Business principles

Keep it simple

Keep costs low

No marketing

Alignment of interests

Go where competition is low

These are the business principles of the Fund because the Manager believes they will lead to the best long term results. These principles guide the structure and the operations of the fund, as well as decisions made by the Manager on behalf of the Investors. We aim to produce win-win outcomes for long term stakeholders.

Fee structure

• Performance fee of 15% is charged above 6% return hurdle, crystallised and paid annually at the end of June each year. This is subject to a high water mark calculated at the fund level.
• Base fee that is charged purely for cost-recovery, and we aim to maintain it under 1% per annum.

We aim to maintain a low-cost structure to keep the % base fee expense ratio charged to Investors to a minimum.

Fund details

The Fund’s name is Second Wave Global and officially began operations 1st of January 2020. The management entity of the Fund is Second Wave Corporation Pty Ltd (ABN 22 637 332 186, AFSL 558394)

Second Wave Global is a global investment fund focused on listed equities. The primary strategy is to identify strong business models and assets with underappreciated potential, buy cheaply and hold on until the potential is realized.

Clement Tseung is the sole director and shareholder of the management entity and is fully responsible for investment decision making for the Fund. This structure minimises conflicts of interest and there is only one fund, one investor and one public track record.