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.
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.
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
ARSN 092 434 467
The Fund may be suitable if you want:
Provided by a demonstrated, focused, patient and considered process honed over 30 years - with some short term volatility
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
The Fund provides opportunities in the Australian market significantly different to those provided by the index and more traditional Australian equity funds.
The Fund’s process has been shown to be effective, based on a philosophy developed by Paul Moore, over 30 years. This has produced attractive long term capital growth.
The concentration of the Australian equities market means many managers cannot 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 contrarian
The Fund aims to create long term wealth for our co-investors by finding and exploiting investment anomalies, wherever they are. 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 add
The 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.
Our co-investors receive access to a unique subset of opportunities to which they would otherwise find difficult to access. The management team have significant investments in the PM Capital Australian Equities strategy – they invest for and with you.
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.
The Zenith Fund Awards were issued on 15 October 2021 by Zenith Investment Partners (ABN 27 130 132 672, AFSL 226872) and are determined using proprietary methodologies. The Fund Awards are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. To the extent that the Fund Awards constitutes advice, it is General Advice for Wholesale clients only without taking into consideration the objectives, financial situation or needs of any specific person. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice. Investors should obtain a copy of and consider any relevant PDS or offer document before making any investment decisions. Past performance is not an indication of future performance. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.
* The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned October 2020) 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 www.zenithpartners.com.au .