Frequently Asked Questions
Inside The Kedungu Fund: 2025 Growth,
Strategy & Results
General Information about The Kedungu Fund
What is The Kedungu Fund?
The Kedungu Fund is a real estate investment venture focused on high-growth property investments on Bali’s thriving west coast. The Fund offers a diversified land banking, private equity, commercial, and residential property portfolio.
What’s the entry ticket for investing in the fund?
The minimum investment amount is $30,000, providing an accessible entry point into Bali’s property market for individual and institutional investors. New investors purchase shares at the current NAVPS which is published and updated in the Investment Deck
What is the investment term of The Kedungu Fund?
The fund launched on March 1st, 2023 and has a fixed term ending March 31st, 2029. All assets will be liquidated by then, and proceeds distributed to investors after liquidation.
How is the fund structured?
The Kedungu Fund is a real estate investment venture, where investors (Limited Partners or LPs) hold shares in a Singapore-based hold-co entity. This entity owns and controls property acquisitions and developments through an Indonesian subsidiary SPV.
Why is the fund based in Kedungu?
Kedungu is strategically located in Bali’s western region, a high-growth area due to increased tourism, infrastructure development, and rising real estate demand. The region’s proximity to popular destinations and scenic landscapes makes it ideal for pioneer investors.
Investment Returns and Distribution
What are the expected returns for investors?
Since launching on March 1st, 2023, the fund has delivered strong performance: $1,000 invested at launch grew to $2,809 by January 2026 — a ~181% gain in under 3 years. The fund targets a 2x–3x return by March 2029 based on current portfolio performance and Bali’s high-growth real estate market.
How are returns distributed to investors?
Dividends are distributed yearly and at maturity (upon fund liquidation on March 31st, 2029). Income generated from properties and investments is reinvested during the fund’s term to maximise growth, with distributions made annually and upon final liquidation.
Are dividends reinvested or distributed?
The fund primarily focuses on reinvesting earnings to maximize growth, though a % of opportunistic dividends may be distributed if the investor elects to do so.
When will the fund liquidate its assets?
All assets will be liquidated in 2029, with final distributions to investors. If delays occur, updates will be provided, and any additional income earned during the extended holding period will continue to benefit investors.
Risk Management and Investor Protection
What measures does the fund take to manage risk?
The fund’s diversified investment strategy mitigates risks by spreading investments across different property types and locations. Additionally, rigorous market research with independent valuations and audits support stability, transparency and growth.
What protections are in place for investors?
Investor protections include clear ownership rights, regular reporting and audits and legal compliance.
How can investors be assured of returns and minimal risk?
By carefully selecting assets, implementing a diversified strategy, and focusing on high-demand areas, the fund aims to reduce risk and deliver stable returns. All investments carry some inherent risks, but the fund’s approach is designed to enhance growth potential.
Property Acquisition and Development Plans
What types of properties do the fund typically invest in?
The fund’s portfolio includes residential, commercial, and hospitality properties and businesses, such as villas, and mixed-use commercial and retail spaces in high-demand areas.
What types of land has the fund already acquired, and where?
The fund has secured multiple land assets in the high-growth region of Kedungu along Bali’s west coast, particularly in commercial areas with significant potential and upcoming infrastructure developments.
What future land acquisitions are planned?
The fund will continue to target regions with strong potential for appreciation, infrastructure improvements, and tourism growth. Investors are updated as new acquisitions are finalized.
What criteria are used for selecting land and properties?
Land and properties are chosen based on appreciation potential, proximity to new infrastructure, local demand, zoning compliance, and regional development plans.
What kinds of developments are planned for the fund’s properties?
Current developments include: Grow in Kedungu International School (1,500m²) — 100% completed and operational since August 2025; Kedungu Plaza (880m²) — a shopping centre, Kedungu Square — an art gallery and café concept; Kedungu Medical Centre — featuring GPs, specialist clinics, and wellness facilities; Bali Beach Glamping — an equity stake acquired by the fund (operating). These projects are selected to capitalise on Bali’s growth in tourism and expatriate communities.
What community improvements are underway in areas where the fund holds land?
Key projects include new roadways, utilities expansion, street lighting, Railway links and a new airport in Northern Bali. These developments support the fund’s growth strategy by enhancing property values in the targeted areas.
Financial, Tax and Fee Structure
What fees are associated with investing in the fund?
The fund operates with the following fee structure: Operating Fee: 2% of AUM per annum; Acquisition Fee: 3% of property purchase price; Asset Management Fee: 3% of gross revenue; Capex Management Fee: 3% of construction costs; Loan Arrangement Fee: 1% of loan value; Asset Disposal Fee: 3% of sale price. Performance fees are tiered: returns of 0–8% go entirely to LPs (8% Preferred Rate); returns of 8–14% go to the GP as a catch-up; returns of 14–24% are split 80% LP / 20% GP; returns above 24% are split 65% LP / 35% GP.
How is the fund’s share price determined?
Share prices are based on the fund’s Net Asset Value (NAV), reflecting independent asset value adjustments. Entry share prices are secured at the time of an investor’s initial investment.
What is the mechanism for valuing different fund assets?
Valuations are based on:
- Cash on Deposit: Checked at fund valuation times.
- Ongoing Construction Contracts: Valued based on supplier billing.
- Bare Lands: Assessed by Fair Market Value (FMV) of acquired properties.
How much tax will I need to pay?
Tax obligations vary by an investor’s country of residence. Investors should consult tax professionals to understand specific tax implications for foreign investment income. Profits displayed are net of tax.
What happens if share numbers increase due to new investments?
Issuing new shares will dilute percentage holdings, but the rising NAV offsets any impact on overall share value as the asset growth increases in alignment.
Future Plans and Investor Options
What is the onboarding process?
The onboarding process for The Kedungu Fund is managed through Sleek, a secure and streamlined platform. Here’s how it works:
- KYC Verification: Investors submit identification and documentation on Sleek to meet Know Your Customer (KYC) requirements, ensuring compliance with regulatory standards.
- Signing Legal Documents: All necessary agreements and legal documents are accessible and can be digitally signed directly on Sleek, making the process efficient and paperless.
- Funds Transfer: Once verification and documents are complete, investors can proceed to transfer their investment funds securely through Sleek.
- Access to Dashboard and Reporting: After onboarding, investors receive access to a personalized dashboard on Sleek. This provides real-time insights, regular performance updates, and access to all fund-related reports.
Using Sleek ensures a seamless, compliant, and transparent onboarding experience, allowing investors to start and manage their investments with ease.
Can investors reinvest in future funds with The Kedungu Fund?
Yes, investors will have options to reinvest in future “Kedungu Funds”. Plans are underway to provide flexibility for reinvesting without incurring penalties in the future.
Is there a lock-up period for my investment?
Yes, invested capital is held until total liquidation by March 31st, 2029 after all land assets are liquidated. During this period, investors can sell their shares to a third party or bank to The Kedungu Fund under certain conditions.
How often will I receive updates on my investment’s performance?
Investors receive regular updates, and they can track real-time progress through their investor dashboard.
Corporate Social Responsibility (CSR) and Community Impact
How does The Kedungu Fund contribute to sustainable community development?
As one of the larger landholders in the Kedungu area, The Kedungu Fund is committed to ensuring that community development aligns with sustainable, eco-friendly, and community-focused principles. We’re able to influence land use and development to create more green spaces, pedestrian walkways, open areas, and public parks, promoting a healthier environment and a better quality of life for the whole community.
What specific projects has The Kedungu Fund funded to improve community infrastructure?
The Kedungu Fund has invested in several community-oriented projects, including:
- Street Lighting: We have installed 80 new street lights throughout Kedungu (commenced late 2024, total cost IDR 242 million / ~$15,000 USD), significantly enhancing safety and accessibility at night.
- Shortcut Road: We are planning to construct a new shortcut road to improve connectivity between the two main commercial areas, easing traffic flow and reducing travel time.
- Beach Webcams: Our installation of live webcams on the beach not only promotes the area’s natural beauty but also provides real-time views that support tourism and environmental monitoring.
- Subak Walkways (Green Waterways): We’re campaigning for non development of green walkways that run alongside traditional Balinese “Subak” irrigation systems, encouraging walkability and honoring local agricultural heritage.
- Setback Construction: We maintain a setback and promote the community to not build on main roads for new buildings, reducing noise, enhancing pedestrian spaces, and creating a safer, quieter environment for the community.
- Clothing Donations: The fund coordinated a community clothing drive, collecting and donating 201kg of clothing to those in need in the local community.
- Volcanic Ash Bricks: We are exploring the use of volcanic ash bricks as an eco-friendly, locally-sourced building material, reducing construction waste and supporting sustainable development.
- Water Harvesting and Grey Water Filtration: We are implementing water harvesting systems and grey water filtration to reduce water consumption and promote sustainable water management across our properties.
How does the fund support community engagement?
We regularly engage with the Kedungu community banjar to understand local needs and priorities. By participating in community meetings and sponsoring local events, The Kedungu Fund aims to create a responsive and collaborative relationship with residents and stakeholders.
What role does The Kedungu Fund play in creating public spaces?
Our land management strategy includes reserving spaces for parks, walkways, and other open areas, which serve as communal gathering places, encourage physical activity, and promote green space preservation. By integrating public spaces into our developments, we’re fostering a more vibrant, connected, and green Kedungu community.
Are there any future CSR projects planned by The Kedungu Fund?
Yes, the fund has completed and continues to develop several CSR initiatives:
- Grow in Kedungu International School: The 1,500m² international elementary school is now 100% completed and fully operational (opened August 2025), providing quality education options within the community and benefiting local families.
- Green Pathways and Parks: Expanding on our current efforts, we are designing new walkable pathways and additional park spaces to enhance Kedungu’s appeal as a sustainable and accessible destination.
- Solar Panel Exploration: The fund is exploring solar panel installations across its properties to reduce energy consumption and environmental impact, supporting Kedungu’s transition to clean energy.
How do these projects benefit The Kedungu Fund’s investors?
By improving infrastructure, supporting sustainable practices, and enhancing community well-being, our CSR initiatives not only build goodwill but also add long-term value to our properties and investments. These projects improve the livability and attractiveness of the Kedungu area, which can positively influence property values, rental demand, and the overall success of the fund.
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