Pooled Development Funds (PDF)

Registration is no longer available. Under the programme, fund managers of a pooled development fund can make eligible investments by acquiring newly issued shares in Australian small and medium-sized enterprises with total assets of not more than $50 million. The investee company must have issued shares to raise capital to establish a new business activity, substantially expand production capacity or services, or expand or develop markets. While a PDF holds an investment, it can also acquire non-transferable options to buy shares, lend money, and charge management fees. A PDF cannot invest in companies whose primary activities are retail operations or property development.