Primark Meketa Interval Fund Announces Fee Reductions

Primark Meketa Private Equity Investments Fund, a closed-end interval fund advised by Primark Capital LLC and sub-advised by Meketa Investment Group Inc., has reduced some of its anticipated annual expenses for its Class I and Class II shares.

Other expenses – defined as professional fees and other expenses that the fund will bear, including initial and ongoing offering costs and fees and expenses of the administrator, transfer agent, and custodian – were reduced from 0.87% to 0.53% for both share classes.

Acquired fund fees and expenses were reduced from 1.09% to 0.8% for both share classes.

Total annual fund operating expenses before fee waivers and expense reimbursements were reduced from 3.56% and 3.71% for Class I and Class II shares, respectively, to 2.93% and 3.08% for Class I and Class II shares, respectively.

Finally, total annual fund operating expenses after fee waivers and expense reimbursements were reduced from 3.09% and 3.34% for Class I and Class II shares, respectively, to 2.8% and 2.95%, respectively.

The fund, which registered with the U.S. Securities and Exchange Commission in July 2020, invests in a globally diversified portfolio of private equity and other investments including direct equity investments in private operating companies, primary and secondary investments in private equity funds, publicly traded private equity investments, and short-term investments.

As in its original prospectus, the fund provided a hypothetical example to illustrate the cost of investing in the fund with the cost of investing in other funds. The example assumes that all distributions are reinvested at net asset value and that the percentage amounts listed under annual expenses remain the same over one year, three years, five years, and 10 years.

Based on a $1,000 investment in the fund, assuming a 5% annual return, Class I share costs went from $31, one year; $105, three years; $181, five years; and $380, 10 years to the following: $28, one year; $89, three years; $153, five years; and $324, 10 years.

Based on a $1,000 investment in the fund, assuming a 5% annual return, Class II share costs went from $34, one year; $110, three years; $188, five years; and $393, 10 years, to the following: $30, one year; $94, three years; $160, five years; and $338, 10 years.

The company reiterated that the aforementioned assumptions in the hypothetical example of a 5% annual return is required by regulation of the SEC applicable to all registered investment companies. The assumed 5% annual return is not a prediction of, and does not represent, the projected or actual performance of shares.

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