Management company
MIMCO Asset Management S.A.S. (MIMCO AM) AMF approval n° GP-21000018
Issuer
MIMCO Grand-Ducal
Legal structure
Limited stock partnership - "Other FIA" status
Domicile and jurisdiction of the fund
France
Target size of commitments
The Management Company targets a total amount of Commitments in the AIF up to a maximum value of €20.000.000,00
Launch date
30/09/2021
Closing date for subscriptions
30/06/2023
Subscription price
At the higher of the nominal value + share premium and the net asset value
Lock-up period
12 months
Distribution target
In fine
Effective date
Commencement date + 90 days
Depository Bank / Registrar
ODDO BHF France
Auditor
Grant Thornton FranceODDO BHF Franc
Ad hoc auditor on the specific benefits conferred
Hermesiane SAS
Use of debt
Capped at 80% of fund assets (leverage of 5)
Subscription fees
2 % Category A (see Information Document)
Early redemption fee
6% on a sliding scale (see Information Document)
Management fee
1,00% of the gross assets of the fund (including 0,76% management fee from the Management Company and 0,24% administrative transaction fee)
Outperformance target
S and A shares: 80% outperformance on the remaining balance above a Priority Income of 7% (see Information Document).
The SCA
Limited stock partnership
Head office : 87 Boulevard Haussmann – 75008 Paris
The AIFM management company
MIMCO ASSET MANAGEMENT
AMF approval n° GP-21000018
Authorised under the AIFM directive
RCS Paris: 898 003 124
Head office: 87 Boulevard Haussmann - 75008 Paris
Phone: +33 1 44 70 04 36
E-mail: [email protected]
Depository Bank / Registrar
Oddo BHF SCA
12 Boulevard de la Madeleine - 75009 Paris
RCS Paris : 652 027 384
Phone : +33 1 44 51 85 00
The auditor
Grant Thornton Paris
29 rue du Pont - 92200 Neuilly-Sur Seine
Phone : +33 1 41 25 85 85
Le commissaire aux comptes
Grant Thornton Paris
29 rue du Pont - 92200 Neuilly-Sur Seine
Phone : +33 1 41 25 85 85
Ad hoc auditor on the specific benefits conferred
Hermesiane SAS
89, Boulevard Haussmann 75008 Paris
Phone : +33.1.47.46.81.44
Investment risks
Investors considering the purchase of shares in the MIMCO Grand-Ducal Real Estate Fund (the "Company") should take into account, among other things, the following specific, non-exhaustive risk factors. Such risks may, individually or together, adversely affect the fund's income and profitability estimates and lead to a decrease in the value of the shares.
Capital risks
The Fund does not provide any guarantee of capital protection. The capital invested is not guaranteed and may not be returned or may only be partially returned.
Discretionary management risks
The Fund may not always be invested in the best performing markets or assets. The performance of the Fund may be less than the management objective and the Net Asset Value of the Shares may experience a negative performance.
Valuation risks
The valuations of the investments are used to determine the write-downs to be recorded on the lines of the investments if their reassessed value is lower than their book value.
No buy-back of Shares
The buy-back of shares is only possible after a lock-in period. At the end of this period, there is no certainty that the buy-back can be obtained.
Subscription and buy-back execution risks
Redemptions are made at the unknown price. The exact number of shares relating to the amount redeemed, rounded down, will be communicated to the investor at the time of publication of the net asset value.
Risk of over-subscription and non-service of certain requests for subscriptions
If the amount of subscription requests exceeds the amount of the transaction in which an Investor wishes to invest, Investors will be served on a first come first served basis.
The subscription may be closed prior to the end of the subscription period. Subscriptions may be closed before the end of the relevant subscription period. In this case, there is a risk that the subscription requests received at the end of the subscription period will not be fulfilled.
Leverage risks
The Company may use debt. Leveraged transactions are by nature subject to a high degree of financial risk. Leverage increases the expectation of gain but also increases the risk of loss.
Risks inherent in any capital investment
The performance of the Fund is directly linked to the performance of the companies in which the Fund is invested, which is subject to numerous risks.
Liquidity risks of the Company's Assets
The fund is a private equity fund that will invest in securities not listed on a financial instruments market. These securities have little or no liquidity. It cannot therefore be ruled out that it may experience difficulties in disposing of its investments within the timeframe and at a desired price level.
Risks related to the estimation of the value of target companies
There is a risk that the net asset values may not reflect the true value of the Fund's portfolio.
Risks related to the characteristics of the investments made by the company
The Fund will invest primarily in Luxembourg companies. Unfavourable developments in the economic, political or social situation in Luxembourg may therefore adversely affect the value of the Fund's portfolio. Furthermore, the Fund will only invest in the real estate sector. Any unfavourable changes affecting this sector, or a related sector, could have an impact on the Fund's performance.
Risks related to the activity of the Fund and/or the target companies
The activities that the Fund wishes to pursue may, in retrospect, have been the subject of an erroneous analysis of market opportunities by management and may not have met with the commercial success expected. The real estate activities carried out by the Fund, through its investments, may be a source of litigation.
Interest rate risks
Financial risk arises from the sensitivity of the Fund's assets to exposure or non-exposure to certain interest rates, notably inflation, and to market fluctuations in interest rates.
Counterparty risks
Failure of a market counterparty to pay may result in a decrease in the Net Asset Value of the Company.
Duration risks
Non-listed investments may take several years to mature. As a result, while the performance of the Fund may be satisfactory over the long term, the performance in the early years may be poor.
Investment sector risks
No assurance can be given as to the performance of a specific investment sector.
Legal and tax risks
There can be no guarantee that the structure of the Fund and/or any investment will be optimal for a particular investor or that a particular tax result will be achieved. Changes in the laws applicable to the Fund could have negative legal, tax or financial consequences for the Fund and investors.
Risks related to terrorism and other crimes
The Fund may be obliged to ask investors, including potential investors, to provide additional information to verify, in particular, their identity and that of their beneficial owners and the origin of the funds used to invest in the Fund. Any subscription may be refused if this information is not provided, or after reviewing the information received. This information may be forwarded to the competent government authorities.
Before subscribing, the subscriber must ensure that their profile, financial situation and objectives are appropriate for the product and consult the Information Document. This document is available from MIMCO Asset Management, 87 Boulevard Haussmann 75008 Paris. The information contained in this document is provided by MIMCO Asset Management.
The value of investments in MIMCO Grand-Ducal shares is inherently subject to change, both upwards and downwards, depending on MIMCO Grand-Ducal's investment objectives or strategies and on economic and market conditions.
Investment in MIMCO Grand-Ducal may involve a risk of capital loss. In view of the economic and market risks, no guarantee can be given that MIMCO Grand-Ducal will achieve its investment objectives.
