The fund aims to provide a positive absolute return independent of market conditions over the medium to long term. The fund aims to achieve long term capital appreciation
Financial year end 31st December
In order to protect the interests of existing shareholders, when net subscription or net redemption requests exceed 5% of NAV, an anti-dilution levy will be applied to cover dealing charges, costs, etc.
Income potentially distributed on Reporting Status share classes (GBP I). You should refer to the prospectus for more information
Prices are published daily on Bloomberg and by other third party data providers
Lancaster Investment Management LLP, (Authorised and Regulated by the Financial Conduct Authority, registered with the Securities Exchange Commission and registered with the Central Bank of Ireland ("CBI") as anon-EU AIFAM)
U.S. Bank Global Fund Services (Ireland) Limited
Morgan Stanley
J.P. Morgan Bank (Ireland) Plc
Deloitte LLP Dublin
Accepted – excluding Mini ISAs
James joined Lancaster in 2023.
Prior to this, from 2008-2023, he was lead portfolio manager on the Brook Absolute Return Strategy, managed by Odey Asset Management LLP.
From 2006-08 James was a partner and fund manager at ZA Capital, an equity hedge fund founded by a Schroder colleague Zafar Ahmadullah.
From 2003-06 James was an equity analyst at Schroders covering the retail and leisure sectors. James graduated from Edinburgh University in 2003 and has also completed the Chartered Financial Analyst Program.
Jamie joined Lancaster in 2023.
Prior to this, from 2011-2023, he was Co-Portfolio Manager on the Brook Absolute Return Strategy, managed by Odey Asset Management LLP.
From 2008-2010 Jamie was global pharmaceuticals and medical devices analyst at Orbis Investment Advisory.
From 2004-2008 Jamie was an analyst/deal manager at FF&P Private Equity. Jamie graduated from St. Edmund Hall, Oxford, where he read Biochemistry and has also completed the Chartered Financial Analyst Program
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All applications for Shares must be received (by letter or by facsimile or for a subsequent subscription, application by an electronic means approved by the Directors and in accordance with the requirements of the Central Bank) by the Administrator at its business address no later than 2.00 p.m. (Irish time) on the Business Day immediately preceding the relevant Dealing Day.
GBP I, EUR I, USD I
£1,000,000 (or equivalent in EUR / USD)
Daily, no later than 2.00 p.m. (Irish time) on the Business Day immediately preceding the relevant Dealing Day.
Close of business daily.
Subscription monies are to be received by the Administrator no later than 5.00 p.m. (Irish time) on the third Business Day following the relevant Dealing Day, as appropriate or within such other period as may be permitted by the Directors.
Any subscription monies which are received by the Administrator prior to investment in a Sub-Fund will be held in a Collection Account and will not form part of the assets of the relevant Sub-Fund until such monies are transferred from the Collection Account to the account of the relevant Sub-Fund.
Contract notes will normally be issued by the Administrator within 48 hours of dealing. Contract notes will serve as completion notice where the original signed application form is received by the Administrator. Share certificates shall not be issued.
Redemption instructions must be received by the Administrator no later than 2.00 p.m. (Irish time) on the Business Day immediately preceding the relevant Dealing Day. A Dealing Day is every day which is a bank business day in Ireland and London. Redemption proceeds will usually be returned by the fifth Business Day following the relevant Dealing Day.
Performance fee 20% of the increase in absolute outperformance of the share class during a performance period. Fees crystallise annually, and on redemption. Underperformance is carried forward; Ongoing Charge represents the Annual Management Fee + any other expenses (e.g. Audit fees, Administrator fees, etc.) including research costs but excluding any Performance Fee paid and financing costs for the year. The Total Expense Ratio represents the Ongoing Charge Figure + any Performance Fee paid for the year.
Ongoing Charge represents the Annual Management Fee + any other expenses (e.g. Audit fees, Administrator fees, etc.) including research costs but excluding any financing costs for the year.
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