Fund overview
The Australian Companies Fund aims to create long term wealth through a handpicked portfolio of 15-25 companies, most based in Australia, we believe are trading at prices different to their intrinsic values.
Investment objective
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The Fund’s objective is to provide long term capital growth and outperform the greater of the S&P/ASX 200 Accumulation Index or the RBA cash rate over rolling seven year periods. The Fund is not intended to replicate the index, investing in a concentrated portfolio of predominantly undervalued Australian equities, with the added attraction of some exposure to PM Capital’s global best ideas. The Fund uncovers and profits from market anomalies in Australia, but also applies global market anomalies to the Australian market. |
Fund facts
Fundamental, bottom-up, research-intensive approach
As a guide, 15-25 listed businesses.
7 years plus
The Fund may be appropriate for investors seeking capital appreciation over a seven plus year investment horizon.
Kevin Bertoli
John Whelan
Unlisted Australian equity fund, $A, unhedged
APIR PMC0101AU
ARSN 092 434 467
Investment product ratings*
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The Fund may be suitable if you want:
Capital growth
Provided by a demonstrated, focused, patient and considered process honed over 35 years - with some short term volatility
Access
To a unique portfolio of Australian equities with additional global exposure, powered by domestic and international market insights
A long term approach
The Fund concentrates on building long term wealth through patience and conviction
Differentiated
The Fund provides opportunities in the Australian market significantly different to those provided by the index and more traditional Australian equity funds.
Meet the Managers
Kevin Bertoli |
John Whelan |
Why invest?
EstablishedThe Fund’s process has been shown to be effective, based on a philosophy developed by Paul Moore, over 35 years. This has produced attractive long term capital growth. |
UnrestrictedThe concentration of the Australian equities market means many managers cannot add significant value. We have an authentic investment process where our exposure to industry sectors or market capitalisation is determined solely by our conviction in the risk/ reward opportunities that we identify within portfolio guidelines. No conviction = no investment. |
Opportunistic, concentrated and contrarianThe Fund aims to create long term wealth for our co-investors by finding and exploiting investment anomalies, in the Australian market, informed by our international market insights. We find opportunities where others may only see risks so we will produce different outcomes to both the benchmark and traditional Australian equity funds. The portfolio is concentrated, typically 15-25 stock-specific ideas in which we have the strongest conviction. |
Global expertise and value addThe Fund can invest up to 20% of its value in PM Capital’s international stock ideas. In the highly concentrated Australian market this can give you mostly Australian market exposure but with a greater opportunity to invest in companies globally which, determined by PM Capital’s demonstrated investment process, may be more attractive. Through this portfolio construction method the Fund directly benefits from PM Capital’s global investment research that underlies the award winning PM Capital Global Companies Fund. This works in two ways – the Fund can invest in international opportunities identified by the investment team. The Portfolio Manager can also take the market anomalies found globally and use the insights to identify opportunities in the Australian market. |
This information does not constitute advice or recommendations, and is subject to change without notice. It does not take into account the objectives, financial situation or needs of any investor which should be considered before investing. Investors should consider a copy of the current Product Disclosure Statement, and seek their own financial advice prior to investing. Past performance is not a reliable guide to future performance and the capital and income of any investment may go down as well as up due to various market forces. The investment objective is not a forecast, and is only an indication of what the investment strategy aims to achieve over the medium to long term.
Zenith Investment Partners Pty Ltd ABN 27 103 132 672 AFSL 226872 Fund Awards issued 13 October 2023 are solely statements of opinion and not a recommendation in relation to making any investment decisions. Fund Awards are current for 12 months and subject to change at any time. Fund Awards for previous years are for historical purposes only. Full details on Zenith Fund Awards at https://www.zenithpartners.com.au/zenith-fund-awards-2023/
* The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned June 2023) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners. com.au/RegulatoryGuidelines.
The rating issued 09/2022 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice
only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the
product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold
any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes
no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to
access the full report. © 2022 Lonsec. All rights reserved.
