About the Company (5)
Q1 : What is i-Global? What is the history of the company?
i-Global is a company incorporated in 2014 by Dr. Choo Koon Lip with his dedicated team from Singapore, Australia, Malaysia and Hong Kong. The company specializes in providing Financial Education and Initial Public Offering (“IPO”) Consultancy in Singapore and Malaysia. In 2015, the management set-up an Investment Trust structure to perform fund management in Hong Kong.
Q2 : What is Global Asset? What is the difference between i-Global and Global Asset?
In 2016, i-Global was approached to list in Australia. As part of the listing requirement, the management of i-Global were advised to detach the fund management division from its existing corporate structure. Hence in 2017, the fund management division was officially removed from i-Global and was renamed Global Asset.
The i-Global brand carried on performing IPO Consultancy services and the Global Asset brand was born and promoted fund management activities with a core product named Skylight Series.
Q3 : What is Global Asset Skylight product about?
After rebranding as Global Asset, the management restructured the fund management activities by engaging third-party financial licensed companies to advise on the investment strategies within Skylight, the core product of Global Asset.
The financial licensed companies include i) a holder of Hong Kong Type 9 (Asset Management); ii) a holder of Labuan FSA Fund Manager License; and iii) a holder of China Financial Leasing License.
Q4 : What is i-Global and Global Asset’s Investment Strategies?
Starting from 2015, the company’s investment strategy was to invest in Pre-IPO opportunities in international markets like Singapore, USA, Hong Kong and Australia. However, the management soon found out that the “golden age” for investing in Pre-IPO is over. In the past, investing in Pre-IPOs is an almost, without fail, guaranteed profit-making method.
Up till that period, the company was getting a Pre-IPO winning probability of 50% return and that was not what the management was expecting. Hence, the management analysed those IPO investments that were successful and concluded that, to increase the winning probability of a Pre-IPO investment, the company would only access projects together with a group of close alliances. This alliance includes a highly professional team of IPO Managers, Corporate Advisors, Due Diligence Lawyers, Experienced Auditors, Lead Managers and sponsors.
Since then, i-Global have been refining and working closely with this group of professionals in accessing each case of Pre-IPO investment opportunity.
Q5 : How does the company rate the current crop of investment return?
The Fund directors and investment manager strongly believes that Investing in the right projects at the Pre-IPO phase would generate the Fastest & Biggest Profit Gain. Although the company have written off Pre-IPO projects previously, thereby incurring investment losses, the company will continue to enter investment projects with the goal in mind of increasing the 50% winning probability through being actively involved & managing the IPO of the investment entities.
About The Skylight Performance Fund (7)
Q1 : Why is the fund set-up in Bahamas?
The Fund Directors approached various High Net Worth Individual investors and invited them to be a cornerstone investor to this fund. However, the Fund Directors faced the same rejection. Reason being that the fund has no “focus” track record in having a re-aligned focus on investing into pre-IPO structure opportunities in Australia. Hence, the Fund Directors decided to establish a Private Fund instead due to costing consideration and have finally chosen Bahamas as the jurisdiction to setup.
To build the track record, the Fund Directors funded as the first subscriber with One Million US Dollars. In addition, the Fund directors kept cost low by appointing Baker Tilly as the fund auditor (World’s Top 8 Auditing Firm) instead of a traditional “Big 4” Audit firm.
Q2 : Is the Public able to subscribe to the fund?
Skylight Performance Fund is a licensed and regulated as a Professional Fund pursuant to the Investment Funds Act 2003, of the Commonwealth of the Bahamas. Only Professional Investors are eligible to subscribe to the fund, to be classified as Professional Investor, the subscriber is required to satisfy the following criteria:
- A bank or trust company licensed under the Bank and Trust Companies Regulation Act or licensed pursuant to the laws of another jurisdiction, whether acting in its individual or fiduciary capacity;
- Any registered firm under the Securities Industry Act or pursuant to the laws of another jurisdiction;
- An insurance company licensed under the Insurance Act or licensed pursuant to the laws of another jurisdiction;
- An investment fund licensed or registered under the IFA or pursuant to the laws of another jurisdiction;
- Any natural person whose individual net worth, or jointly with the person’s spouse, exceeds one million dollars (US$1,000,000) or currency equivalent;
- Any natural person who has an individual income in excess of two hundred thousand dollars (US$200,000) or joint income with his spouse in excess of three hundred thousand dollars (US$300,000) in each of the two most recent years and has a reasonable expectation of reaching the same income in the current year;
- A trust with total assets in excess of five million dollars (US$5,000,000);
- Any entity in which all the equity owners satisfy one of the requirements in (1) to (7) above; or
- Any entity with net assets in excess of five million dollars (US$5,000,000).
Q3 : What are the key characteristics of Skylight Performance Fund?
Refining from previous experience of investing in Pre-IPO opportunities, the Fund Directors have applied a stricter checklist when it comes to assessing a project opportunity so that the winning probability of a Pre-IPO project is greatly increased.
In addition, the Skylight Performance Fund practiced an uncommon strategy of the Fund Managers themselves seeding up to 20% of the overall investment size entered by the Fund. This greatly aligns the interest of both the Fund’s monies and the fund managers’. It also gives an added assurance that the Fund manager must be extremely confident of the investment opportunity to be investing personal funds along with the Professional fund.
Skylight Performance Fund is unlike any fund in the market as subscribers can be assured that every best effort has been put in place by the investment team and fund manager prior to making the investment decision in a Pre-IPO opportunity.
In conclusion, Skylight Performance Fund can generate the highest return and provide unrivalled investment confidence to their subscribers through actively managing and involved in the IPO process of the investment entity itself.
Q4 : What is Winterbotham?
Winterbotham is a Bahamas Merchant Bank that is providing the role of Fund administrator and banker for the Skylight Performance Fund. The Fund directors are dealing with the Hong Kong Headquarter representatives for all Fund related matters.
Q5 : What is Baker Tilly?
Baker Tilly is an Audit and Accounting Firm ranked 8th in the world for the year 2017. As at 2017, Baker Tilly presence is in 133 countries and is fairly renowned in Asia Pacific.
Q6 : What is Lennox Paton?
Lennox Paton is the Legal adviser for Skylight Performance Fund which specializes in the Bahamas law and international & common British laws. The firm have strong practises in the area of trusts, commercial and investment funds. They have offices located in London, British Virgin Islands and Bahamas.
Q7 : Are there any professional bodies behind Skylight Performance Fund?
The operation of the Skylight Performance Fund comprises of the following advisory professional team:
- Australia and Singapore IPO Team
- Hong Kong Asset Management (Type 9 License) Licensed Company
- Labuan Licensed Fund Management Team
- China Licensed International Financial Leasing team
- Bahamas Fund Administration & Legal team
- Germany and Austria Disruptive Technology Platform
About The Fund Key Terms(3)
Q1 : What is an NAV and where will I be able to check the latest NAV?
The Fund Administrator, Winterbotham, will publish the Net Asset Value (“NAV”) is the value per share of the fund on a monthly basis. In a nutshell, the NAV is calculated based on the total value of all the securities in its portfolio, any liabilities the fund has, and the number of fund shares outstanding.
Subscribers can check the latest NAV report on Global Asset website, bookmark the NAV on your Bloomberg app with our Bloomberg ticker or email inquiries to email@example.com.
Q2 : What are the things to look out for partial redemption of units/shares?
Skylight Performance Fund has a key term of minimum redemption of USD 10,000 or equivalent worth of units per redemption.
In addition, should subscribers decide to make partial redemption of units/shares, they are reminded that the minimum balance to keep the policy active is USD 25,000 or equivalent worth of units (as at partial redemption date).
Q3 : Is there any Lock in period and any penalty for early redemption of units?
To ensure fund stability and investment methodology of Pre-IPO investment duration, redemption is not allowed within first 12 months of commencement.
However, Subscribers can perform partial redemption of units/shares from 13th month of the commencement date. Unlike typical insurance and/or fund products with ultra-high redemption penalty (easily north of 80-99% of subscription amount), the early redemption comes with much lower redemption cost as per the following:
- From 13th month to 24th month, redemption cost at 25% of NAV.
- From 25th month to 36th month, redemption cost at 5% of NAV.
- From 37th month onwards, redemption cost at 2% of NAV.