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- £25,000Min. Investment
- IHTFund Type
- EvergreenClosing Date
Great Point Estate Planning (“GPEP” or “Service”) is a discretionary managed portfolio service of Business Property Relief (“BPR”) qualifying companies. These companies will be making secured asset backed loans to media and entertainment companies requiring production cashflow and project finance against commissioned orders and contracted future income streams.
- To preserve capital and generate a stable return of 3% per annum;
- To invest in a portfolio of investee companies that qualify for BPR;
- To create a well-diversified loan portfolio across a number of different media counterparties;
- Zero defaults and zero loans in arrears since inception;
- Established track record of delivering target returns since inception.
The Service is a discretionary managed portfolio focused solely on providing investors with interests in businesses which provide asset backed loans to media and entertainment companies and which we expect to qualify for BPR. The Companies that GPI selects provide loans to companies that require production cashflow and project finance against commissioned orders and contracted future income streams. The Manager believes that project financing in the media sector will provide the investee companies selected with attractive and stable returns as they seek to grow their respective lending businesses.
The Service offers investors the opportunity to access predictable target returns of 3% through direct media project lending. The Service will look to invest into businesses that provide secured asset backed loans to media and entertainment companies requiring production cashflow and project finance against commissioned orders and contracted future income streams from internationally recognized broadcasters and distributors. It is anticipated that the Service will offer short to medium term asset-backed loans to multiple borrowers, with a typical average term of between 12 to 20 months in duration and aim for an average deployment rate of 85% where the remaining balance will be used for working capital and liquidity. The investee companies within the Service will not make any equity investments. The Service will rely on the directors of the selected investee companies and the Manager’s experience, presence and extensive network of relationships in the media sector to provide a strong and steady source of commercial lending opportunities in this sector.
Laura is responsible for sourcing and evaluating suitable BPR qualifying opportunities within the media sector. She is qualified as a chartered secretary and has been involved in managing and/or overseeing the corporate governance and company secretarial matters for BPR qualifying companies since 2010, including providing advice on structuring new funds, returning funds to investors and share capital changes.
Kok-yee, a qualified chartered accountant, has been managing and evaluating suitable BPR qualifying opportunities within the media sector since 2009. Kok-yee previously worked at Grant Thornton, focussing on the audit and assurance of companies in the media and financial services sectors. She has also previously worked at the global investments manager, Man Group, within their structured products team.
Jim is an Emmy Award winning producer with over 25 years’ experience in the development, production, financing and distribution of television programmes and films, with credits including Foyle’s War and Jack Higgins’ On Dangerous Ground. Jim has worked extensively in the alternative investments sector, specifically focusing on media businesses and over the past decade has managed more than £300m of BPR qualifying investments.
Typical exits from this type of product would be structured as either a capital reduction or a matched bargain (see page 16 of the Brochure for more details).
Initial Fee - 2% (this fee will be waived for the first £5m of investment received by the Service)
Annual Management Charge - 1% (deferred until the target return of 3% per annum is delivered to the investor)
Custodian Fee - up to 0.125% per annum
Dealing Fee - 1% on exit (to include stamp duty where incurred)
Full Risk Factors can be found on pages 19 to 21 of the Brochure.
Key trading risks identified are (a) counterparty risk; (b) production risk; and (c) performance risk.
(a) Counterparty risk: the risk that the ultimate broadcaster of programming (e.g. ITV) defaults on payment. This risk is mitigated in three ways: (1) through credit assessment and due diligence on the programme buyers – typical buyers might include BBC, NBCUniversal, National Geographic, Sky, Lifetime; Netflix; ITV; (2) direct contractual obligation on the broadcaster to pay all licence fees directly to the relevant investee company; and (3) right of re-sale to alternate broadcaster (i.e. in the unlikely event that the broadcaster doesn’t pay then the rights in that show will be sold to another broadcaster). The Manager believes the risk of a broadcaster payment default is extremely remote;
(b) Production risk: the risk that a production is not completed. This risk is mitigated through standard production insurances, including completion bonds when appropriate. The risk of delivery failure in broadcaster commissioned television production is considered very remote;
(c) Performance risk: returns will in part be determined by the number, size and length of loans that the investee companies funded by the Service can successfully negotiate. It is entirely possible that some loans may be repaid early, or the investee companies may experience a delay in sourcing suitable borrowers, thus negatively impacting on the target return to investors.
The content above has been provided by Great Point Investments Limited who are authorised and regulated by the Financial Conduct Authority under firm registration number 606798.