• Seek to invest in an ASX listed managed investment scheme encompassing a focussed portfolio of opportunities in the junior resources sector, with experienced management.
• Seek an investment with exposure to the low capitalisation mining and energy sectors, and provide above average absolute returns to the unit holders.
• Seek the ability to withdraw part or all of the investment on relatively short notice under normal market circumstances
The Lowell Resources Fund is to which this target market determination applies.
Investment in this product is for those who:
This target market determination (TMD) seeks to offer consumers, distributors and staff with an understanding of the class of consumers for which this product has been designed, having regard to the objectives, financial situation and needs of the target market.
Target Market Determination
For Lowell Resources Fund (A.R.S.N. 093 363 896)
Cremorne Capital Limited, AFSL No. 241175, ACN 006 844 588 is the responsible entity and issuer of Lowell Resources Fund
This document is available to the public free of charge. This document is not to be treated as a full summary of the product’s terms and conditions and is not intended to provide financial advice. It doesn’t form part of the Product Disclosure Statement (PDS) for the product and it doesn't summarise the product features or terms. The information in this document does not take into account any investor’s individual investment objectives, financial situation or needs. Investors should read the PDS before making any decision regarding the product.
The information below summarises the overall class of consumers that fall within the target market for Lowell Resources Fund, based on the product key attributes and the objectives, financial situation and needs that it has been designed to Thismeet.product
• Seek capital growth from investment in a select group of junior mining and energy companies
ASX:LRT
Date from which this target market determination is effective 5th October 2021
ACN: 006 844 588. AFS Licence 241175. Registered Office: 8 Chapel Street, Cremorne VIC 3121. Phone: (03) 9665 2499
has been designed for consumers whose likely objectives, financial situation and needs are aligned with the product (including the key attributes).
1. About this document
2. Class of consumers that fall within this target market
Because the Fund’s primary objective is capital growth from investment in a select group of junior mining and energy companies, an investor’s needs and financial situation must acknowledge that this sector tends to be highly volatile. The Lowell Resources Fund will seek to take advantage of such volatility to sell down overpriced stocks in the Fund to lock in capital gains, most of which are intended to be distributed to unitholders, on an annual basis
2
Objectives, financial situation, and needs
Product description and key attributes
This product should only be distributed under the following circumstances:
Lowell Resources Fund offers an investment designed to cater to investors with varying objectives, financial situation and Anneeds.investor is in the target market for this product if they wish to invest in a listed investment trust that focuses on investing in shares and other financial products issued by predominantly small capitalisation resources companies listed or seeking to list on Australian and overseas stock exchanges.
Given that this is a pooled fund offered on the ASX there will generally by a wide target market of investors. That noted, the fund still seeks to attract investors who may invest significant sums to maintain liquidity of the Fund and participate in possible future capital raisings of the Fund.
Generally, investors join by applying for Units of the Fund via trading on the ASX. Members have rights to receive distributions of net taxable income as cash payments or via electing to participate in a Distribution Re investment Plan in proportion to their share of units in the Fund at the Distribution Calculation Date (generally 30 June)
3. How this product is to be distributed
Distribution conditions
This product is designed to be distributed through the following means: o Online marketing, presentations by the investment manager of Lowell Resources Fund and word of mouth by unitholders, independent financial planners and brokers
o To investors that meet the eligibility requirements; and o To investors that have the appropriate capacity and access to the ASX; Adequacy of distribution conditions and restrictions
The key eligibility requirements and product attributes of Lowell Resources Fund are: Both Wholesale and retail investors may invest in Lowell Resources Fund. Subject to ASX guidelines, there is no minimum investment in the Fund.
This product has been designed for investors who seek to maximise absolute returns over the medium to longer term, along with annual distribution payments contingent on taxable profits generated over the term.
Consistency between target market and the product
Importantly, access to the Lowell Resources Fund is open to any investor with access to the ASX and therefore it is possible that not all investors will have possess objectives, financial situations and needs that are consistent with the target market of the Fund.
Distribution to investors is primarily based on an investor’s capacity to invest via the ASX Subject to ASX rules there are no restrictions on who may invest in Lowell Resources Fund.
Distribution channels
3 Reviewing this target market determination
5. Reporting and monitoring this target market determination
• external events such as adverse media coverage or regulatory attention; and
Periodic reviews At least every three years from the initial review.
Review triggers or events
Complaints Distributors will report all complaints in relation to the product(s) covered by this TMD as soon as practicable but no longer than ten business days following receipt of the complaint. This will include written details of the complaints.
Significant dealings Distributors will report if they become aware of a significant dealing in relation to this TMD within 10 business days.
Where a review trigger has occurred, this target market determination will be reviewed within 20 business days.
4.
• a material change to the design or distribution of the product, including related documentation;
We will review this target market determination in accordance with the below: Initial review Within 15 months of the effective date.
• a significant breach of a financial services law, where the breach relates to the design or distribution of Lowell Resources Fund
• the occurrence of a significant dealing outside of this target market determination;
• distribution conditions found to be inadequate (i.e. need for off market capital raising);
• Lowell Resources Fund ceasing to be admitted to ASX for any reason;
We may collect the following information from our distributors in relation to this TMD.
• significant regulatory changes negatively impacting the capability of the responsible entity to adequately and efficiently maintain the product or target market
Any event or circumstances arise that would suggest the TMD is no longer appropriate. This may include (but not limited):