SQM Research Report on Global Wealth Partners (GWP) Ltd

Global Wealth Partners Fund Ltd (“GWP”) offers offer investors a simple investment vehicle listed on the ASX, providing diversification with global asset exposure.
GWP will invest in four underlying funds managed by leading U.S based investment managers that predominantly invest in global equities (“Investment Partners”).
Each of the funds has a proven track record of protecting and growing capital through variable market conditions over the long term but to date have not been open to retail investors in Australia.

Why invest in GWP?

• Global diversification
Australian investors, particularly SMSFs, are typically underweight global assets. Diversification to global assets can reduce concentration risk by diversifying away from the banking and resource sectors which dominate the Australian stock market.

• Track record
GWP will invest with four leading global investment managers with outstanding track records of protecting and growing capital in all market conditions.

• Privileged access to leading investment managers
GWP provides access to investment managers which only manage money for the wealthy and institutions (with usual minimum investments of between $1m and $5m).

• Strong alignment of interests
The investment managers hold significant personal investments in each of their respective funds. All of the managers only manage one fund. Employees of Moelis Australia, GWP’s portfolio manager, will be investing between $10m and $20m.

• Flexibility and simplicity
Avoids set up, administrative and taxation complications of investing overseas.
Low minimum investment of $2,500
Liquidity to buy/sell on the ASX

Who is the Manager?

GWP will benefit from the oversight and management experience of Moelis Australia Asset Management (“MAAM”). MAAM is owned by Moelis Australia Group and part of NYSE-listed, leading global independent investment bank Moelis & Company.

The Offer

GWP is seeking to raise between $100m and $300m in an IPO at an Offer price of $1.25.
The offer closing date is 5.00pm on Monday, 15 September 2014.
The expected listing date for the GWP IPO is Friday, 26 September 2014.