Prospectus Summary — April 2026
AFX Fixed Income
Notes.
Vienna MTF listed, Euroclear cleared, institutional-grade fixed income notes paying 1.5% per month with a 30 business day lock-up period.
Interest Rate
18% pa
1.5% per month
Lock-up Period
30 days
Business days
Minimum
US$125,000
US Dollars
Programme
US$500m
Maximum principal
Executive Summary
Institutional-Grade Fixed Income
The AFX Fixed Income Notes are issued by AFX Fixed Income Designated Activity Company, an Irish-incorporated special purpose vehicle. The Notes are listed on the Vienna MTF (Wiener Börse), cleared through Euroclear and Clearstream Luxembourg, and carry an International Securities Identification Number (ISIN).
Proceeds from the Notes are used to acquire Class A participating shares in AFX Wealth Limited, a Cayman Islands open-ended investment fund. The Fund employs a diversified trading strategy across foreign exchange, contracts for difference, equity indices, commodities and crypto CFDs, using algorithmic trading, technical analysis and market sentiment evaluation.
The Notes pay interest at a rate of 1.5% per month (18% per annum), subject to the Fund's performance and ability to pay dividends on the underlying Class A Shares. The Bank of New York Mellon SA/NV (Dublin Branch) acts as Paying Agent, providing institutional-grade payment infrastructure.
Key Terms
Note Parameters
Issuer
AFX Fixed Income DAC
Ireland (Reg. 811258)
Currency
US$
United States Dollar
Interest Rate
1.5% per month
18% per annum
Lock-up Period
30 Business Days
From date of acquisition
Minimum Investment
US$125,000
US$1 increments thereafter
Programme Size
US$500,000,000
Maximum principal amount
Maturity
31 December 2076
50-year maturity
Listing
Vienna MTF
Wiener Börse
Interest Payments
Interest is payable 7 days following receipt by the Issuer of a dividend on the Class A Shares. Day count convention: 30/360. Payments on the Notes depend entirely on amounts received from the Class A Shares held by the Issuer. The Calculation Agent is Waystone Centralised Services (IE) Limited.
Product Structure
Multi-Jurisdictional Framework
The Notes are structured through a multi-jurisdictional framework with institutional-grade service providers at each level of the investment chain.
Issuer
AFX Fixed Income DAC
Reg. 811258 | Vienna MTF Listed
Fund
AFX Wealth Limited
Open-ended exempted company
Investment Manager
AFX Financial Management Ltd
Algorithmic & discretionary trading
Gateway Broker
AFX Markets Ltd
7+ institutional liquidity providers
Paying Agent
Bank of New York Mellon SA/NV
Global custodian & payment infrastructure
Clearing & Settlement
Euroclear / Clearstream Luxembourg
Standard institutional clearing
Capital Flow
Investor
Subscribes for Notes
AFX Fixed Income DAC
Issuer (Ireland)
AFX Wealth Limited
Fund (Cayman Islands)
AFX Financial Mgmt
Investment Manager (BVI)
AFX Markets Ltd
Gateway Broker
Investment Strategy
Diversified Trading Approach
The Fund employs a diversified trading strategy across multiple asset classes and instruments, including major and minor FX pairs, contracts for difference on equity indices, commodities, and crypto CFDs.
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
Portfolio Allocation
Redemption & Liquidity
Flexible Access to Capital
Note Redemption
- Early redemption permitted outside the 30 business day lock-up period
- Subject to Issuer having available funds from Class A Share redemptions
- Minimum denomination: US$125,000 and US$1 increments thereafter
Class A Share Redemption
- Redemption on the first business day of each month
- 30 business day lock-up from date of issue
- 25% gate provision if requests exceed Fund NAV threshold
- Directors may delay or suspend redemption in certain circumstances
Infrastructure
Service Providers
Appointed Service Providers
Liquidity Partners
The Gateway Broker uses liquidity bridge software to execute trades with the following institutional liquidity partners:
Governance
Corporate Oversight
Issuer Directors
Issuer is an orphan vehicle. All shares held by Waystone on trust for charitable purposes.
Fund Directors
Management Shares held by Lee Plaister. Investment Manager directors: Lee Plaister, William Hodgson.
Legal & Regulatory
Regulatory Framework
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 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.