How to Invest in AFC Iraq Fund
Asia Frontier Capital Limited is a Cayman Islands domiciled fund management company with Asia Frontier Capital (Iraq) Limited as its subsidiary. The "AFC Iraq Fund" is domiciled in the Cayman Islands and is open to non-US as well as US investors.
Subscription to the fund is available on a monthly basis and closes 5 working days prior to the last day of each calendar month.
If you were looking for information on the other funds, please click one of the following:
Invest Directly with AFC
To invest directly in AFC’s funds you will need to:
- complete the subscription documents
- provide KYC information
- arrange a funds transfer of the investment amount
Whilst there are many ways to gain access to our funds, we generally advise potential investors to invest directly. The advantages compared to investing through a bank, platform or other provider include:
- No brokerage fees when subscribing to the funds
- No custody fees during the holding period
- Investors will receive a monthly update with number of shares held and latest NAV (can also be used for tax purposes in many countries)
- Investors will receive ad-hoc information such as the audited annual report
Invest via your Bank
You can enquire with your bank as to whether they have an established relationship with Asia Frontier Capital or access to our funds via another mechanism. Occasionally some investors have been trying to invest through their bank however some of the banks declined the order for unknown reasons.
In such a case, you should inform your bank that the following companies can provide fund execution services:
- Brown Brothers Harriman, New York (http://www.bbh.com)
- CITCO Global Securities Services Ireland (http://www.citco.com)
- Clearstream (http://www.clearstream.com)
- "FundSettle platform" of Euroclear, Brussels (https://my.euroclear.com)
- SIX Securities Services, Olten (http://www.six-securities-services.com)
- Societe Generale Securities Services Luxembourg (http://www.securities-services.societegenerale.com)
- Vidacos Nominees / Citibank London
These fund service providers have already invested in one of our funds on behalf of their clients.
Invest via a Fund Platform, Insurance Company or Nominee Provider
The AFC Asia Frontier Fund has already been included on various fund platforms:
- Friends Provident fund platform (https://www.fpinternational.com)
- Generali fund platform (https://www.generali.com)
- Quilter fund platform (https://www.quilter.com)
- Westerby The Pension Specialist (https://www.sipp-ssas-pensions.co.uk/)
We have received enquiries from clients regarding other fund platforms and the majority of platform providers indicated that they are able to begin their internal due diligence process on our funds when they receive a request from their existing clients.
Invest via your IRA, SIPP, or Superannuation Fund
US investors can invest in AFC Iraq Fund through a "self-directed IRA". Millennium Trust Company (http://www.mtrustcompany.com/) is already offering this service and clients have already invested in AFC Iraq Fund through Millennium Trust.
It is possible for non-US investors to come on board via their self directed retirement accounts and several clients from the UK and Australia have already subscribed in this manner.
|Class D||Class E|
|Management Fee||1.8% p.a. of NAV||1.5% p.a. of NAV|
|Performance Fee||18% NAV appreciation above high water mark||15% NAV appreciation above high water mark|
|Subscriptions||5 business days before month end||5 business days before month end|
|Redemptions||Monthly at NAV - with 90 days notice||Monthly at NAV - with 180 days notice|
|Fund Base Currency||USD||USD|
|Initial Minimum Investment (US Investors):||USD 50,000||USD 50,000|
|Initial Minimum Investment (Non-US Investors):||USD 10,000||USD 10,000|
|Subsequent Minimum Investment (US Investors):||USD 10,000||USD 10,000|
|Subsequent Minimum Investment (Non-US Investors):||USD 1,000||USD 1,000|
|Valuation Day||Last day of each calendar month||Last day of each calendar month|
Fund Details for US Investors
|Securities Numbers: AFC Iraq Fund|
|Class D||Class E|
|CUSIP||G0132A 168||G0132A 176|
|Bloomberg||AFCIRAQ KY||AFCIRAE KY|
Fund Details for Non-US Investors
|Securities Numbers: AFC Iraq Fund (Non-US)|
|Class D||Class E|
|Bloomberg||AFIRNUD KY||AFIRNUE KY|
Asia Frontier Investments Limited, a subsidiary of Asia Frontier Capital Limited, is licensed by the Hong Kong Securities and Futures Commission "SFC" for Type 4 (Advising on Securities) and for Type 9 (Asset Management).
* The representative of the AFC Iraq Fund (non-US) in Switzerland is ACOLIN Fund Services AG, succursale Geneve, 6 Cours de Rive, 1204 Geneva. NPB Neue Privat Bank AG, Limmatquai 1 /am Bellevue, CH – 8024 Zürich, Switzerland is the Swiss Paying Agent. In Switzerland, shares shall be distributed exclusively to qualified investors. The fund offering documents, articles of association and audited financial statements can be obtained free of charge from the Representative. The place of performance with respect to shares distributed in or from Switzerland is the registered office of the Representative.
** The AFC Iraq Fund is registered for sale to investors in Switzerland (qualified investors), Hong Kong & UK (professional investors), Singapore (accredited investors) and USA (accredited investors and qualified purchasers).
*** By accessing information contained herein, users are deemed to be representing and warranting that they are either a Hong Kong Professional Investor or are observing the applicable laws and regulations of their relevant jurisdictions.