ESATF Summary Term Sheet
Name: Eastern and Southern African Trade Fund (the Fund), authorised and regulated by the Financial Services Commission (Mauritius)
Minimum Investment: USD 100,000 or equivalent in EUR. The Fund is open only to Expert Investors
Target Initial Fund Size: USD 250,000,000 (minimum USD 50,000,000 at launch), but scalable to USD 1 billlion+
Target First Closing Date: September 2018
Term: Open-ended investment fund. Subscriptions available monthly, and redemptions available monthly with three months’ notice
Target Returns: USD LIBOR + 3-5% per annum
Distributions: It is expected that the Fund will pay dividends comprising net interest income on underlying investments of the Fund, semi-annually following 30 June and 31 December each year
Fund Management Fee: 1.50% per annum
Performance Fee: None
Subscription Fee: None
Redemption Fee: None
Fund Manager: Eastern and Southern African Trade Advisers Limited, Mauritius
Investment Advisers: Eastern and Southern African Trade and Development Bank (TDB); and GML Capital LLP, London (GML Capital)
Administrator: Apex Fund Services (Mauritius) Ltd
Custodian and Bankers: AfrAsia Bank Limited, Mauritius
Auditors: KPMG Mauritius
Legal Advisers: BLC Chambers, Mauritius