Cash Flow Finance (Luxury)

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Fund Portrait

Due to tightening capital restrictions, commercial banks are leaving the middle market segment for high-end diamond and jewelry companies. The DELGATTO Diamond Finance Fund (DDFF) is uniquely positioned to enter and fill this lending gap and offers next to the Cayman structure a Liechtenstein feeder under the OF Sicav umbrella. DDFF is an institutional specialty finance firm, entirely focused on extending fully collateralized loans to the midstream diamond industry, which is defined as the 15,000 companies including wholesalers, cutters, among other participants. The Fund issues loans to the luxury sector by taking hard assets as security. The LTV is between 50-75% of the liquidation price for the assets. The assets are stored and secured with Ferrari Express Inc., one of the biggest third-party vault providers in the world. Once the loan has been reimbursed, the goods are released and returned to the loan customer. The Fund targets a return of 7% + p.a. Duration of the loans is 3-6 months. With monthly liquidity on 90 days notice, the fund's liquidity terms match the asset profile. 

 

 

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INVESTMENT MANAGER Accuro Fund Solutions AG
TYPE STRUCTURE Liechtenstein SICAV- AIF
DOMICILE Liechtenstein
LAUNCH DATE June, 2020
DISTRIBUTOR SWITZERLAND OpenFunds Investment Services AG (Switzerland)
AUDITOR PricewaterhouseCoopers AG
CUSTODIAN Liechtensteinische Landesbank AG
REGULATOR Finanzmarktaufsicht Liechtenstein (FMA)
PAYING AGENT SWISS OpenFunds Investment Services AG
GEOGRAPHY Primarily US
STRATEGY Direct Lending/Trade Finance
SHARE CLASSES Institutional and Participating
CURRENCY USD, EUR, CHF
INITIAL CHARGES 0%
MINIMUM SUBSCRIPTION Institutional share class: 100,000 USD / Participating share class: 25,000 CHF/USD/EUR
LIQUIDITY Monthly
MANAGEMENT FEE Institutional share class: 0.75% p.a. / Participating share class: 1.25% p.a.
PERFORMANCE FEE no performance fee
FUND SIZE USD 4.9 m
MANAGER TRACK RECORD Active in the sector since 1995
ISIN Please refer to the factsheets
BLOOMBERG CODE Please refer to the factsheets