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Discovery Fund Limited*

Profusion Discovery Fund Limited (Profusion) is an Australian incorporated unlisted public company which is registered as a Pooled Development Fund under the Pooled Development Fund (PDF) Act (1992). Its approved investment plan allows the fund to invest in a range of early stage and start up enterprises. After the recession of the early 1990s in Australia, the Government set up Pooled Development Funds to encourage funding of eligible small or medium sized Australian enterprises. In order to attract this capital, the PDF Act established a scheme which provides various tax incentives for the fund and for individual investors.

Profusion’s investment team believes it will be able to achieve superior returns by accessing its combined networks to identify investment opportunities with capable management.

The early 2020 sell-off over the economic impact of the Covid-19 pandemic is causing various disruptions to financial markets. The subsequent recovery in equity and commodity markets primarily driven by Central bank stimulus will present many opportunities for Profusion over the next six to 24 months.

Profusion will seek investments in Australian companies that the management team assesses to be able to achieve above average risk adjusted returns. Profusion will primarily be focused on resource companies in the advanced exploration, early resource and development stages, as this is where the team believes the greatest returns can be made in a relatively short period of time. The investments may be unlisted or listed on the ASX. Profusion will also consider investments in the technology sector.

* Profusion is currently named New Frugalitas Fund which will be renamed at an AGM to be held in Q4, CY20

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PROFUSION Dicovery Fund Limited