This information has been prepared for use only by wholesale clients (as defined under the Corporations Act 2001 (Cth)).
1 The Underlying Fund is a non-diversified, closed-end management investment company that has elected to be registered as a business development company (‘BDC’) under the United States Investment Company Act of 1940.
2 Source: https://www.churchillam.com/
3 Past performance is not a reliable indicator of future returns.
4 An investment in the Fund involves the Fund subscribing for shares of the Underlying Fund (a collective investment), and not directly investing in a given underlying asset. An investment in the Fund involves a high degree of risk that can result in substantial losses.
5 Diversification is neither a reliable indicator nor a guarantee of future returns or capital preservation.
6 Downside inflation protection is not a reliable indicator of protection against future losses.
7 Churchill PCIF Advisor LLC, the investment manager to the Underlying Fund.
8 The Fund and/or the Underlying Fund may not be successful in achieving the investment objective.
9 Indicative target allocation for the Underlying Fund. Please refer to the PDS for further information on the Underlying Fund’s target allocation.
10 Notwithstanding the intention that requests for redemption of Units will be processed on a monthly basis, under the terms of its constitution, the Responsible Entity may accept or reject redemption requests at its discretion. Investors do not have a right to withdraw from the Fund. An investor’s ability to redeem from the Fund will be subject to various factors including available cash in the Fund and the Fund’s ability to redeem from the Underlying Fund. Please refer to the PDS for additional information on redemptions. The Fund’s ability to redeem from the Underlying Fund is subject to the following restrictions:
- Quarterly repurchases at NAV as of each quarter-end, limited to 5.0% of aggregate outstanding (either by number of shares or aggregate NAV) as of the close of the previous calendar quarter
- Shares not held for one year, and repurchased pursuant to the quarterly repurchase program will be repurchased at 98% of current NAV
- Repurchase is subject to approval of the Underlying Fund Board. The Board of Trustees of the Underlying Fund may amend, suspend or terminate share repurchases in its discretion if it deems such action to be in the best interest of shareholders (including the Fund).
11 Management fees include the Fund's management fee of 0.25% of the NAV p.a. for Class A and the Underlying Fund's management fee of 0.75% p.a. The Fund's Administration Fee of 0.15% of the NAV p.a. and the Underlying Fund's estimated expenses of 0.40% p.a. are excluded. Please refer to the Product Disclosure Statement for details. Management fees and costs are current as at the date of publication of this website. These fees may be subject to change in the future.
12 Please refer to the Product Disclosure Statement for details.
13 The Fund is denominated in AUD. The Fund intends to invest in class I shares in the USD denominated share class of the Underlying Fund which will be hedged back into AUD at the Fund level. Depending on the prevailing circumstances, the Fund may or may not hedge, either partially or fully, and has no obligation to hedge any class of shares at all. There can be no guarantee that it will be successful in doing so nor that such hedging will be systematic. Where hedging is used, it may not provide complete protection from adverse currency movements.
Channel Investment Management Limited ACN 163 234 240 AFSL 439007 (‘CIML’) is the responsible entity and issuer of units in the Nuveen Churchill Private Credit Income Fund ARSN 678 164 335 (the ‘Fund’). Nuveen Australia Limited (ABN 981.686.90444) (AFSL 460770) is neither the responsible entity nor the issuer of units in the Fund. Neither CIML, Nuveen Australia Limited nor any of their respective related entities, associates, officers, employees or agents make any representations or warranties, express or implied, as to the accuracy, reliability or completeness of the information contained on this website and nothing contained on this website is or shall be relied upon as a promise or representation, whether as to the past or the future.
An investment in the Fund must be through a valid paper or online application form accompanying the Product Disclosure Statement. Before making any decision to make or hold any investment in the Fund you should consider the Product Disclosure Statement in full. The value or return of an investment will fluctuate and an investor may lose some or all of their investment. Past performance is not a reliable indicator of future performance.
This information is given by Nuveen Australia Limited (ABN 981.686.90444) (AFSL 460770) in summary form and does not purport to be complete. The information should not be considered advice or a recommendation to investors or potential investors in relation to holding, purchasing or selling units in the Fund and does not take into account an investor’s particular investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. For further information and before investing, please read the Product Disclosure Statement and Target Market Determination for the Fund on this webpage within the fund documents above.
Risk factors:
Investing in units in the Fund involves a high degree of risk. See full information pertaining to risks in the Product Disclosure Statement, including the following risks:
- The Fund has no operating history and there is no assurance that the Fund (or the Underlying Fund) will achieve its investment objective.
- You should not expect to be able to sell your units in the Fund, regardless of how the Fund performs.
- You should consider that you may not have access to the money you invest for an extended period of time.
- The Fund does not intend to list its units on any securities exchange, and we do not expect a secondary market in units to develop.
- Because you may be unable to sell your units, you will be unable to reduce your exposure in any market downturn.
- The Fund intends to periodically evaluate and process withdrawal requests, but only a limited number of its units will be eligible for repurchase and repurchases will be subject to available liquidity and other significant restrictions and limitations. See “Disclosure Principle 9: Withdrawals” and “Risk Factors” in the Product Disclosure Statement.
- An investment in the Fund’s units is not suitable for you if you need access to the money you invest. See “Disclosure Principle 9: Withdrawals” and “General Risks of investing into the Fund: Underlying Fund Risk: Liquidity Risk” in the Product Disclosure Statement.
- The Underlying Fund intends to use leverage, which will magnify the potential for loss on amounts invested in us. See “General Risks of investing into the Fund: Underlying Fund Risk: Leverage” in the Product Disclosure Statement.
- The Underlying Fund intends to invest in securities that are rated below investment grade by rating agencies or that would be rated below investment grade if they were rated. Below investment grade securities, which are often referred to as “junk,” have predominantly speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal. They may also be illiquid and difficult to value.
- An investment in units in the Fund will, via the Fund’s investment in the Underlying Fund, also expose an investor to all of the risks of the Underlying Fund.