Open for subscription
The fund is currently in its initial subscription period and open for subscription by eligible professional investors. Please contact C&S for the subscription conditions and deadlines.
Goal
The fund is currently open for subscription. Its investment objective is to achieve medium to long-term asset growth through income and capital gains. It is a sub-fund of the Futurewave SICAV, a Liechtenstein alternative investment fund for professional investors. The fund is designed for risk-conscious investors with a long-term investment horizon who understand the complexity of the strategy, can accept that their capital may be blocked for a longer period, and can tolerate a negative performance up to the partial or total loss of the invested capital.
Investment Strategy
The fund invests the majority of its assets directly in fixed or variable interest-bearing debt securities and rights, such as private debt bonds, convertible bonds, debentures and other debt instruments with medium-term maturities, of debtors in Switzerland and Europe that operate data centres and other infrastructure facilities or provide funds to such companies. It may also invest directly or indirectly in equity in these data centres and infrastructure facilities. Most investments are unlisted, and only a limited share may be invested outside Switzerland and Europe. The investment limits do not have to be met during the build-up phase following the initial issue of units.
Portfolio Profile
The fund is actively managed, does not use a benchmark and is not a fund of funds. The AIFM has delegated portfolio management to C&S. The portfolio is concentrated on one sector and may hold a limited number of investments, and debtors may have a sub-investment-grade rating or no official rating. Direct investments in real estate and physical commodities as well as physical short selling are excluded, and borrowing for investment purposes is not permitted. Derivatives may be used within defined limits. The fund is classified as an Article 6 product under the SFDR and does not pursue an ESG strategy. Units are available in two unit classes, in CHF and EUR, and income is generally distributed.
Liquidity Management
The fund invests mainly in unlisted, illiquid investments that are difficult to value. Units are issued and redeemed quarterly. Redemptions are excluded during an initial lock-up period of five years from the initial issue date of the respective unit class, which the Board of Directors or the AIFM may shorten or extend. After the lock-up period, redemptions are subject to a notice period. To protect investors, the AIFM may use liquidity management tools such as redemption fees, redemption gates, a temporary suspension of subscriptions and redemptions, side pockets and extended notice periods. Payouts from the investments are likely to be low in the early years.
Documents
The Investor Information pursuant to Art. 105 AIFMG, the Articles of Association and the Terms and Conditions of Investment including the appendices are available free of charge from the AIFM, the custodian and authorised distributors, as well as on the website of the LAFV Liechtenstein Investment Fund Association (www.lafv.li). Subscriptions are made solely on the basis of these documents.
Parties Involved
LLB Fund Services AG
LLB Fund Services AG, Vaduz, acts as alternative investment fund manager (AIFM) of the Futurewave SICAV.
Cura & Senectus Investment AG
Cura & Senectus Investment AG acts as portfolio manager of the fund, to which portfolio management has been delegated by the AIFM. The company is a licensed asset manager based in Vaduz, Liechtenstein.
Liechtensteinische Landesbank AG
Liechtensteinische Landesbank AG (LLB) acts as custodian of the fund.
PricewaterhouseCoopers AG
PricewaterhouseCoopers AG acts as auditor of the fund.
Risk Notice
The fund is an alternative investment fund for professional investors and is not suitable for all investors. There is no guarantee that the investment objective will be achieved, and investors may lose part or all of the capital invested. The fund invests in unlisted, illiquid investments that are difficult to value, is concentrated on one sector, and invests in debtors that may have a sub-investment-grade rating or no rating at all, which carries a significantly higher probability of default. Units are subject to a lock-up period, and redemptions may be restricted through liquidity management tools. Investors may receive no or only low payouts in the early years. Investors who subscribe at later stages participate in existing investments, which may dilute the units of earlier investors. Derivatives can increase risk, and costs on several levels reduce returns. Investments may be exposed to currency risk. This page is for information purposes only and does not constitute an offer, investment advice or a recommendation. The fund is offered to professional investors and, in Switzerland, to qualified investors only, and may not be offered to US persons.