Our Services
Analysis, Investment Desicion Support and Operational Control
Comprehensive Analysis
Comprehensive Pre-Investment Analyses and Ongoing Monitoring throughout the Investment Life Cycle
Objective’s analysis is a comprehensive, professional and an independent evaluation of the fund, designed to assist investors in the process of investment decision-making. The analysis analyzes all aspects of the fund and reviews its various characteristics. Each investor is steered by the analysis and use it to substantiate an investment decision.
To perform the analysis, Objective’s team obtains a large range of materials from the fund, including, inter alia, questionnaires, presentations, private placement memorandums (PPMs), quarterly reports administrator reports, and uses external information systems for market and returns analyses, etc.
For investors electing to make an investment, Objective continues to monitor the fund and issues an annual analysis that reviews its status. Moreover, Objective initiates meetings with the fund’s representatives, both prior to the investment and throughout the fund’s life cycle.
Key Tools Used to Prepare Our Analysis
Assessment and Analysis Model
The analysis contains many chapters, from Strategy to Risk Management (a structured model used to analyze funds) and addresses all aspects of the fund. In addition, the model differs in terms of the aspects that Objective evaluates based on the type of fund (real estate fund, infrastructure fund, credit fund and others).
Investment Mapping Questionnaire
A detailed questionnaire used to map the investment is delivered to the fund and completed prior to meeting Objective’s team, which allows the team to arrive at the meeting well-prepared. The questionnaire is consistent with all components of the analysis in line with the model.
Content Gathering and Data Room Access
Objective’s team receives, on a regular basis, a large amount of content from the fund, which includes, among others, presentations, a due diligence questionnaire (DDQ), limited partnership agreement (LPA), private placement memorandum (PPM), quarterly reports, administrator’s reports, update on current transactions and more.
Meeting with the Funds
The fund’s representatives and Objective’s team meet following a thorough preparation and review of all materials received from the fund. The purpose of the meeting is to become acquainted with those operating the fund. Together with the fund’s representatives, Objective reviews the investment policy, transactions that have already been completed, involvement in the portfolio’s companies as well as internal documents.
Advisory Committee
Shortly prior to the meeting with the fund’s representatives, the Advisory Committee convenes. The Committee consists of Objective’s CEO, Mr. Boaz Warshavsky, Objective’s Senior Advisor, Mrs. Miri Ben Yehoshua, and an analyst who specializes in the fund’s area of activity. The purpose of the Committee is to process the issues raised at the meeting with the fund’s representatives and make decisions relating to the structure of the analysis. Moreover, the Committee passes follow-up questions along with a request for additional materials relating to the issues that the Committee wishes to further explore.
Extensive Database
Objective employs both local and international information systems to review the market, the fund’s performance, and to conduct a comparison to the sector and industry.
Broad Professional Knowledge and Practical Experience
Each member of Objective’s team has acquired many years of professional experience in a variety of specializations according to the type of fund. Our analysts analyze different aspects of each fund and provide a wider and more comprehensive service.
Analysis Outline
The analysis structure described below is a permanent format to which Objective adds layers and makes adjustments according to the characteristics of each fund.
Executive Summary
The Executive Summary chapter concisely and clearly presents all key insights derived throughout the analysis in a focused manner. It includes a brief overview of the fund’s nature, background on the managing entity and management team, investment strategy, primary return targets, fundraising terms, and the main identified risks, along with the mitigation measures implemented. This summary enables readers to gain a comprehensive yet condensed understanding of the analysis, serving as an initial reference point for understanding the investment’s nature and structure.
General Background
Strategy
This chapter offers a detailed account of the fund’s investment strategy, including its primary and secondary areas of focus, geographic and sectoral orientation, transaction types, and the financial models employed. It includes an in-depth review of the investment model, legal structuring of deals, collateral frameworks, and protection mechanisms. The chapter also outlines the underwriting process, due diligence procedures, and the ongoing management of investments. Furthermore, it describes the fund’s investment criteria and project selection processes, highlighting the competitive advantages embedded in its transaction methodology.
Performance Analysis
This chapter presents a comprehensive analysis of the fund’s return targets, detailing past performance of predecessor funds, comparative results against peer funds and relevant benchmarks, and a review of both external and internal factors that may affect the fund’s performance. It includes detailed historical performance data of previous funds, return rates, risk-return ratios, volatility measures, comparative analysis versus public markets, default rates, and additional data impacting the fund’s expected returns.
Fundraising Policy
The chapter provides a detailed overview of the fund’s investment terms, including fundraising targets, minimum investment requirements, management fees, performance fees, fee structure and calculation methods, and investor exit policies (liquidity terms). It also outlines any exceptional or unique features of the offering, such as special incentives for early or large investors.
Risk Management
This chapter offers a thorough and structured overview of the key risks identified during the due diligence process. The risks are presented in a clear table, categorized by type, severity, and corresponding mitigation strategies. Risk categories include market, credit, leverage, interest rate, liquidity, regulatory, sector-specific, and key person risk, all carefully evaluated with the fund’s mitigation approach clearly articulated.
Strengths
This chapter highlights the fund’s key strengths, based on the managing entity’s history, the management team’s experience, demonstrated achievements, financial stability, strong comparative performance, and significant competitive advantages. These strengths are emphasized as factors positively impacting the likelihood of investment success.
Summary
The summary chapter synthesizes all findings from the analysis in a clear and structured manner. It provides a holistic view of all examined aspects without offering direct investment recommendations. The aim is to give prospective investors a complete and balanced understanding of the fund and its potential to achieve its stated objectives.
Appendix – Market Analysis
The market analysis appendix includes a detailed and comprehensive review of the economic, sectoral, and business environment in which the fund operates. It features a macroeconomic overview based on up-to-date and reliable data from recognized institutions and supports understanding of market dynamics, demand and supply trends, growth drivers, and potential risks. Furthermore, the appendix is tailored to the specific type of fund—for example, a credit fund will include a focused analysis of the credit market and comparable debt funds, while a real estate fund will include an in-depth review of the real estate sector and relevant peer funds. This section provides a broader context for evaluating the investment opportunity and assessing external factors influencing the fund’s success.
Additional Appendices
The additional appendices present supplementary, high-quality, and detailed information that expands upon topics covered in the main body of the analysis. These may include in-depth performance reviews of prior funds, detailed profiles of senior management and investment professionals, ESG policy documentation, representative deal analyses, and other relevant data intended to help the investor form a well-rounded and comprehensive understanding of the fund, its character, and operational model. These appendices serve to deepen the informational base and support well-informed investment decision-making.
Analysis throughout the Investment Life Cycle
For those investors who decide to invest in the analyzed fund, Objective will continue to regularly monitor the fund and produce an annual report based on the enhanced pre-investment analysis and changes that actually occurred in the fund compared to the planning stage. The annual report contains, among others, changes in the fund’s structure, a report of the actuall investments made and their impact on the fund’s return, an update on the market changes and the realization of risks (if any risks occurred and new risks are added). The annual report allows the investor to obtain a complete and reliable picture and remain updated on his investments.
Alternative Investment Services
Assisting Investors in Making Alternative Investment Decisions
Objective guides and supports potential investors in the process of portfolio diversification with alternative funds. Our services are tailored to the investor’s needs, including attendance at Investment Committee meetings, presenting opinions, reviews and reports.
Objective offers several services in the scope of alternative investments:
Tailored Alternative Investment Stragety
Objective’s services includes meetings with the investor, analyzing the investor’s alternative investment portfolio, in which an overview is provided, inter alia, of the alternative investment funds, along with personally tailored guidance.
Presentation of Alternative Investment Funds
Objective provides an analysis overview of an alternative fund chosen by the investor; comprehensive explanation, industry knowledge and strategic insights on the fund’s suitability to the investor’s needs. Objective’s profound analysis of the alternative investment fund will enable the investor to decide whether to include it in its general investment portfolio and to what extent.
Alternative Investments Knowledge-Base
A broad overview of all current raising capital funds in the market, focusing on different categories (hedge funds, real estate funds, infrastructure funds, credit funds and others) according to the investor’s requirements. With this information, the investor can obtain a broad picture of those funds that are relevant to him, and if he is interested, he can initiate an analysis of the fund he wishes to explore. This service enables the investor to make better-reasoned decisions that align with thier interests.
External Operational Control
Investments in Alternative Funds
Many investors carry out the internal process of investment operations of alternative funds manually, as opposed to their tradable investments for which data is recorded in the bank’s systems based on continuous reports from the stock exchange. The investor also carries out the operational aspect of the investment, according to instructions and reports provided by the fund’s administrator (e.g., the number of units held by the investor, money at call, holdings value).
Some investors do not supervise the activities of their Operations Department and their bank as they operate under heavy load and difficulties in maintaining control of all aspects of the investment.
Objective’s control services are secondary controls of the alternative investment activities of the investor Operations Department and its bank. Objective provides a quarterly control service includes due dilligence of the alternative investment portfolio data, which includes identification of failures & monitoring activities in all aspects: security definition, financial movements, revaluation of assets, returns and management fees and verifying the data in the funds’ reports.
Types of Controls:
1.Monitoring and overseeing the revaluation of the alternative invested funds.
2.Adequacy Check to ensure that periodic reports and updates are complete, accurate and up-to-date, which are used as a basis for the revaluation of the investment funds.
Objective’s control servies are based on the following data:
Email correspondence, quarterly reports and historical data regarding alternative investment funds from the investment house and the operating bank.
Our control services will focus on the following:
Definitions of a Security – verification of correctness of asset classification.
Financial Transactions – evaluation of the correctness of execution of financial orders.
Revaluation of Assets – comparison between the actual results of the revaluation and the funds’ statements.
Returns – calculation of funds returns.
Management Fees – tracking management fees and ensure accordance with valid agreements.
