Prospectus Summary
Prepared by Broadbench Wealth | April 2026 | Based on Term Sheet dated April 2026
The AFX Fixed Income Notes are issued by afx Fixed Income Designated Activity Company, an Irish-incorporated special purpose vehicle. The Notes are listed on the Vienna MTF (Wiener Börse), cleared through Euroclear and Clearstream Luxembourg, and will carry an ISIN upon assignment. Proceeds from the Notes are used to acquire Class A participating shares in afx Wealth Limited, a Cayman Islands open-ended investment fund.
The Fund employs a diversified trading strategy across foreign exchange, contracts for difference, equity indices, commodities and crypto CFDs, using algorithmic trading, technical analysis and market sentiment evaluation. The Notes pay interest at a rate of 1.5% per month (18% per annum), subject to the Fund's performance and ability to pay dividends on the underlying Class A Shares.
The Bank of New York Mellon SA/NV (Dublin Branch) acts as Paying Agent, providing institutional-grade payment infrastructure. The minimum investment is US$125,000 with a 30 business day lock-up period from the date of acquisition.
Issuer
afx Fixed Income DAC
Ireland (Reg. 811258)
Currency
US$
United States Dollar
Interest Rate
1.5% p/m
18% per annum
Lock-up Period
30 Days
Business days from acquisition
Minimum Investment
US$125,000
US$1 increments thereafter
Programme Size
US$500m
Maximum principal amount
Maturity
31 Dec 2076
50-year maturity
Listing
Vienna MTF
Wiener Börse
ISIN Assignment Pending
The International Securities Identification Number (ISIN) and Classification of Financial Instruments (CFI) code will be assigned prior to closing. Lee has confirmed the ISIN is expected next week. This prospectus will be updated with the assigned ISIN once available.
The Notes are structured through a multi-jurisdictional framework with institutional-grade service providers at each level.
Investor
Subscribes for Notes (min. US$125,000)
afx Fixed Income DAC
Issuer (Ireland) | Vienna MTF Listed
afx Wealth Limited
Fund (Cayman Islands) | Open-ended
afx Financial Management Ltd
Investment Manager (BVI)
afx Markets Ltd
Gateway Broker | 7+ Liquidity Providers
Issuer
afx Fixed Income Designated Activity Company
Ireland
Orphan vehicle, shares held by Waystone for charitable purposes
Fund
afx Wealth Limited
Cayman Islands
Open-ended exempted company, Class A participating shares
Investment Manager
afx Financial Management Limited
British Virgin Islands
Directors: Lee Plaister, William Hodgson
Gateway Broker
afx Markets Ltd
Mauritius
Executes trades via liquidity bridge with 7+ liquidity providers
Paying Agent
Bank of New York Mellon SA/NV
Dublin Branch
Global custodian and institutional paying agent
Clearing & Settlement
Euroclear / Clearstream Luxembourg
EU
Standard institutional clearing infrastructure
The Fund employs a diversified trading strategy across multiple asset classes and instruments, including major and minor FX pairs (with a focus on liquidity and volatility), contracts for difference on equity indices, commodities, and crypto CFDs. The Investment Manager utilises algorithmic trading systems, technical analysis, and market sentiment evaluation to execute across the following core strategies:
Trend Following
Identifying and capitalising on sustained directional moves across asset classes
Mean Reversion
Trading deviations from historical averages back to equilibrium levels
Momentum Trading
Capturing short to medium-term price momentum across liquid markets
Event-Driven
Positioning around macroeconomic events, data releases and market catalysts
1.5%
Per Month
18%
Per Annum
30/360
Day Count Convention
Interest is payable 7 days following receipt by the Issuer of a dividend on the Class A Shares. Payments on the Notes depend entirely on amounts received from the Class A Shares held by the Issuer. Partial or total loss of interest and principal is possible. The Calculation Agent is Waystone Centralised Services (IE) Limited.
| Role | Entity |
|---|---|
| Issuer Auditor | Eisner Amper |
| Issuer Legal Counsel | Dillon Eustace LLP |
| Issuer Tax Adviser | Eisner Amper |
| Issuer Company Secretary | Waystone Centralised Services (IE) Ltd |
| Issuer Calculation Agent | Waystone Centralised Services (IE) Ltd |
| Fund Auditor | Moore LLP |
| Fund Legal Counsel | M Advisory (Cayman) |
| Fund Administrator | NAV Fund Services (Cayman) Ltd |
| Fund NAV Calculation | NAV Consulting, Inc. |
The Gateway Broker (afx Markets Ltd) uses liquidity bridge software to place trades with the following liquidity partners:
Issuer is an orphan vehicle. All shares held by Waystone on trust for charitable purposes.
Management Shares held by Lee Plaister. Investment Manager directors: Lee Plaister, William Hodgson.
The Notes are governed by Irish law. The Issuer has granted an Irish law governed security interest in favour of the Note Trustee over the Class A Shares and related rights. Recourse under the Notes is limited to the assets of the Issuer secured by this security interest.
The Issuer is not authorised or regulated by the Central Bank of Ireland or any equivalent regulatory body. The Notes have not been reviewed, approved or disapproved by any securities commission, state administrator or regulatory authority.
The Notes are not offered to US persons (Regulation S, Securities Act 1933). Distribution is restricted to jurisdictions where such distribution is lawful.
The Notes will not be rated by any credit rating agency.
This document is prepared by Broadbench Wealth for internal use only and is based on information contained in the afx Fixed Income DAC Term Sheet dated April 2026. It is provided for informational purposes only and does not constitute an offer or solicitation for the purchase or sale of any investment. This material is not suitable for retail customers or consumers under any circumstances. The information does not purport to be complete and is subject to change without notice. Recipients should consult their own legal, accounting and tax advisors before making any investment decision. Capital at risk. Past performance is not a guide to future performance.