Australian Equities Fund

The Pengana Australian Equities Fund provides exposure to a high conviction portfolio of listed Australian companies.

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Investment strategy

The Pengana Australian Equities Fund aims to enhance and preserve investor wealth over a 5 year period via a concentrated core portfolio of principally Australian listed securities.

The Fund seeks to generate consistent superior investment returns using fundamental analysis to select and own securities with the following characteristics:

  • Good businesses with transparent and resilient business models;
  • Competent management with a track record of integrity; and
  • A favourable relationship between the market price and the future cash flows of the business.

The Fund’s experienced investment team undertakes proprietary research to assess both qualitative and quantitative factors to build a concentrated portfolio of stocks. With a focus on capital preservation, the flexibility of its investment mandate has allowed the Fund to generate positive returns each financial year since inception.

Benefits of investing

Focus on capital preservation. The Fund does not focus on beating the market but instead seeks to preserve capital and generate a fair return of at least 6% above the cash rate.

Sound investment approach. The team looks for good businesses with transparent and resilient business models and competent management at the right price.

Flexibility. The Fund is benchmark unaware and selects companies purely on their investment merits. It may also hold cash, allowing for flexibility and fast decision making if stock prices fall.

Strong track record. The Fund has a strong track record, which has produced positive returns each financial year since inception despite broader market volatility.

  • Performance History
    Fund performance for Australian Equities Fund

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    Performance at October 2018
    1 MTH 1 YEAR 3 YEARS 5 YEARS Since Inception
    Australian Equities Fund -7.99% -2.00% 5.59% 5.77% 9.74%
    RBA Cash Rate Target 0.13% 1.50% 1.61% 1.90% 2.97%
    Outperformance vs. RBA -8.12% -3.50% 3.98% 3.87% 6.77%
     
    Australian Equities Fund -7.99% -2.00% 5.59% 5.77% 9.74%
    ASX All Ordinaries Index (Accum.) -6.47% 3.07% 8.26% 6.19% 5.46%
    Outperformance vs. -1.52% -5.07% -2.68% -0.42% 4.28%

    Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.

    Inception date: 1 July 2008.

    The equally weighted portfolio is calculated by compounding the equally weighted monthly returns of the Pengana funds that were open during each month.  The calculation includes the following funds: Pengana Emerging Companies Fund, Pengana Australian Equities Fund, Pengana Absolute Return Asia Pacific Fund, Pengana Global Small Companies Fund, Pengana International Equities Fund, Pengana International Equities Managed Risk Fund, Pengana PanAgora Absolute Return Global Equities Fund.  Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.

  • Fund Facts
    Minimum investment

    $20,000

    Recommended timeframe

    Five or more years

    Inception date

    30 June 2008

    Benchmark

    RBA Cash Rate

    Management fee (incl GST)

    1.025% p.a. of the Fund’s net asset value, plus a capped expense recovery amount of 0.1% p.a. of the Fund’s net asset value.

    Performance fee

    10.25% (including GST, net of RITC) of increase in net asset value subject to the Australian cash rate and high water mark.

    Buy/sell spread

    0.25% on both applications and redemptions

    Entry/ exit fees

    Nil

    Fund pricing

    Daily

    Distribution frequency

    Twice yearly (June and December)

    Typical number of stocks

    20-50

    APIR code

    PCL0005AU

    Platform availability
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  • Unit Prices
    Unit Prices History Table
    Date Application Redemption Distributions
    12 Nov 2018 1.8488 1.8396 -
    09 Nov 2018 1.8419 1.8327 -
    08 Nov 2018 1.8345 1.8253 -
    07 Nov 2018 1.8157 1.8067 -
    06 Nov 2018 1.8018 1.7928 -
    05 Nov 2018 1.7993 1.7904 -
    02 Nov 2018 1.8149 1.8058 -
    01 Nov 2018 1.8216 1.8125 -
    31 Oct 2018 1.8175 1.8084 -
    30 Oct 2018 1.8101 1.8011 -
    29 Oct 2018 1.7982 1.7893 -
    26 Oct 2018 1.7914 1.7825 -
    25 Oct 2018 1.7882 1.7793 -
    24 Oct 2018 1.8319 1.8228 -

    Download Unit Prices

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  • Investment Team
    Rhett Kessler
    Rhett Kessler

    Senior Fund Manager

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    Anton Du Preez
    Anton du Preez

    Fund Manager

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    Mark Christensen Website2
    Mark Christensen

    Investment Analyst

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    Chris Tan
    Chris Tan

    Investment Analyst

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    Jonathan Rabinovitz in shape 2 180px 72ppi
    Jonathan Rabinovitz

    Investment Analyst

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  • Investor Notifications
    Complaints resolution process for retail clients who invest through Platforms Download
    Attribution Managed Investment Trust regime changes - 4 December 2017 Download
  • Reports and Resources

    Australian Equities Fund

     

  • Ratings and Awards
    Ratings
    Lonsec Recommended* Click to View
    Morningstar Refer to research house
    Zenith Recommended** Click to View
    Mercer Refer to research house

    This report may only be accessed by holders of Australian Financial Services Licences and their authorised representatives.

    *The Lonsec Rating (assigned September 2018) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to "General Advice" (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Pengana Capital product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

    For further information regarding Lonsec's Ratings methodology, please refer to our website at: http://www.beyond.lonsec.com.au/intelligence/lonsec-ratings.

    **The Zenith Investment Partners ("Zenith") Australian Financial Services License No. 226872 rating (assigned June 2018) referred to in this document is limited to "General Advice" (as defined by the 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. 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. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines.

    Awards

    Nomination_Money Management_Lonsec Fund Manager of the Year 2013 (Retirement Income Innovation)