Voyager Global Group (ASX:VGR), formerly Sprint Energy, is proceeding with the acquisition of Voyager Global Choice Pty Ltd (VGC) away from its previous focus in oil and gas exploration.In October, shareholders approved Sprint's acquisition of Sydney-based VGC, its change of direction and its name change to Voyager Global Group.The acquisition is still subject to all VGC Shareholders entering into share sale agreements to enable the Company to acquire 100% of VGC.Voyager is offering 62,283,457 on a pro-rate basis to acquire VGC.Voyager Global ChoiceVoyager Global Choice's business model is to facilitate the investment by Australian retail investors into a range of individual funds managed by offshore-based fund managers. The proposed offshore-based fund managers will all be highly credible groups with large industry profiles and offer funds with an official investment-grade (or similar) rating from industry ratings group Morningstar or other similar groups.VGC will receive administration fees from the offshore fund managers based on assets under management.Market commentators have noted that as the size of funds in the Australian superannuation industry continues to grow, the pool of investable assets within the Australian market will not provide investors with a sufficiently large universe of attractive investment opportunities.It is seeking commitments from the six offshore fund managers for non-dilutive and non-recourse contributions towards marketing overheads of at least US$3.6 million per annum.The company is currently in the final stages of securing this multi-year funding commitment.In return, Voyager will be entitled to a trailing commission on all amounts invested into these US-based funds from the Australian market. VGC intends on having various Australian Funds established which will invest directly into an Offshore Fund specific to that Australian Fund.Each of these Australian Funds will have a responsible entity, custodian and fund administrator all of which are external and unrelated to the Company or VGC.Investors will invest funds into the Australian Fund which correlates with their chosen Offshore Fund.Those funds will be pooled within the Australian Fund and then the Australian Fund will invest the investors' funds into the corresponding Offshore Fund.Retail investors will use the mFund platform in the same way that shares are bought or sold on the ASX. Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.
