MICAP undertakes three types of review: an Offer Review, a Manager Review and a Promoter Review. Our reviews are designed to be insightful, balanced and objective, and are written in a consistent format for ease of comparison between reviews.
Offer Review
The Offer Review analyses the fund, discretionary investment service or the underlying company (if a single company offering) by reviewing items such as:
the underlying investment’s advantages and disadvantages
the target market
the fairness of its costs
whether the risks have been identified and mitigated
the sector and sub-sector of investment
what deals are in the pipeline
the exit strategy and
the financial stability of the offer
Manager Review
The Manager Review examines the suitability of the team managing the investment, and considers items such as:
its record of tax-advantaged investments
the qualifications and experience of its key people
its investment selection process
its financial standing
its fees and remuneration
its client service and administration
the custody of assets
its fund raising history
any services provided to advisers and investors
Promoter Review
The Promoter Review looks at the team responsible for marketing, distributing and promoting the investment by examining items such as:
its record in fund raising by offering by year
the qualifications and experience of its key people
its client service and administration
its allocation of resources
any conflicts of interest
any adviser or investor support both pre-sale and post-sale