Sage extends closing date
Sage Global Fund has extended the closing date of its ethical investment fund, giving investors an extra two months to invest.
Sage Global Fund has extended the closing date of its ethical investment fund, giving investors an extra two months to invest.
The original closing date of the fund was set for October 9, 2000, but after increasing demand in the fund, a rescheduled closing date has been set for December 8.
As previously reported in Money Management, the fund was launched in August this year. It is a venture capital vehicle targeted at ethical investments in biotechnology and agriculture.
Sage director Charles Alexiou says the fund contains only a few small-scale ventures that have a short timeframe to return on investment and have global applications.
Alexiou says the ideal timeframe for return on capital for these ventures is about three to five years. Minimum subscription is $2,000 or 4,000 shares.
He says the fund as established to invest primarily in Australian companies developing biotech-nologies that offer environmentally friendly and socially responsible solutions.
Primary consideration will be given to investing in companies where an ASX listing is contem-plated within 12 to 18 months. In other cases, a clear exit mechanism will be available.
The fund is using the resources of scientific and technical advisers Aoris Nova whose knowledge of the biotechnology, health care and food industries will be used to give the manager an assess-ment of the science, intellectual property and commercial potential of the projects under consid-eration.
Recommended for you
An adviser has received a written reprimand from the Financial Services and Credit Panel after failing to meet his CPD requirements, the panel’s first action since June.
While efficiency remains a top priority for Australian advisers, State Street has revealed the profession is now juggling this desire with the need to maintain personalisation of its service offering.
A possible acquisition of data provider Iress is becoming a greater likelihood after the firm announced it is engaging with multiple interested parties.
AMP has reported a 61 per cent rise in inflows to its platform, with net cash flow passing $1 billion for the quarter, but superannuation fell back into outflows.
