The Harvest Private Wealth Income Fund 4 SP acquired 1.43 million units of Dasin Retail Trust for S$557,700 in an off-market transaction, becoming a substantial unitholder with a 5.02 percent stake, up from 4.87 percent previously, according to a filing to SGX Friday.
In addition, Harvest Private Wealth Thematic Fund SPC, which holds all of Harvest Private Wealth Income Fund 1 SP and Harvest Private Wealth Income 4 SP, is deemed interested in the units, and its total deemed interest has risen to 7.08 percent from 6.75 percent, the filing said.
Harvest Private Wealth Thematic Fund SPC’s deemed interest in Dasin Retail Trust increased by 2.82 million shares.
The filing said that in addition to Harvest Private Wealth Income Fund 4 SP’s acquisition of units on 23 December, there were a “series of market transactions” via the two funds.
The Harvest Private Wealth Thematic Fund SPC is a segregated portfolio company incorporated in the Cayman Islands and operating as an investment fund seeking returns via thematic investment strategies; it is managed by H Partners Private Wealth Management (Singapore), which is ultimately controlled by Harvest Fund Management.
Harvest Private Wealth Thematic Fund SPC has more than 50 investors, mainly Asian and Southeast Asian high net worth individuals, corporates and institutions, with assets under management of around US$140 million as of end-April, according to a prospectus unrelated to Dasin Retail Trust.
Harvest Advisors Investment Management, which submitted the filing on the acquisition of Dasin Retail Trust units to SGX, is a wholly owned subsidiary of Harvest Fund Management, founded in Beijing in 1999. Harvest Fund Management, one of the ten earliest established fund management companies in Mainland China, has around 1 trillion yuan under management, the prospectus said.
Harvest Group has around US$200 billion in assets under management, and provides clients with equity, fixed income, multi-asset and alternative strategies, as well as specialist investment services through segregated accounts and investment funds to pension funds, financial institutions, sovereign wealth funds, family offices and ultra-high net worth individuals, according to its website.
Harvest Advisors Investment Management has a Capital Markets Services license in Singapore and is regulated by the Monetary Authority of Singapore.