Celeste Australian Small Companies Fund. Bridges Presentation The Role of Small Caps in Volatile Markets June 2012
|
|
- Bethanie Mosley
- 5 years ago
- Views:
Transcription
1 Celeste Australian Small Companies Fund Bridges Presentation The Role of Small Caps in Volatile Markets June
2 Business Overview is an Australian based equities manager with a focus on listed small companies. The Celeste Investment team has over 90 years of financial markets experience. is 59% owned by the Investment Team and 39% by the ASX listed Treasury Group (TRG). All staff of are equity holders in the business. The Celeste investment style is process driven and style neutral. As at 30 th March 2012 Celeste managed over $500m in Australian equities. Our investment objective is to outperform our benchmark by 5% pa, over rolling 3 year periods, after fees. 2
3 Why allocate to Small Caps? The Small Cap market is under researched due to the size of the opportunity set and the specialist skills required to analyse the sector The Small Cap opportunity set is over 90% of all listed companies, but around 8% of aggregate market value Stock selection is critical to the generation of superior returns in the Small Cap sector Returns in Small Cap space are very stock specific and hence an investor s selection of asset manager is critical 3
4 What is the Australia small companies sector? Small companies can offer growth rates which are often greater than their large cap peers Small companies may offer industry exposures that are not available in the large cap space Small companies often trade on attractive fundamentals compared to their large cap peers with small companies generally having lower PE s & EV s with higher dividend yields $10,000 invested in 1990 grows to: Australian Small Cap Manager - $212,000 Australian Equity Manager - $88,000 S&P/ASX $77,000 S&P/ASX Small Ordinaries - $53,000 4
5 ASX S&P/Small Ords historic performance Small Ords Accum. Index - Quarterly Returns (%) 1991 to 2011 Dec-11 Mar-11 Mar-10 Mar-09 Jun-08 Dec-07 Dec-09 Jun-05 Mar-05 Jun-04 Mar-04 Dec-03 Mar-02 Sep-07 Sep-00 Mar-07 Jun-06 Jun-99 Sep-06 Dec-05 Sep-98 Dec-04 Mar-12 Mar-03 Mar-98 Jun-01 Dec-10 Dec-02 Sep-97 Dec-99 Jun-07 Sep-02 Jun-97 Sep-99 Sep-05 Jun-11 Dec-00 Mar-97 Mar-99 Sep-04 Jun-02 Mar-00 Dec-95 Dec-98 Jun-03 Sep-11 Mar-01 Jun-94 Jun-95 Dec-96 Sep-95 Sep-10 Jun-10 Jun-00 Sep-92 Sep-94 Sep-96 Sep-93 Dec-06 Jun-12 Mar-06 Dec-97 Jun-92 Mar-94 Jun-96 Jun-93 Sep-03 Sep-08 Sep-01 Mar-95 Mar-92 Dec-92 Mar-96 Mar-93 Dec-01 Dec-08 Mar-08 Jun-98 Dec-94 Jun-91 Dec-91 Sep-91 Mar-91 Dec-93 Sep-09 Jun to to to to to -5-5 to 0 0 to to to to to to +30 The June quarter to date is down over 15%. Whilst this represents one of the more negative return periods, it is not unusual. Historical data shows very poor quarters are often followed by very strong quarters.
6 ASX S&P/Small Ords historic performance Small Ords Accum. Index - Annual Total Return (%) 1991 to to to to to to to 0 0 to to to to to to to +70 Calendar year 2011 was a challenging year for the Small Ordinaries Accumulation Index being down 21.4%. Whilst the 2011 Small Ordinaries Accumulation Index performance was poor, the average return over the last 20 years is some 11.5% per annum.
7 Small Cap Valuations Small Cap Median P/E
8 Investment Process Our investment process requires an understanding of: The Business Model durability, robustness, competitive moat The Quality of Accounting conservative or aggressive in nature Management and Board how do we rate the stewards of capital ESG / Responsible Investment triple bottom line sensitivity and value at risk awareness 8
9 Celeste Australian Small Companies Fund Rules for Small Cap Investing Do I understand what the company does? People make the difference do the management and board act in the interests of all shareholders? There is no substitute for earnings and cashflow generation Can I identify the key variables in a company & how predictable are they? Is there potential to leverage the intellectual property base / business model? Does the business have a point of competitive differentiation / advantage? Do I know what the business will look like in five years time? Never lose sight of valuation A flexible mind set and lateral thought process are critical analytical tools There is no price to buy a company with poor accounting practices How much of the company's current capitalisation could be borrowed if it were a private company? 9
10 Celeste Australian Small Companies Fund Portfolio Positions as at 31 st May 2012 Code Name Active Weight BRG Breville Group 5.4% SKE Skilled Group 4.8% AUB Austbrokers Holdings 4.3% TPI Transpacific Industries Group 4.1% RCR RCR Tomlinson 3.3% NUF Nufarm limited 3.3% WSA Western Areas 3.0% SGN STW Communications 3.0% WHG WHK Group 3.0% DTL Data #3 2.9% Established brands High Return on Equity Experienced People Market Share Conservative Accounting Operating History Intellectual Property Unique Customer Relationships 10
11 Celeste Australian Small Companies Fund Risk Management Stock number 30 to 40 Cash generally held at a transactional level of less than 5% Stock Holding Limit 1% to 10%: Company issued Capital Maximum 10% Average Portfolio Turnover Expected Tracking Error Sector Bias 20% to 30% p.a. - the portfolio generally turns over every 3 to 4 years 8% to 12% - not explicitly targeted but an outworking of our investment process No structural sector bias Fund at a Glance Management Fee 0.95% Performance Fee Benchmark Investment objective 20% of outperformance relative to ASX/S&P Small Ordinaries Accumulation Index, subject to a high water mark S&P/ASX Small Ords Accumulation Index Benchmark +5% pa over rolling 3 years 11
12 Contact Details Level 14, 15 Castlereagh Street, Sydney NSW 2000 GPO Box 4266, Sydney NSW 2001 T F Frank Villante Chief Investment Officer frank@celestefunds.com.au Scott Armstrong Investment Analyst scott@celestefunds.com.au Paul Biddle Investment Analyst paul@celestefunds.com.au Andreas Stephens Investment Analyst andreas@celestefunds.com.au Stephen Hanich Operations Manager stephen@celestefunds.com.au Peter Walsh Head of Retail Distribution Treasury Group pwalsh@treasurygroup.com Shani Maund Client Service Manager Treasury Group smaund@treasurygroup.com Yumi Baldeon Client Services Manager Treasury Group ybaldeon@treasurygroup.com 12
13 Disclaimer This information is not intended to provide advice to particular investors, or take into account an individual s investment objectives, circumstances and needs for investment. Investors should consult a financial adviser. This information was prepared by Limited (ABN ). To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. No Company in the Group guarantees the performance of any Fund or the return of an investor s capital. The offer to invest in the Celeste Fund Management Funds is made in a copy of the current disclosure document for the relevant Fund. Anyone wishing to invest in the Funds will need to complete the application form in the current disclosure document for the relevant Fund. Total returns have been calculated using gross returns. Past performance is not indicative of future performance. 13
14 Appendix A: Portfolio Performance 31 st May 2012 Celeste Australian Small Companies Fund S&P/ASX Small Ords Acc Index Performance 1 month (%) -7.3% -10.2% +2.9% 3 months (%) -2.8% -10.9% +8.1% 6 months(%) +5.5% -2.1% +7.6% 1 Year (%) -4.5% -14.9% +10.4% 2 Year (%pa) +7.5% +0.3% +7.2% 3 Year (% pa) +16.6% +6.2% +10.4% 4 Year (% pa) +5.3% -7.4% +12.7% 5 year (% pa) +0.1% -8.0% +8.1% 7 year (% pa) +8.5% +3.4% +5.1% 10 year (% pa) +12.2% +6.6% +5.6% Inception (% pa) 31 May % +5.5% +11.1% Net returns, including reinvestment of distributions 14
15 Celeste Australian Small Companies Fund Appendix B: Distribution History Total dist. (YE) Cents Per Unit Annual Yield %* June June June June June June June June June June June June June *CPU/unit price at beginning of period. 15
Portfolio construction: The case for small caps. by David Wanis, Senior Portfolio Manager, Smaller Companies
For professional investors only Schroders Portfolio construction: The case for small caps by David Wanis, Senior Portfolio Manager, Smaller Companies Looking solely at passive returns available to investors
More informationInvesting in Australian Small Cap Equities There s a better way
Investing in Australian Small Cap Equities There s a better way Greg Cooper, Chief Executive Officer, Australia November 2017 Executive Summary This paper explores the small cap Australian Shares market,
More informationWAM CAPITAL LTD (WAM) ABN INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT JUNE 2013
WAM CAPITAL LTD (WAM) ABN 34 086 587 395 INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT JUNE 2013 Exercise your options by 31 July 2013 to receive the proposed 6.0c per share fully franked final dividend
More informationWAM CAPITAL LTD (WAM) ABN INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT JULY 2013
WAM CAPITAL LTD (WAM) ABN 34 086 587 395 INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT JULY 2013 Company overview WAM Capital Limited ( WAM or the Company ) is a listed investment company that provides
More information6 March LIC RESEARCH - L1 Long Short Fund Ltd. Recommended. About the manager. Our Opinion. Phone
Phone 1300 980 849 Email research@tradingequities.com.au LIC RESEARCH - L1 Long Short Fund Ltd 6 March 2018 Recommended The L1 Long Short Fund is looking to raise a minimum of $100m (and maximum of $600m)
More informationDNR Capital Australian Equities Socially Responsible Portfolio
DNR Capital Australian Equities Socially Responsible Portfolio 01 April 2019 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared
More informationFor personal use only
27 October 2016 GLENNON SMALL COMPANIES LIMITED (ASX:GC1) ANNUAL GENERAL MEETING 2016 Disclaimer The information provided in this presentation has been prepared by Glennon Capital (ABN 84 137 219 866,
More informationASTUTE SMA PLATFORM. Approved Product List. Dated 22 December 2015
ASTUTE SMA PLATFORM Approved Product List Dated 22 December 2015 This Approved Product List is issued by Praemium Australia Limited (ABN 92 117 611 784, AFSL 297956). The information in this document forms
More informationContango MicroCap Ltd (CTN)
Contango MicroCap Ltd (CTN) Listed Managed Investments June 2013 Quarterly Review WHO IS IIR? Independent Investment Research, IIR, is an independent investment research house based in Australia and the
More informationFor personal use only
ABN 47 107 617 381 Level 27, 35 Collins Street Melbourne VIC 3000 Phone 03 9222 2333 Fax 03 9222 2345 Web www.contangomicrocap.com.au Email contango@contango.com.au Monday, 19 August 2013 Contango MicroCap
More informationSigma Select Equities Portfolio Issue date: 9 May 2017
Sigma Select Equities Portfolio Issue date: 9 May 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by
More informationAB Concentrated Global Growth Equities portfolio
AB Concentrated Global Growth Equities portfolio 8 March 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued
More informationFor personal use only
ACORN CAPITAL INVESTMENT FUND LIMITED JUNE 2017 QUARTER UPDATE ASX : ACQ INNOVATION EFFICIENCY GROWTH DIVERSITY Disclaimer and Important Notices This presentation has been prepared by Acorn Capital Investment
More informationTHE BOUTIQUE ADVANTAGE. By Michael Kretschmann & Nick Hamilton
THE BOUTIQUE ADVANTAGE By Michael Kretschmann & Nick Hamilton The Boutique Advantage a new empirical study of the Australian boutique funds management industry Active management has been receiving much
More informationA-REIT SECTOR UPDATE FOR THE SIX MONTHS TO 31 DECEMBER 2013
A-REIT SECTOR UPDATE FOR THE SIX MONTHS TO 31 DECEMBER 2013 A-REIT SECTOR UPDATE FOR THE SIX MONTHS TO 31 DECEMBER 2013 CONTENTS A-REIT SECTOR UPDATE FOR THE SIX MONTHS TO 31 DECEMBER 2013 1 SECTOR PERFORMANCE
More informationThe Case for Specialist Active Management in
The Case for Specialist Active Management in Smaller Capitalisation Australian Stocks Author: Bruce Robertson Business Development Manager, Celeste Funds Management. Phone: 0434 197 934 The Australian
More informationSGH Emerging Companies Fund Retail
SGH Emerging Companies Fund Retail PRODUCT DISCLOSURE STATEMENT ARSN 095 852 341 APIR ETL0109AU Issue Date 19/09/2016 CONTENTS 1. About Equity Trustees Limited 2. How the SGH Emerging Companies Fund works
More informationSigma Select Equities Portfolio
Sigma Select Equities Portfolio 8 March 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by HUB24 Custodial
More informationOnePath Australian Shares
OnePath Australian Shares Fund overview OnePath Australian Shares gives you access to a diverse portfolio of shares in companies listed on the Australian Securities Exchange (ASX). About the manager UBS
More informationListed Managed Investments
Australian MANAGED INVESTMENTS ANALYSIS Listed Managed Investments March 2009 Quarterly Review EXTRACT Environment for equity markets remain challenging but some positive signs emerge Contents This is
More informationTuesday, 28 October About the CBG Fund 1. CBG Australian Equities Fund Performance
MARKET ANNOUNCEMENT CBG Fund September 2014 Quarterly Report Tuesday, 28 October 2014 The September 2014 Quarterly Report from CBG Asset Management Limited (CBG) on the performance of its CBG Australian
More information1H17 RESULTS INVESTOR UPDATE
For personal use only 9 March 2017 1H17 RESULTS INVESTOR UPDATE SIX MONTHS TO 31 DECEMBER 2016 IMPORTANT NOTE This information was prepared by Perpetual Investment Management Limited (PIML) ABN 18 000
More informationINVESTOR UPDATE OCTOBER 2016
INVESTOR UPDATE OCTOBER 2016 IMPORTANT NOTE This information was prepared by Perpetual Investment Management Limited (PIML) ABN 18 000 866 535, AFSL 234426 and issued by Perpetual Trustee Company Limited
More informationThe Great Muddle Through. Wayne McGauley Head of Retail, IML March 2014
The Great Muddle Through Wayne McGauley Head of Retail, IML March 2014 1 Agenda Intro to IML The Great Muddle Through Investment strategy Portfolio focus for clients Summary 2 Agenda Intro to IML The Great
More informationWelcome to the 2017 Annual General Meeting
1 Welcome to the 2017 Annual General Meeting Summary of financial results for the year ended 30 June 2017 2 2017 2016 change Profit $211.5 million $216.3 million -2.2% Earnings per share 30.7 cents 32.0
More informationIndependent Investment Research
AUSTRALIAN A Independent Investment Research INVESTMENT RESEARCH SPDR S&P/ASX 200 Fund (STW) www. spdrs.com.au Company Overview STW is an exchange traded fund (ETF) that offers investors the ability to
More informationCeleste Australian Small Companies Fund
Celeste Australian Small Companies Fund ARSN 093 539 416 APIR Code: FAM0101AU Product Disclosure Statement Dated 13 December 2017 The Trust Company (RE Services) Limited Responsible Entity ABN 45 003 278
More informationMANAGED ACCOUNT MODEL PORTFOLIO GUIDE. 29 March 2018
MANAGED ACCOUNT MODEL PORTFOLIO GUIDE 29 March 2018 This Managed Account Model Portfolio Guide must not be distributed without a corresponding copy of the Direct Investing Guide of which this document
More informationEthical Investment Mid-Cap Portfolio
Ethical Investment Mid-Cap Portfolio 8 March 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by HUB24
More informationPerennial Value Wealth Defender Australian Shares Trust. Brian Thomas
Perennial Value Wealth Defender Australian Shares Trust Brian Thomas Head of Retail Funds Management Perennial Investment Partners June 2014 Disclaimer Issued by: The Investment Manager, Perennial Investment
More informationMilton Corporation Ltd (MLT)
Milton Corporation Ltd (MLT) Listed Managed Investments June 2017 Quarterly Review WHO IS IIR? Independent Investment Research, IIR, is an independent investment research house based in Australia and the
More informationASX INVESTMENT SECTOR PERFORMANCE REPORT
ASX INVESTMENT SECTOR PERFORMANCE REPORT Investments Report December 2003 An investment sector performance report prepared for the Australian Stock Exchange by Towers Perrin. Fair Comparison of Investment
More informationDAC Wealth Builder: $10,000 Growth from Inception
DAC Wealth Builder: $10,000 Growth from Inception $13,500 $13,416 $13,000 $12,500 $12,000 $11,500 $11,000 $10,500 $10,000 12/2014 03/2015 06/2015 09/2015 12/2015 03/2016 06/2016 09/2016 12/2016 03/2017
More informationDAC Wealth Protector: $10,000 Growth from Inception
DAC Wealth Protector: $10,000 Growth from Inception $11,600 $11,661 $11,400 $11,200 $11,000 $10,800 $10,600 $10,400 $10,200 $10,000 12/2014 03/2015 06/2015 09/2015 12/2015 03/2016 06/2016 09/2016 12/2016
More informationFor personal use only
HUNTER HALL INTERNATIONAL LIMITED ABN 43 059 300 426 25 November 2015 Market Announcements Office ASX Limited Level 5, 20 Bridge Street Sydney NSW 2000 2015 ANNUAL GENERAL MEETING Chairman s Address and
More informationT. Rowe Price Global Equity Fund Currently Recommended
T. Rowe Price Global Equity Fund Currently Recommended 10 May 2013 Fund Facts and Features Fund Details APIR Code ETL0071AU Asset Class Global Equities Style Fundamental Active Growth Fund Size $510m Fee
More informationWAM RESEARCH LIMITED (WAX) ABN INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT MAY 2012
WAM RESEARCH LIMITED (WAX) ABN 15 100 504 541 INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT MAY 2012 WAM Research Limited (WAX) is a listed investment company primarily investing in small to medium sized
More informationNewport Global Tactical Portfolio
Newport Global Tactical Portfolio 8 March 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by HUB24 Custodial
More informationProduct Disclosure Statement (PDS) Pengana Emerging Companies Fund
Product Disclosure Statement (PDS) Pengana Emerging Companies Fund ARSN 111 894 510 APIR PER0270AU Contents: 1. About Pengana Capital Limited 2. How the Pengana Emerging Companies Fund works 3. Benefits
More informationInvestSMART Australian Small Companies Fund
30 September 2018 InvestSMART Australian Small Companies Fund QUARTERLY UPDATE Quarterly Video Update This quarter Alex discusses: The quarter s performance Our strategy for improving performance Why we
More informationLincoln Australian Income Fund ARSN
Lincoln Australian Income Fund ARSN 155 355 301 Maximise your income potential PRODUCT BROCHURE Investment Manager: Lincoln Indicators Pty Ltd (Lincoln) ABN 23 006 715 573, as Corporate Authorised Representative
More informationIndependent Investment Research
AUSTRALIAN A Independent Investment Research INVESTMENT RESEARCH SPDR S&P/ASX 50 Fund (SFY) www.spdrs.com.au Company Overview SFY is an exchange traded fund (ETF) that offers investors the ability to invest
More informationLincoln Australian Income Fund ARSN
Lincoln Australian Income Fund ARSN 155 355 301 Maximise your income potential PRODUCT BROCHURE Investment Manager: Lincoln Indicators Pty Ltd ABN 23 006 715 573, AFSL 237740 Responsible Entity: Equity
More informationSigma Australian Shares Portfolio Issue date: 9 May 2017
Sigma Australian Shares Portfolio Issue date: 9 May 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by
More informationBT Personal Portfolio Service: Superannuation and Pension. Annual Report for the year ended 30 June 2009
BT Personal Portfolio Service: Superannuation and Pension Annual Report for the year ended 30 June 2009 Contents 3 Recent developments and changes 6 Investment overview 9 Understanding the risks of investing
More informationInvesco Wholesale Australian Smaller Companies Fund - Class A Monthly Report
Invesco Wholesale Australian Smaller Companies Fund - Class A Monthly Report 31 May 2018 Performance analysis (periods to 31 May 2018) Fund Managers Andre Roberts Ritchard Longmire CJ Tsai Portfolio Manager
More informationAlpha Australian Blue Chip Fund
Alpha Australian Blue Chip Fund ETL0091au ARSN 124 204 217 Date Issued 01/01/2012 Product disclosure StatEMEnt (Pds) Investment Manager Alpha Fund Managers Pty Ltd. ACN 124 085 883 Phone: (02) 8209 3915
More informationWAM CAPITAL LTD (WAM) ABN INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT NOVEMBER 2012
WAM CAPITAL LTD (WAM) ABN 34 086 587 395 INVESTMENT UPDATE & NET TANGIBLE ASSETS REPORT NOVEMBER 2012 Company overview WAM Capital (WAM) is a listed investment company that provides investors exposure
More informationFor personal use only ACORN CAPITAL INVESTMENT FUND LIMITED MARCH 2017 QUARTER UPDATE ASX : ACQ
ACORN CAPITAL INVESTMENT FUND LIMITED MARCH 2017 QUARTER UPDATE ASX : ACQ 0 DISCLAIMER AND IMPORTANT NOTICES This presentation has been prepared by Acorn Capital Investment Fund Limited ACN 167 595 897
More informationcontact Nick Simpson, Manager, SG Hiscock & Company on (Australia) or
Change to the Investment Objective of SGH20 - Professional Investor Class (ETL0373AU) SG Hiscock & Company Limited (SGH) as the Investment Manager and Equity Trustees Limited as the Responsible Entity
More informationContango MicroCap Ltd (CTN)
Contango MicroCap Ltd (CTN) Listed Managed Investments June 2014 Quarterly Review WHO IS IIR? Independent Investment Research, IIR, is an independent investment research house based in Australia and the
More informationPerpetual Direct Equity Alpha Portfolio
Perpetual Direct Equity Alpha Portfolio 26 July 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by HUB24
More informationIndependent Investment Research
AUSTRALIAN A Independent Investment Research INVESTMENT RESEARCH BKI Investment Company Limited (BKI) www.bkilimited.com.au Company Overview BKI came into existence as a result of the acquisition of the
More informationFor personal use only
PERPETUAL EQUITY INVESTMENT COMPANY LIMITED ACN 601 406 419 2016 ANNUAL GENERAL MEETING ADDRESSES TO SHAREHOLDERS FY16 PIC ANNUAL GENERAL MEETING Chairman's Address Peter Scott The Perpetual Equity Investment
More informationArnhem Australia+ Portfolio
Arnhem Australia+ Portfolio 22 December 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by HUB24 Custodial
More informationIML Wholesale Funds. Product Disclosure Statement Issue Number 6 Dated 01 September Investors Mutual Australian Share Fund
Product Disclosure Statement Issue Number 6 Dated 01 September 2010 IML Wholesale Funds Investors Mutual Australian Share Fund ARSN 093 182 695 APIR IML0002AU Investors Mutual Value & Income Fund ARSN
More informationSchroder Investment Management Australia Bringing it all together Time to Focus on Outcomes
Schroder Investment Management Australia Bringing it all together Time to Focus on Outcomes Greg Cooper, CEO, Schroder Investment Management Australia Ltd November 2011 Schroder Investment Management Australia
More informationOffer for Colonial First State Property Trust Group
Offer for Colonial First State Property Trust Group Mirvac Announces Offer to Acquire All Issued Units in Colonial First State Property Trust Group This Offer Delivers Positive Benefits to the Unitholders
More informationFat Prophets Separately Managed Account
Fat Prophets Separately Managed Account Part A Models and fees Product Disclosure ment Dated: 1 July 2013 Separately Managed Accounts ARSN 114 818 530 Praemium Australia Limited ABN 92 117 611 784 Australian
More information19 November ASX Limited Company Announcements Exchange Centre 20 Bridge Street SYDNEY NSW 2000 BY ELECTRONIC LODGEMENT
19 November 2018 ASX Limited Company Announcements Exchange Centre 20 Bridge Street SYDNEY NSW 2000 BY ELECTRONIC LODGEMENT Chairman s AGM Address and Portfolio Manager s Presentation Attached is a copy
More information9/02/2018. Building a members pension account under a TBC regime
Building a members pension account under a TBC regime Jonathan Snead, Head of Portfolio Strategists, Asia Pacific, SSGA Nigel Stewart, Executive Director, Dimensional David Wanis, Portfolio Manager and
More informationDNR Capital Australian Listed Property Trust Portfolio
DNR Capital Australian Listed Property Trust Portfolio 8 March 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and
More informationReturns To: 1mth 3mths 6mths 1yr 2yrs 3yrs Inception 30 June 2016 (%) (%) (%) (%) (% p.a.) (% p.a.) (% p.a.) T (08) T (08)
Friday, 29 July 2016 MARKET ANNOUNCEMENT CBG Fund June 2016 Quarterly Report The June 2016 Quarterly Report from CBG Asset Management Limited (CBG) on the performance of its CBG Australian Equities Fund
More informationBennelong Concentrated Australian Equities Portfolio Issue date: 27 September 2017
Bennelong Concentrated Australian Equities Portfolio Issue date: 27 September 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has
More informationETFS S&P/ASX 300 High Yield Plus ETF. ASX code: ZYAU
ETFS S&P/ASX 300 High Yield Plus ETF ASX code: ZYAU The intelligent alternative The Exchange Traded Fund that redefines yield The intelligent alternative What is ETFS S&P/ASX 300 High Yield Plus ETF? At
More informationAMP Capital Core Infrastructure Fund
Dated: 21 June 2010 Issued by AMP Capital Investors Limited ABN 59 001 777 591 AFSL 232497 Product Disclosure Statement For investments through a master trust or wrap platform Dated 16 December 2010 Issued
More informationFor personal use only
WAM CAPITAL LIMITED ABN 34 086 587 395 20 January 2011 MEDIA RELEASE PORTFOLIO OUTPERFORMS AND 25% INCREASE IN DIVIDEND WAM CAPITAL LIMITED RESULTS SUMMARY FOR THE HALF YEAR ENDED 31 DECEMBER 2010 Gross
More informationROGER MONTGOMERY. Inside The Montgomery Fund Returns Whitepaper by Scott Phillips, Head of Distribution
ROGER MONTGOMERY Re-inventing the way you invest APRIL 2016 Inside The Montgomery Fund Returns Whitepaper by Scott Phillips, Head of Distribution The Montgomery Fund has produced after-fees returns superior
More informationThe Fund invests exclusively in the Separately Managed Accounts ARSN scheme of which Praemium is the Responsible Entity (the Scheme).
Astute SuperSMA Investment Guide 1 July 2016 This PDS is issued by Diversa Trustees Limited ( the Trustee ) ABN 49 006 421 638 in its capacity as trustee of the Praemium SMA Superannuation Fund (referred
More informationIOOF Presentation. Peter Mahoney. April 2012
IOOF Presentation Peter Mahoney April 2012 1 contents 1. philosophy & process 2. investment team 3. performance 4. stock insight & strategy 5. summary 6. appendices 2 1 proven investment approach the way
More informationThe Future of Capital Markets The Changing Face of Asset Management
The Future of Capital Markets The Changing Face of Asset Management May 2012 Representing Schroders: Greg Cooper Chief Executive Officer Schroder Investment Management Australia Limited ABN 22 000 443
More informationIOOF WealthBuilder Investment menu at a glance. Investment bonds Flexible, accessible and tax-effective. IOOF Ltd ABN AFSL
Investment menu at a glance Investment bonds Flexible, accessible and tax-effective IOOF Ltd ABN 21 087 649 625 AFSL 230522 Investment menu at a glance The enhanced investment menu provides investors with
More informationASX Announcement. AMP Bank shareholder offer. 1 September Announcement No: 46/06
ASX Announcement 1 September 2006 Manager Company Announcements Office Australian Stock Exchange Level 4, 20 Bridge Street Sydney NSW 2000 Manager Market Information Services Section New Zealand Stock
More informationLonsec Managed Portfolio Growth
Lonsec Managed Portfolio Growth 20 March 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by HUB24 Custodial
More informationLonsec Managed Portfolio Balanced Issue date: 26 May 2017
Lonsec Managed Portfolio Balanced Issue date: 26 May 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued
More informationFor personal use only
Annual General Meeting 16 November 2017 Meeting Agenda Welcome Chairman s Presentation Notice of Meeting taken as read Consideration of Reports Questions and Comments Items for Approval Manager s Presentation
More informationThe Company has made significant progress since the beginning of the year with implementing its investment strategy:
MARKET ANNOUNCEMENT Investment Strategy and Company Update Wednesday, 13 July 2011 Bentley Capital Limited (Bentley) (ASX: BEL) is pleased to provide shareholders with the following update on progress
More informationRESEARCHING A COMPANY. Quickstart lesson 2 Includes: Student lessons. Teacher notes & answers
RESEARCHING A COMPANY Quickstart lesson 2 Includes: Student lessons. Teacher notes & answers Quickstart Teacher Notes: RESEARCHING A COMPANY Researching a company Introduction: The aim of this lesson is
More informationWhy Totus Capital? Diversified fundamental stock picking portfolio with emphasis on positive attribution from long book and short book
November 2018 Why Totus Capital? Totus Capital is an independent investment firm managing funds on behalf of high net worth individuals, unitholders of platforms and institutions Totus Capital manages
More informationListed Managed Investments
Australian MANAGED INVESTMENTS ANALYSIS Listed Managed Investments March 2008 Quarterly Review EXTRACT Defensive strategies provide some downside protection in a volatile market Contents This is an extract
More informationFUTURE SAFE PRODUCT DISCLOSURE STATEMENT
FUTURE SAFE PRODUCT DISCLOSURE STATEMENT ISSUED 12 MARCH 2019 7B FUTURE SAFE PRODUCT DISCLOSURE STATEMENT ISSUED 12 MARCH 2019 CONTACT DETAILS 1300 371 136 between 8.30am and 5.30pm (AET), Monday to Friday
More informationZurich Investments Wholesale Funds
Zurich Investments Wholesale Funds Supplementary Product Disclosure Statement Preparation date: 25 July 2011 This document is a Supplementary Product Disclosure Statement (SPDS) for the Zurich Investments
More informationMacquarie Bank Limited
Macquarie Bank Limited ABN 46 008 583 542 AFS Licence 237502 A Member of the Macquarie Group of Companies 1 Martin Place Telephone 1800 080 033 SYDNEY NSW 2000 Facsimile +61 2 8232 4168 GPO Box 4294 Internet
More informationNew S&P/ASX indices measure the returns from franking credits
In 2000, franking credits became fully refundable to low tax Australian investors, helping to supplement the returns for superannuation funds and tax exempt investors. For tax exempt investors such as
More informationNAB Market Select Fund (Australian Equities Class)
NAB Market Select Fund (Australian Equities Class) Fund Information Investment Manager Currency Issue Date Maturity Date Reference Asset Citigroup First Investment Management Australia Limited AUD 1.0994
More informationArnhem Australia+ Portfolio Issue date: 22 December 2017
Arnhem Australia+ Portfolio Issue date: 22 December 2017 About this Managed Portfolio Disclosure Document This Managed Portfolio Disclosure Document (Disclosure Document) has been prepared and issued by
More informationInvestor presentation
Argo Investments Limited Investing in Australia since 1946 Investor presentation May 2014 ABN: 35 007 519 520 Disclaimer Argo Investments Limited has prepared this presentation in good faith. However,
More informationWAM Leaders (ASX: WLE)
WAM Leaders (ASX: WLE) Initial Public Offering presentation April 2016 Disclaimer This presentation has been prepared for use in conjunction with a verbal presentation and should be read in that context.
More informationProduct Disclosure Statement
ARSN 137 843 826 Issue date: 11 December 2017 Contents 1. About Bennelong Funds Management Ltd 1 2. How the Bennelong ex-20 Australian Equities Fund works 3. Benefits of investing in the Bennelong ex-20
More informationZurich Investments Equity Income Fund
Zurich Investments Equity Income Fund APIR ZUR0538AU Product Disclosure Statement (PDS) Issue date 1 July 2015 Strategic investment partner: Denning Pryce Pty Ltd 1. About Zurich Investments Zurich Investment
More informationAMP Capital Global Property Securities Fund
AMP Capital Global Property Securities Fund Dated: 8 September 2010 Issued by AMP Capital Investors Limited ABN 59 001 777 591 AFSL 232497 Product Disclosure Statement For investments through a master
More informationInfocus Managed Accounts. Investment Menu
Managed Accounts Investment Menu Dated 3 April 2018 This Investment Menu is issued by Praemium Australia Limited Separately Managed Accounts ARSN 114 818 530 ABN 92 117 611 784 Australian Financial Services
More informationManaged. Managed Model Profiles Account. Sterling Managed Investments. 3 July 2017
Managed Managed Model Profiles Account 3 July 2017 Sterling Managed Investments Sterling Conservative Model Sterling Balanced Model Sterling Growth Model Sterling Australian Equities Model Netwealth Investments
More informationMicrocaps. Microcap describes the share market. segment of the smallest investable stocks. While exact definitions vary, the representative market
Microcaps Microcap describes the share market segment of the smallest investable stocks. While exact definitions vary, the representative market capitalisation for Australian Microcaps is stocks below
More informationWAM ACTIVE LIMITED (WAA) ABN INVESTMENT UPDATE & NTA SEPTEMBER 2010
WAM ACTIVE LIMITED (WAA) ABN 49 126 420 719 INVESTMENT UPDATE & NTA SEPTEMBER 2010 WAM Active Limited (WAA) listed on the Australian Stock Exchange in January 2008. WAA offers investors exposure to an
More information2018 Half Year Results Six months to 31 March 2018
2018 Half Year Results Six months to 31 March 2018 Emilio Gonzalez CFA, Group Chief Executive Officer Cameron Williamson CA, Group Chief Financial Officer 10 May 2018 Welcome to Pendal Group s Interim
More informationHarbour Investment Funds Statement of Investment Policy & Objectives (SIPO)
Harbour Investment Funds Statement of Investment Policy & Objectives (SIPO) Issued by Harbour Asset Management Limited 19 June 2017 This document replaces the SIPO dated 21 st September 2016 1 HARBOUR
More informationWAM ACTIVE LIMITED (WAA) ABN INVESTMENT UPDATE & NTA FEBRUARY 2011
WAM ACTIVE LIMITED (WAA) ABN 49 126 420 719 INVESTMENT UPDATE & NTA FEBRUARY 2011 WAM Active (WAA) offers investors exposure to an active trading style with the aim of achieving a sound return with a low
More informationConcentrated Income Equities Strategy
Concentrated Income Equities Strategy September 2010 Strategy Overview Objective eqr Securities in conjunction with BT Financial Group equities research provides strategic equities investment support in
More informationZurich Investments Global Small Companies Share Fund
Zurich Investments Global Small Companies Share Fund ARSN 091 604 947 APIR ZUR0240AU Product Disclosure Statement (PDS) This PDS is only for use by investors investing through an IDPS. Contact Issued by
More information