health professionals and health services businesses with stable cash flows throughout the business cycle.
Significant Benefits
Investing in the Fund offers investors a range of benefits, including:
- regular income distributions;
- access to an investment in the health services sector; and
- an investment manager whose team has long running expertise in financing the healthcare sector.
Investments
The Fund will operate in the health services sector predominantly in the business of facilitating the creation, and supporting the operation, of health services businesses in the Australian market. The Fund will be providing capital and financial accommodation to health services professionals to acquire, establish and operate health service businesses. For example the Fund invests in inventory stock for the Pharmacy4Less Pharmaceutical chain.
Financial accommodation will include the following categories of investments:
- capital finance directly to health professionals to acquire or fund the development of health service businesses and to finance fixtures, fittings and equipment in those businesses (Facility Finance). The Facility Finance will be in the form of a capital facility charging a facility rate based on the capital provided for the beneficial right to use the Facility Finance;
- financial accommodation for inventory, wholesale supplies and other services provided to the healthcare business (Capital Facility), through a facility with Gains Retail Group Pty Limited (‘Gains Retail’), who are experts in inventory management for health services businesses. With the Capital Facility.
Gains Retail will make inventory available through consignment and profit from their wholesaling activities. The return on the Capital Facility will be a mark-up fee paid on the financial accommodation when an item of inventory is sold by the health service business on consignment for Gains Retail.
Security for each of the above categories of investments will be a registered charge over the assets of the businesses to whom the facility is provided. In the case of the Capital Facility, the security will be a fixed and floating charge over the assets of Gains Retail and a fixed charge over the shares in Gains Retail.
Healthbridge Investments adopts a unique investment philosophy which avoids the following:
- Dealing with items of known poor health outcomes such as alcohol and cigarettes;
- Disregarding environmental responsibility such as using non-renewables, coal, oil, and energy which pollute the climate;
- Vice or immoral matters such as gambling and pornography;
- Banks and other conventional lenders where there is potential in paying or charging interest;
- Speculative businesses entering into contracts where the ownership of goods/assets depends on an uncertain event in the future; and
- Uncertainty and risk from contracts with excessive risk exposure.
- Is Shariah compliant and certified.
Withdrawal requests can be made after 12 months from the Initial Investment Date.
Redemption requests will be processed quarterly as at each Redemption Date, being 31 March, 30 June, 30 September and 31 December. The payment of the redemption proceeds for each Redemption Date will normally be made within 50 business days after the Redemption Date.
This information is issued by Healthbridge Investment Management Pty Ltd (ABN 89 631 971 081) (Corporate Authorised Representative (CAR 1277945) of Quay Fund Services Limited AFSL 494886) as investment manager for the Healthbridge Capital (the ‘Fund’). It contains summary information only to provide an insight into the operation and performance of the Fund. Any information or advice is general in nature. This information does not constitute advice or recommendations, and is subject to change without notice. It does not take into account the objectives, financial situation or needs of any investor which should be considered before investing. Investors should consider a copy of the Product Disclosure Statement (PDS) and Target Market Determination which is available from us, and seek their own financial advice prior to investing. The disclosure document explains how the Fund’s Net Asset Value is calculated. Returns are calculated from exit price to exit price assuming the payment of any distributions for the period as stated and represent the combined income and capital return. For a copy of our Financial Services Guide (FSG), please go to our website: www.healthbridgeinvest.com.au.
None of Healthbridge Investments, its respective officers, employees, agents, advisers or any other person named in this presentation makes any representation as to the accuracy or likelihood of fulfilment of the forward looking statements or any of the assumptions upon which they are based. To the extent permitted by law, Healthbridge Investments and its respective officers, employees, agents and advisers give no warranty, representation or guarantee as to the accuracy, completeness or reliability of the information contained in this presentation. Further, none of Healthbridge Investments or its respective officers, employees, agents and advisers accepts, to the extent permitted by law, responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, this presentation. Any recipient of this presentation should independently satisfy themselves as to the accuracy of all information contained herein.
This presentation is provided to you strictly on a confidential basis and the information contained herein must not be reproduced or redistributed in any format without the express written consent of Healthbridge Investments.
All financial products involve risks. You should seek independent financial advice prior to acquiring a financial product. Past performance is not a reliable guide to future performance and the capital and income of any investment may go down as well as up due to various market forces. All performance figures are confirmed by the Fund’s administrator. Healthbridge Capital was established on 3rd October 2019.
Healthbridge Investment Management Pty Ltd (‘Investment Manager’ or ‘Healthbridge Investments’) brings together a professional team who have a diverse background in the medical, pharmaceutical and funds management industries.
Healthbridge Investments’ mandate as a fund manager will seek to provide capital to support healthcare professionals who are serving the community to improve their health wellbeing as well as their quality of life. Such healthcare professionals could be medical practitioners, dentists, pharmacists or other highly skilled professionals within the healthcare industry.
Healthbridge Investments will seek to ensure that the investment returns are made across assets within the healthcare sector that seek to enrich and support community health and wellbeing. Healthbridge Investments’ team has extensive experience in raising and managing funds as well as assessing opportunities to acquire pharmaceutical businesses.
Healthbridge Investments will appoint an Investment Committee whose role will be to:
- Monitor performance of the Fund;
- Review, and amend policies in relation to investment management activities;
- Set investment objectives for each investment option;
- Monitor and report on each appointed underlying investment advisor or service provider;
- Review and approve any changes to investments; and
- Report to the board of Healthbridge Investments who in turn will report to the Quay as the responsible entity
The Investment Committee will be appointed by the Healthbridge Investments’ board of directors in accordance with the Investment Committee Charter.
Chaaban joined Healthbridge Investments in December 2018 as Director of Funds Management and Compliance Officer with more than 30 years in the financial services industry.
Chaaban is the former Managing Director at MCCA, Chief Operating Officer at Quordoba Investments and former Chief Executive Officer for Crescent Wealth which established retail managed investment schemes operating under ethical and Islamic finance investment principles. Chaaban was instrumental in establishing Crescent Wealth and its range of investment options, as Australia’s first and only end to end Islamic Superannuation Fund. Chaaban was also instrumental in the establishment of a Shariah compliant direct property fund manager Quordoba Investments. Chaaban was the Responsible Manager and Compliance Officer on the Crescent Wealth and Quordoba Investments Australian Financial Services licenses.
Chaaban has been a Senior Consultant in the Superannuation Industry having worked for IOOF, Perpetual, MLC, CFS and Link Group.
Assad Karem is a Pharmacist by profession and has over 25 years of experience in various areas of the health and medical services industry. He has managed a portfolio of assets in the healthcare and medical sectors across Australia.
His retail pharmacy experience began as a managing partner in the Blooms the Chemist Group for 6 years after graduated from the Sydney University in 1992. Over the next 20 years he was a franchisee of several Priceline Pharmacies. Assad co-founded Pharmacy 4 Less Discount Chemist in 2007 and is the co- managing director of this growing franchise group. In 2018, Pharmacy 4 Less won Canstar’s 5 star overall satisfaction rating from the well-respected consumer assessment group.
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When funds are received they sit in the trust account until the beginning of the following month. For example – your funds received prior to 31st January 23 will be invested on 1st February 2023. On the 1st Feb you will receive units, expected to be at $1.0000 each and a link to establish your online account to monitor your investments. You will not receive a holdings statement nor a link to establish your online account until units are issued to you.
The fund does not currently have an income reinvestment scheme. As such all income must be paid to the investors bank account (3rd party bank accounts not permitted as per Anti-Money Laundering legislation).
Within 50 business days from the end of the calendar month. The table below provides an indicative timetable of income distribution payments for each calendar month.
|
Month |
Paid to unit holders with units at this date (“record date”) |
Indicative payment date (within 50 business days)* |
Tax financial year |
|
January 23 |
31 January 23 |
14 March 23 |
2022/23 |
|
February 23 |
28 February 23 |
14 April 23 |
2022/23 |
|
March 23 |
31 March 23 |
14 May 23 |
2022/23 |
|
April 23 |
30 April 23 |
14 June 23 |
2022/23 |
|
May 23 |
31 May 23 |
14 July 23 |
2022/23 |
|
June 23 |
30 June 23 |
14 August 23 |
2022/23 |
|
July 23 |
31 July 23 |
14 September 23 |
2023/24 |
|
August 23 |
31 August 23 |
14 October 23 |
2023/24 |
|
September 23 |
30 September 23 |
14 November 23 |
2023/24 |
|
October 23 |
31 October 23 |
14 December 23 |
2023/24 |
|
November 23 |
30 November 23 |
14 January 24 |
2023/24 |
|
December 23 |
31 December 23 |
14 February 24 |
2023/24 |
* public holidays not taken into consideration so these dates are just an indication
The income distribution is classified as Other Australian Assessable Income, not interest nor dividends.
Generally the fund is illiquid, however the fund does allow four windows in the year where it permits withdrawals from the fund, proceeds are normally paid within 50 business days from the quarter end month (see below “Relevant Date”)
Redemption Schedule after you receive 12 months of monthly income distributions.
|
Quarter end “Relevant Date” |
Paid within 50 business days from relevant date. These dates are indicative and will vary depend upon each calendar year. |
When is the redemption form required by |
|
31 March |
14 June once March distribution NAV* is calculated and paid |
1st March |
|
30 June |
14 Sept once June distribution NAV is calculated and paid |
1st June |
|
30 September |
14 Dec once September distribution NAV is calculated and paid |
1st September |
|
31 December |
14 March once December distribution NAV is calculated and paid |
1st December |
* NAV – Net Asset Value is calculated monthly by Ascent Fund Services which delivers a unit price cum distribution and ex-distribution. Cum distribution unit price will include the distribution before it is paid to the unitholders. Ex-distribution unit price will exclude the distribution once it is paid. Unit prices will only temporarily include the distribution from the time it is calculated to the time it is paid. When all assets are operating at full capacity the unit price is expected to be $1.0000.
Unitholders should email investor services at investors@healthbridgeinvest.com.au and request a redemption form.
No. When the fund receives a redemption form, we start to increase the cash holdings to cover the redemptions. The cash holdings earns no interest nor is it invested.
It is possible. Unitholders are advised to read the risk section of the PDS and the TMD to understand the risk profile of the fund to ensure it meets an investor's personal financial circumstances.
Generally, the capital losses are absorbed by all unitholders and included in the monthly NAV unit price calculation.
Hypothetical example – Assuming we have invested $1m in one store which is rendered insolvent. Generally, the loss will be reflected as follows:
Loss $ / Units on issue
$1,000,000/32,000,000 = 0.03125
$1.0000 – $0.03125 = $0.96875
The value of the 32 million units will now be $0.96875
In addition to the capital loss will be the loss of monthly income distribution which was being generated from the same insolvent store.
Note – the fund has not lost any capital since its inception and assets are regularly monitored for performance.
Any investor who is not a resident for tax purposes will incur a withholding tax rate of 10% on all income distribution payments.
Since the fund is domiciled in Australian currency we also prefer Australian bank accounts. However investors may provide their international bank accounts. However there are additional processing fees associated with international bank account payments. The fund will charge $AUD40 per monthly income distribution to cover the cost of processing the payment.
Investors will need to consider the effect of foreign exchange fluctuations from AUD to their local currency.
An Off Market Transfer of unit holdings is where unitholders of existing units privately choose to transfer the units to another unitholder. The process involves completing an Off Market Transfer Form to transfer a holding of units from a seller of units to a buyer of units. Often buyers will receive an incentive to buy the units which usually have an income distribution attached to the units since they are buying existing units not new units.
Generally, if you are investing more than $500,000 or your net worth is greater than $2.5m you may be defined as a wholesale investors. You may ask for a wholesale rebate from Healthbridge Investment Management Pty Ltd of up to 0.4% (inclusive of GST) once you have received 12 months income distribution. This rebate will occur between the investment manager and the wholesale unitholder. This is only available for the first 12 months only.
Product Name: Healthbridge Capital
APIR Code: QFS6590AU
ISIN: AU60QFS65908
An APIR Code is a unique identifier issued by APIR® to participants and products within the Financial Services Industry.
An International Securities Identification Number (ISIN) is a 12-digit alphanumeric code that uniquely identifies a specific security. The organization that allocates ISINs in any particular country is the country’s respective National Numbering Agency (NNA).
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Assets Under Management at 31August 2023 is $AUD34,229,843
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The issuer of this product is identified at the top of this page. The PDS and target market determination for the product are available in the Documents section of this listing. Prospective investors should consider the PDS before deciding to acquire the product. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets (Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
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