In order to approve applications into Digital Capital Management, a criteria must be met. Investors who seek to apply must be classified as ‘wholesale’ in accordance with Chapter 7 of the Corporations Act 2001:
Product value test
If the commencement amount paid by an investor at the time of investment in the fund is $500,000 or greater the person will remain a wholesale investor even if their interest subsequently falls below $500,000
For investment less than $500,000, the following tests will apply:
Personal wealth test
An investor is classified as “wholesale” when the person has net assets of at least $2.5 million or has a gross income for each of the last two financial years of at least $250,000. A certificate by a qualified accountant, no longer than 2 years old, must be provided upon request.
Professional investor test
The Digital Fund is made available to a ‘professional investor’ which includes: