We understand that circumstances may change from time to time, and that investors may wish to sell their investments with us.
Thanks to PMG’s extensive database of investors, we currently facilitate a secondary market matching service, where we match investors who wish to acquire PMG shares or units with investors who wish to dispose of PMG shares or units. PMG charges a fee for using the matching service (1.50% of the sale amount).
Subject to the financial hardship mechanism discussed in the next paragraph, the matching service operates based on a queue, depending on when investors agree to sell their investment using the matching service. Accordingly, the time it takes to find another investor to acquire the shares or units can vary depending on the number of investors who are looking to buy shares or units, and the number of investors looking to sell shares or units who are already in the queue, at any point in time. Market conditions and other macroeconomic factors may affect the level of supply and demand for shares or units through the secondary market matching service.
We have established a financial hardship policy to prioritise the sale of the relevant investor’s shares or units through the secondary market matching service (up to a value of NZ$50,000), where exceptional medical or compassionate grounds exist. All financial hardship applications require the approval of the Covenant Trustee (an independent third party and the licensed supervisor of the PMG funds).
From time to time, PMG may also offer redemptions for the applicable funds – this will be dependent on the specific fund and is offered at PMG’s discretion.
Importantly, investors are reminded that there is no guarantee the matching service will be available in the future, or that there will be sufficient demand or liquidity to enable investors to sell units at any given time, or of any specific timeframe or minimum share or unit price at which to liquidate your investment using the secondary market matching service. PMG shares and units are intended to be long-term investments. The potential impact on investors looking to sell their investments on a shorter-term time horizon could be that their investment cannot be disposed of, or that their investment is disposed of below expected value.
If you are interested in buying, exchanging or selling shares or units in any of our funds, please get in touch with our Investor Relationships Team today.
We currently have a limited number of investment opportunities available. Please contact us today to discuss.
