VICTOR SMORGON PARTNERS RESOURCES GOLD FUND

Victor Smorgon Partners Resources Gold Fund aims to deliver investors superior returns by offering access to a concentrated long/short portfolio of global gold and precious metal equities, royalties and streaming, physical gold & precious metal ETFs.

Victor Smorgon Partners Resources Gold Fund will invest in and otherwise gain exposure to gold and other precious metals through a combination of:

• Australian and/or global gold and precious metal equities, royalties and streaming assets (primarily in Tier 1 Jurisdictions)
• physical gold and other physical precious metals
• interests in Australian and/or global precious metal exchange traded funds
• making other direct and indirect investments in gold and precious metals.

Investing in the Fund gives wholesale investors the ability to invest alongside the Victor Smorgon Group, with the following benefits:

• A single commodity (gold) portfolio of investments that historically is negatively correlated to the general market. 
• Fundamental research-based process, focused on domestic and global companies with good management that offer value and above-average growth potential 
• A more balanced exposure to the full mine life cycle of global gold explorers, developers and producers versus market weighted Gold Index’s that have an extreme concentration risk towards large producers.
• A portfolio of investments with their assets located primarily in Tier 1 Jurisdictions. This minimises the jurisdictional risk of the portfolio. This is particularly important during times of heightened geo-political risk.
• A maximum concentration risk for any single stock position of 20% of the portfolio at cost.

The return of capital and the performance of the Fund are not guaranteed by any person or organisation, including Victor Smorgon Partners, Gannet or any related or associated entity or person. Therefore, each investor should carefully consider the risks of investing and, where necessary, seek professional advice as to the suitability of investing in the Fund.

Please refer to the Information Memorandum for further details.

The offer of interests in the Victor Smorgon Partners Resources Gold Fund "Fund" is prepared and issued by Gannet Capital Pty Ltd (ACN 139264690 AFSL 000340799) in its capacity as the Trustee of the Fund. The investment manager is Victor Smorgon Partners Pty Ltd (ACN 630 512 739), an authorised representative of AFSL 000340799.