Sovereign Healthcare Receivables Italy

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Fund Portrait

The Fund purchases receivables from private entities servicing the public healthcare system in Italy. EU regulations establish that all European countries have to pay their invoices against private entities within 60 days. A moratory interest rate of 8% + EUR reference rate for overdue invoices can be charged after that period. 

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INVESTMENT MANAGER Finexis SA, Luxembourg
FUND JC Special Opportunity Fund
TYPE STRUCTURE Open-ended SICAV-SIF
DOMICILE Luxembourg
LAUNCH DATE June 01, 2015
DISTRIBUTOR SWITZERLAND OpenFunds Investment Services AG (Switzerland)
AUDITOR Artemis SA Lux
CUSTODIAN B.I.L. SA Lux
REGULATOR Commission de Surveillance du Secteur Financier, Luxembourg (CSSF)
PAYING AGENT SWISS Società Bancaria Ticinese SA (Switzerland)
GEOGRAPHY Italy Only
SECTOR Healthcare receivables with ultimate creditor Italian State
CURRENCY Institutional Share Class: EUR, USD / Participating Share Class: EUR, USD / Share classes in other currencies can be setup easily and will be fully hedged
INITIAL CHARGES 0%
MINIMUM SUBSCRIPTIONS Institutional share classes: 1,000,000 EUR/USD/CHF; Retail share classes: 125,000 EUR/USD/CHF;
LIQUIDITY Monthly, on 30 days' notice for retail share classes / Monthly, on 60 days' for institutional share classes
MANAGEMENT FEE Institutional Share Class: 1% / Participating Share Class: 2%
PERFORMANCE FEE Institutional Share Class: 20% on the excess return over fixed 5% hurdle, acting as high water mark, paid quarterly but accrued monthly (based upon total assets).
MANAGER TRACK RECORD Sourcer and servicer active in this space for over 10 years
ISIN Please refer to the factsheets
BLOOMBERG CODE Please refer to the factsheets