Sovereign Healthcare Receivables Italy
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.
| INVESTMENT MANAGER | Finexis SA, Luxembourg |
|---|---|
| LINKEDIN COMPANY PAGE | Finexis SA |
| 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 |
