Sarbit Asset Management Inc. today announced the launch of Sarbit Total Performance Trust, its second product offering.
Sarbit Total Performance Trust will be an open mandate investment product available through an offering memorandum. The fund can invest in any country, in any market capitalization, and in any type of debt instrument. The fund will also have the ability to hedge currency. Most importantly the fund can do what successful business investors do — concentrate investment into a few great businesses.
The trust is designed to receive fees only on performance. The product has built in both a hurdle rate and high water mark feature to ensure that the investor must be making incremental returns before Sarbit can receive its fees.
“This product has been created to give the investor ultimate peace of mind. Sarbit is putting its interests along side its investors. If the investor doesn’t make money – Sarbit doesn’t make money. If the investor wins – Sarbit wins” said Larry Sarbit, CEO and president.
Features of the Sarbit Total Performance Trust are:
- available through offering memorandum;
- performance fee of 20% on new investment returns;
- hurdle rate is Bank of Canada 30 Day T-Bill rate;
- high water mark;
- fixed expense ratio of 0.60%;
- offered in both class A & class F Units; and
- target cap of $150 million.
Sarbit is seeking a select number of IDA licensed investment advisors to distribute this product. Advisors should email sarbitsupport@sarbit.com or contact your local Sales Director to express interest.