Fees and Compensation — Form ADV Part 2A (3/25/2019)
[Brochure]
Item 5: Fees and Compensation
Pursuant to the Offering Materials and advisory agreements, SIMPL receives an annual
management fee of 0.50% of the RDF6 net asset value and 1.0% of the RDF12 net asset value
(“Management Fee”) for acting as the trustee and investment manager of RDF6 and RDF12.
The Management Fee is calculated and accrued at each valuation time and is paid as soon as
practical after the end of a calendar quarter. The Management Fee is increased by the amount
of Australian goods and services tax (“GST”) payable by SIMPL on the Management Fee.
SouthPeak Investment Management LLC Form ADV Part 2A
There is an investment advisory services agreement between the Firm and SIMPL where by
the Firm provides investment advisory services to SIMPL for a fee. In addition, there is also a
services agreement between SIMPL and the Firm whereby SIMPL provides support services
(such as marketing, operations and compliance) to the Firm for a fee. Payments to the Firm
by SIMPL are calculated using transfer pricing principles that satisfy the requirements of the
relevant US and Australian legislation pertaining to transfer pricing as well as the Transfer
Pricing Guidelines for Multinational Enterprises and Tax Administrations issued by
Organisation for Economic Co-operation and Development (OECD).
SIMPL may also from time to time enter into Side Letters providing for changes in Management
and Performance Fees. SIMPL currently has Side Letters with investors relating to fee rebates
and reporting on their invested assets. SIMPL also has a Side Letter / Subscription Agreement
in place with the sole investor in HCOF relating to the investment strategy, fees and reporting.
SIMPL deducts the Management Fee from Investors’ accounts by instructing the Funds’
administrator to deduct the fee.
Account Minimums and Types of Clients — Form ADV Part 2A (3/25/2019)
[Brochure]
Item 7: Types of Clients
The Firm’s clients are the Funds. Investors in the Funds primarily consist of institutional
investors such as (Australian pension funds, multi-manager firms and sovereign wealth funds).
The minimum initial investment for each Investor is AU$ 1,000,000 and the minimum
subsequent investment is AU$ 500,000. In certain circumstances, minimum investment
amounts may be amended by SIMPL.
SouthPeak Investment Management LLC Form ADV Part 2A