Management company
MIMCO Asset Management S.A.S. (MIMCO AM) AMF approval n° GP-21000018
Issuer
MIMCO Revitalize
Legal structure
Mutual fund
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 €100.000.000,00
Launch date
30/11/2021
Closing date for subscriptions
31/12/2025
Subscription price
The higher of (i) the initial net asset value and (ii) the first net asset value following subscription, plus the contribution to the shareholder's current account for A1, B and S units, plus any equalisation premium for A1, A2 units (see Prospectus)
Share class - ISIN code
Class S – FR0014006839
Class A1 – FR0014006813
Class A2 – FR0014006862
Lock-up period
12 months
Distribution target
A1 / S – Quarterly distribution
A2 – Annual capitalisation
Minimum subscription
S – €100.000 + 40% current account advance
A1 – €100.000 + 40% current account advance
A2 – €140.000
Effective date
Last day of the subscription period + 90 days
Depository Bank / Registrar
ODDO BHF France
Auditor
Grant Thornton France
Subscription fees
0%
Early redemption fee
7% after 12 months then decreasing gradually to 0% after 72 months (see terms in the Prospectus)
Operating and management costs of the SIF
2.86% of the net assets of the Fund
Outperformance target
S shares: outperformance of 80% of the IRR portion exceeding the 7% threshold
A1 shares: outperformance of 70% of the IRR portion exceeding the 6% threshold
A2 shares: outperformance of 70% of the IRR portion exceeding the 7% threshold
FCP
Fonds Commun de Placement
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
Auditor
Grant Thornton France
29 rue du Pont - 92200 Neuilly-Sur Seine
Phone : +33 1 41 25 85 85
Investment risks
Investors considering the purchase of shares in the MIMCO Revitalize (the SPF 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.
Discretionary management risks
The management style of the SPF is based on anticipating the evolution of the various markets and/or on asset selection. There is a risk that the SPF may not be always invested in the best performing markets or properties. The performance of the SPF may be less than the management objective and the Net Asset Value of the SPF may show a negative performance.
Real estate risks
The investments made by the SPF will be subject to the risks inherent in the holding and management of real estate assets. In this context, the performance and the evolution of the invested capital are exposed to the risks linked to changes in this asset class. A wide range of factors (generally related to the economy or more specifically to the real estate market) may have a negative impact on the value of the real estate assets held by the SPF and may result in a decrease in the Net Asset Value. No guarantees can therefore be given as to the performance of the property assets held by the SPF.
Capital loss risks
The SPF does not provide any guarantee of capital protection and investors are warned that their capital is not guaranteed and may not be returned or may only be partially returned. Investors should not invest in the SPF if they are unable to bear the financial consequences of such loss.
Risk related to investment liquidity
In line with the investment strategy, the investments targeted by the SPF are primarily real estate assets. As the real estate market may, in certain circumstances, offer less liquidity, liquidity risk arises from the difficulty in selling physical real estate assets quickly.
Risk related to debt
The SPF may use debt to finance some of its investments, with the ratio of direct and indirect bank and non-bank debt not exceeding 85% of the value of the property assets. Under these conditions, fluctuations in the property market may significantly reduce the debt repayment capacity and fluctuations in the credit market may reduce the sources of financing and significantly increase the cost of that financing. The effect of leverage is to increase the investment capacity of the SPF but also to increase the risk of loss, which may result in a risk of a decrease in the Net Asset Value.
Credit risk
The SPF may be invested in government bonds and thus be exposed to the possible risk of downgrading of the issuer's credit rating or default of the issuer. The level of credit risk varies according to expectations, maturities and the degree of confidence in each issuer, which may reduce the liquidity of the securities of a particular issuer and have a negative impact on the net asset value of the SPF.
Interest rate risks
The SPF may be exposed to interest rate fluctuations, both upwards and downwards, as bank debt may be drawn at variable rates. Thus, an increase in interest rates, if this risk is not hedged, will increase the cost of servicing the debt and reduce the performance of the SPF. A sharp increase in the cost of debt may result in a decrease in the net asset value.
In addition, changes in interest rates may cause interest rate instruments (long and/or short term and fixed and/or floating) to depreciate, with the price of a fixed rate bond tending, by way of illustration, to fall in the event of a rise in interest rates.
Foreign exchange risk
The SPF is intended to invest primarily in the Euro zone. It may invest in instruments not denominated in Euros. Currency risk is the risk of capital loss when an investment is denominated in a currency other than the Euro and the currency depreciates on the foreign exchange market.
Counterparty risk
Counterparty risk is the risk of default by a market counterparty (for financial assets) or tenants (for real estate assets) leading to a payment default. The default of a counterparty may result in a decrease in the Net Asset Value of the SPF.
Sovereignty of the management company in determining the management strategy
The SPF is managed by the Management Company. Shareholders will not make decisions relating to the management, trading or completion of any investment or other decisions concerning the affairs of the SPF and will not have the opportunity to control or influence the management and day-to-day operations of the SPF. Shareholders will not have the opportunity to evaluate the financial economic information, or any other information that will be used by the Management Company in their selection, structuring, monitoring and negotiation of investments.
Guarantee or protection
None
Sustainability risk
Due to its investment strategy, the SPF is subject to sustainability risk. This risk takes into account regulatory or legislative developments relating to sustainability factors that would strengthen these social, environmental or governance regimes. The SPF may also experience a shortage of eligible investments that meet its criteria. All the sustainability risks may also impact on the profitability of the fund.
Finally, in the event of liquidation of the SPF's assets, the SPF may also encounter difficulties in identifying counterparties interested in acquiring the assets it has acquired on the basis of the sustainability criteria set.
Before subscribing, the subscriber must ensure that their profile, financial situation and goals are appropriate for the product and consult the Prospectus.
This document is available from MIMCO AM, 87 Boulevard Haussmann 75008 Paris. The information in this document is provided by MIMCO AM.
The value of investments in the units of the SPF is likely to go down as well as up, depending in particular on the investment objectives or strategies of the SPF and on economic and market conditions.
Investment in the SPF may involve a risk of loss of capital. Given the economic and market risks, no guarantee can be given that the SPF will achieve its investment objectives.
