Higher Fixed Income. Low Risk. Easy To Understand.

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Apex Equity Fund, the ("Fund") receives investment capital by issuing Notes to Investors. Capital is used primarily to acquire Refund Contracts priced to yield 9.0%.  The prices of Refund Contract examples shown on this website will be discounted in order to achieve a 9.0% net yield to the Fund at acquisition.

The Fund will issue 3 year Notes having an interest rate of 8.0%, and 5 year Notes having an interest rate of 8.5%.

Refund Contract revenues are used to make interest payments on the Notes and pay operating expenses.

In advance of  Note maturity, the Fund will determine whether the Note Holder wishes to be paid in full , extend the maturity, or may elect a "payment in kind" which gives the Note Holder the options to receive one or more Refund Contracts as a form of payment of their Note. The difference between the Note payoff amount and the value of Refund Contracts received will be adjusted in cash.

The Refund Contracts have longer term maturities than the Notes issued  by the Fund. To  meet maturing Note obligations, the Fund may do one or more of the following:

Pay the Note from excess cash receipts, accept new  investors, sell Refund Contracts to investors outside of the Fund.

Apex Equity Fund, the ("Fund") assets are limited to fixed payment Refund Contracts contracts from the largest Water Companies operating in the state of California.  See Water Companies tab and Refund Contracts below.

Assets are held in an institutional Custody Account with Equity Trust Company. Refund Contract payments are received by Equity Trust Company FBO Apex Income Fund,

The Notes are Senior Notes having maturities of 3 or 5 years, typically paying interest only monthly or quarterly.  Note Holders may elect to have their interest payments automatically accrue  until maturity. There is one class  of Notes and all Notes have a similar senior claim on the assets .

The Fund holds fixed payment Refund Contracts, collects the payment revenues, and distributes payments to Note Holders monthly or quarterly. Payments are made via ACH payments to the Investor account.

At Note maturity, the Investment Note is paid in full. The investor may seek to extend the maturity or receive a Refund Contract of equivalent value, if agreed to by mutual consent.

Apex Equity Fund, the ("Fund") assets are limited to fixed payment Refund Contracts contracts from the largest Water Companies operating in the state of California.  See Water Companies tab and Refund Contracts below.

Assets are held in an institutional Custody Account with Equity Trust Company. Refund Contract payments are received by Equity Trust Company FBO Apex Income Fund,

The Notes are Senior Notes having maturities of 3 or 5 years, typically paying interest only monthly or quarterly.  Note Holders may elect to have their interest payments automatically accrue  until maturity. There is one class  of Notes and all Notes have a similar senior claim on the assets .

The Fund holds fixed payment Refund Contracts, collects the payment revenues, and distributes payments to Note Holders monthly or quarterly. Payments are made via ACH payments to the Investor account.

At Note maturity, the Investment Note is paid in full. The investor may seek to extend the maturity or receive a Refund Contract of equivalent value, if agreed to by mutual consent.

Apex Income Fund buys from Real Estate Developers their Refundable Deposit Contracts ("Refund Contract") that are direct payment obligations of the largest Water Companies operating in California. 

• Refund Contracts are created when real estate developers build projects that require the extension of water mains and related water infrastructure. 

• The Real Estate Developer deposits with the Water Company the entire cost to extend water services to their project.

• The Water Company constructs the new water system to serve the developers project.

• The Water Company owns the new water system.

• The Water Company refunds the Developers cost over time by making annual payments under the Refund Contract.

Real Estate Developers sell their Refund Contracts because they are not in the business of owning long term Refund Contracts, and they make better profits using the money from selling the Refund Contracts towards building new projects.

Apex Income Fund buys Refund Contracts at a price that earns a 9.0% yield. The income from the Refund Contracts are passed through and paid to the investor as payment on their Investment Notes.

Our affiliate Neptune Investment Company has continuously operated since 1974 as a offeror of direct investment in Refund Contracts, and operated a number of pooled  investment funds holding Refund Contracts and issuing asset backed Notes to investors. 

Since inception, we have transacted more than 5,000 Refund Contracts.

The foregoing information contained and linked to this website is for information purposes only. No securities are offered herein. Any securities offered can only be accomplished by way of a Subscription to a Private Placement Memorandum provided to accredited investors only.