A wholesale investor is one who meets specific criteria under section 708 of the Corporations Act 2001 (Cth). The most common qualification grounds are net assets of at least $2.5 million, or gross income of at least $250,000 in each of the last two financial years, or acquiring securities for at least $500,000.
Wholesale-only funds — including the Archer Wealth Investment Fund — can only be offered to investors who meet one of these grounds. The qualification is captured before the Information Memorandum is released, typically via a written declaration and (for the asset/income test) an accountant's certificate.
The wholesale-only structure exists to protect retail investors from products that don't carry the disclosure protections of a Product Disclosure Statement (PDS). Wholesale investors are presumed sophisticated enough to evaluate the offering on the IM and their own due diligence.
Past performance is not indicative of future returns. Investment risks apply — read the IM before investing.