International Equities Fund

The Pengana International Equities Fund aims to provide exposure to a diversified portfolio of highly cash-generative and growing global companies purchased at compelling valuations.

Investment strategy

The Pengana International Equities Fund invests in a portfolio of global companies, diversified across geographies, industries and company sizes.

Launched in 2015, the Fund is long-only, benchmark independent and typically holds 30-50 companies. The mandate allows investment across geographies, industries and company sizes. The companies considered for inclusion in the portfolio demonstrate large and growing free cash flow generation, and are priced attractively relative to their cash flow.

The portfolio is created from the 30-50 stock ideas that work best together, rather than just the 30-50 best ideas.

The investment team develops an understanding of the opportunities using detailed research covering financial statements, company meetings and external research. Companies that meet the investment criteria are divided into three segments:

Core (60-80%): are stable and growing businesses that generate consistent returns.

Cyclical (0-30%): businesses operating in cyclical industries that are posed for a cyclical upturn, which is not recognised in the share price.

Opportunistic (0-20%): are unique, company specific situations that offer attractive potential upside.

Benefits of investing

Skilled investment team. The investment team has over 90 years of combined experience investing in global equities and has developed a successful and repeatable investment process.

A truly active fund. A relatively concentrated portfolio that is selected purely on investment merits rather than index weight.

Investment in high quality businesses at compelling valuations. The Fund aims to invest in businesses with compelling business models, that consistently generate large and growing sums of cash.

Focus on risk and return. The portfolio focuses on 30-50 stocks that work together, with sufficient concentration to deliver returns and sufficient diversification to reduce risk.

Investment approach that is suitable across market environments. The investment team invests across different geographies, industries and company sizes and can adjust to changing market environments.

  • Performance History
    Fund performance for International Equities Fund

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    Investment Period to
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    Performance at November 2017
    1 MTH 1 YEAR 3 YEARS 5 YEARS Since Inception
    International Equities Fund 1.77% 24.98% - - 10.30%
    MSCI All Country World Total Return Index in AUD 2.96% 21.31% - - 10.29%
    Outperformance vs. MSCI -1.18% 3.68% - - 0.01%

    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 2015.

    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:

    $25,000

    Recommended timeframe:

    3 years or more

    Inception date:

    1 July 2015

    Benchmark:

    MSCI All Country World Total Return Index (net) in $A

    Management fee (incl GST):

    1.23% of the Class’ net asset value, plus a capped expense recovery amount of 0.104% of the Class’ net asset value.

    Buy/sell spread:

    0.30% on both applications and redemptions

    Entry/ exit fees:

    Nil

    Fund pricing:

    Daily

    Distribution frequency:

    Annually in June

    Typical number of stocks:

    30-50

    APIR code:

    PCL0026AU

    Platform availability
    • Mason Stevens
    • Netwealth
  • Unit Prices
    Unit Prices History Table
    Date Application Redemption Distributions
    08 Dec 2017 1.2584 1.2508 -
    07 Dec 2017 1.2519 1.2444 -
    06 Dec 2017 1.2368 1.2294 -
    05 Dec 2017 1.2347 1.2273 -
    04 Dec 2017 1.2408 1.2333 -
    01 Dec 2017 1.2383 1.2309 -
    30 Nov 2017 1.2441 1.2367 -
    29 Nov 2017 1.2436 1.2361 -
    28 Nov 2017 1.2442 1.2367 -
    27 Nov 2017 1.2369 1.2295 -
    24 Nov 2017 1.2417 1.2343 -
    23 Nov 2017 1.2358 1.2284 -
    22 Nov 2017 1.2371 1.2297 -
    21 Nov 2017 1.2371 1.2297 -
    20 Nov 2017 1.2339 1.2266 -
    17 Nov 2017 1.2334 1.2260 -
    16 Nov 2017 1.2243 1.2170 -
    15 Nov 2017 1.2169 1.2096 -
    14 Nov 2017 1.2149 1.2077 -
    13 Nov 2017 1.2121 1.2049 -
    10 Nov 2017 1.2101 1.2029 -
    09 Nov 2017 1.2132 1.2059 -
    08 Nov 2017 1.2180 1.2107 -
    07 Nov 2017 1.2199 1.2126 -
    06 Nov 2017 1.2205 1.2132 -
    03 Nov 2017 1.2244 1.2171 -
    02 Nov 2017 1.2145 1.2072 -
    01 Nov 2017 1.2181 1.2108 -
    31 Oct 2017 1.2225 1.2152 -
    30 Oct 2017 1.2165 1.2092 -
    27 Oct 2017 1.2169 1.2096 -
    26 Oct 2017 1.2163 1.2091 -
    25 Oct 2017 1.2170 1.2098 -
    24 Oct 2017 1.2083 1.2011 -
    23 Oct 2017 1.2022 1.1950 -
    20 Oct 2017 1.2032 1.1960 -
    19 Oct 2017 1.2010 1.1938 -
    18 Oct 2017 1.2101 1.2029 -
    17 Oct 2017 1.2066 1.1994 -
    16 Oct 2017 1.2057 1.1985 -
    13 Oct 2017 1.2046 1.1974 -
    12 Oct 2017 1.2112 1.2040 -
    11 Oct 2017 1.2187 1.2114 -
    10 Oct 2017 1.2117 1.2044 -
    09 Oct 2017 1.2072 1.2000 -
    06 Oct 2017 1.2115 1.2043 -
    05 Oct 2017 1.2082 1.2010 -
    04 Oct 2017 1.2035 1.1963 -
    03 Oct 2017 1.2098 1.2026 -
    29 Sep 2017 1.1965 1.1894 -
    28 Sep 2017 1.1917 1.1845 -
    27 Sep 2017 1.1847 1.1776 -
    26 Sep 2017 1.1792 1.1721 -
    25 Sep 2017 1.1753 1.1682 -
    22 Sep 2017 1.1784 1.1714 -
    21 Sep 2017 1.1751 1.1681 -
    20 Sep 2017 1.1641 1.1572 -
    19 Sep 2017 1.1715 1.1645 -
    18 Sep 2017 1.1755 1.1685 -
    15 Sep 2017 1.1691 1.1621 -
    14 Sep 2017 1.1711 1.1641 -
    13 Sep 2017 1.1721 1.1651 -
    12 Sep 2017 1.1697 1.1627 -
    11 Sep 2017 1.1678 1.1608 -
    08 Sep 2017 1.1583 1.1513 -
    07 Sep 2017 1.1633 1.1563 -
    06 Sep 2017 1.1631 1.1561 -
    05 Sep 2017 1.1565 1.1496 -
    04 Sep 2017 1.1651 1.1582 -
    01 Sep 2017 1.1639 1.1569 -
    31 Aug 2017 1.1644 1.1575 -
    30 Aug 2017 1.1585 1.1516 -
    29 Aug 2017 1.1464 1.1395 -
    28 Aug 2017 1.1501 1.1432 -
    25 Aug 2017 1.1500 1.1431 -
    24 Aug 2017 1.1534 1.1465 -
    23 Aug 2017 1.1556 1.1486 -
    22 Aug 2017 1.1525 1.1456 -
    21 Aug 2017 1.1451 1.1382 -
    18 Aug 2017 1.1449 1.1381 -
    17 Aug 2017 1.1477 1.1408 -
    16 Aug 2017 1.1569 1.1499 -
    15 Aug 2017 1.1614 1.1544 -
    14 Aug 2017 1.1614 1.1544 -
    11 Aug 2017 1.1519 1.1450 -
    10 Aug 2017 1.1495 1.1426 -
    09 Aug 2017 1.1655 1.1585 -
    08 Aug 2017 1.1608 1.1538 -
    04 Aug 2017 1.1568 1.1498 -
    03 Aug 2017 1.1572 1.1502 -
    02 Aug 2017 1.1519 1.1450 -
    01 Aug 2017 1.1490 1.1421 -
    31 Jul 2017 1.1452 1.1384 -
    28 Jul 2017 1.1404 1.1336 -
    27 Jul 2017 1.1428 1.1360 -
    26 Jul 2017 1.1524 1.1455 -
    25 Jul 2017 1.1515 1.1446 -
    24 Jul 2017 1.1451 1.1382 -
    21 Jul 2017 1.1475 1.1406 -
    20 Jul 2017 1.1476 1.1408 -
    19 Jul 2017 1.1491 1.1423 -
    18 Jul 2017 1.1483 1.1414 -
    17 Jul 2017 1.1598 1.1528 -
    14 Jul 2017 1.1564 1.1495 -
    13 Jul 2017 1.1639 1.1569 -
    12 Jul 2017 1.1676 1.1606 -
    11 Jul 2017 1.1648 1.1578 -
    10 Jul 2017 1.1664 1.1594 -
    07 Jul 2017 1.1624 1.1555 -
    06 Jul 2017 1.1638 1.1569 -
    05 Jul 2017 1.1672 1.1602 -
    04 Jul 2017 1.1618 1.1549 -
    03 Jul 2017 1.1598 1.1528 -
    30 Jun 2017 1.1805 1.1734 0.0251
    29 Jun 2017 1.1790 1.1719 -
    28 Jun 2017 1.1993 1.1921 -
    27 Jun 2017 1.1932 1.1860 -
    26 Jun 2017 1.1984 1.1913 -
    23 Jun 2017 1.1989 1.1917 -
    22 Jun 2017 1.1994 1.1922 -
    21 Jun 2017 1.1942 1.1870 -
    20 Jun 2017 1.1863 1.1792 -
    19 Jun 2017 1.1945 1.1873 -
    16 Jun 2017 1.1791 1.1720 -
    15 Jun 2017 1.1829 1.1758 -
    14 Jun 2017 1.1919 1.1848 -
    13 Jun 2017 1.2010 1.1938 -
    09 Jun 2017 1.2022 1.1950 -
    08 Jun 2017 1.2090 1.2018 -
    07 Jun 2017 1.2095 1.2023 -
    06 Jun 2017 1.2139 1.2066 -
    05 Jun 2017 1.2220 1.2146 -
    02 Jun 2017 1.2310 1.2236 -
    01 Jun 2017 1.2294 1.2220 -
    31 May 2017 1.2143 1.2070 -
    30 May 2017 1.2083 1.2011 -
    29 May 2017 1.2100 1.2027 -
    26 May 2017 1.2093 1.2021 -
    25 May 2017 1.2035 1.1963 -
    24 May 2017 1.2023 1.1951 -
    23 May 2017 1.1970 1.1898 -
    22 May 2017 1.1953 1.1882 -
    19 May 2017 1.1956 1.1885 -
    18 May 2017 1.1854 1.1784 -
    17 May 2017 1.1934 1.1863 -
    16 May 2017 1.2048 1.1976 -
    15 May 2017 1.2005 1.1933 -
    12 May 2017 1.1970 1.1899 -
    11 May 2017 1.1953 1.1881 -
    10 May 2017 1.1926 1.1854 -
    09 May 2017 1.1953 1.1882 -
    08 May 2017 1.1932 1.1861 -
    05 May 2017 1.1949 1.1877 -
    04 May 2017 1.1864 1.1793 -
    03 May 2017 1.1695 1.1625 -
    02 May 2017 1.1602 1.1532 -
    01 May 2017 1.1458 1.1389 -
    28 Apr 2017 1.1522 1.1453 -
    27 Apr 2017 1.1563 1.1494 -
    26 Apr 2017 1.1493 1.1424 -
    24 Apr 2017 1.1263 1.1196 -
    21 Apr 2017 1.1096 1.1030 -
    20 Apr 2017 1.1115 1.1048 -
    19 Apr 2017 1.1105 1.1039 -
    18 Apr 2017 1.1044 1.0977 -
    13 Apr 2017 1.0960 1.0895 -
    12 Apr 2017 1.1108 1.1041 -
    11 Apr 2017 1.1137 1.1070 -
    10 Apr 2017 1.1112 1.1046 -
    07 Apr 2017 1.1102 1.1036 -
    06 Apr 2017 1.1045 1.0979 -
    05 Apr 2017 1.0990 1.0924 -
    04 Apr 2017 1.1024 1.0958 -
    03 Apr 2017 1.0925 1.0859 -
    31 Mar 2017 1.0897 1.0832 -
    30 Mar 2017 1.0854 1.0790 -
    29 Mar 2017 1.0848 1.0783 -
    28 Mar 2017 1.0895 1.0830 -
    27 Mar 2017 1.0895 1.0830 -
    24 Mar 2017 1.0866 1.0801 -
    23 Mar 2017 1.0830 1.0766 -
    22 Mar 2017 1.0774 1.0709 -
    21 Mar 2017 1.0716 1.0652 -
    20 Mar 2017 1.0772 1.0708 -
    17 Mar 2017 1.0819 1.0754 -
    16 Mar 2017 1.0812 1.0748 -
    15 Mar 2017 1.0841 1.0776 -
    14 Mar 2017 1.0809 1.0745 -
    13 Mar 2017 1.0832 1.0768 -
    10 Mar 2017 1.0838 1.0773 -
    09 Mar 2017 1.0836 1.0772 -
    08 Mar 2017 1.0750 1.0685 -
    07 Mar 2017 1.0707 1.0643 -
    06 Mar 2017 1.0750 1.0686 -
    03 Mar 2017 1.0813 1.0748 -
    02 Mar 2017 1.0790 1.0726 -
    01 Mar 2017 1.0778 1.0713 -
    28 Feb 2017 1.0676 1.0612 -
    27 Feb 2017 1.0675 1.0611 -
    24 Feb 2017 1.0669 1.0605 -
    23 Feb 2017 1.0664 1.0600 -
    22 Feb 2017 1.0731 1.0667 -
    21 Feb 2017 1.0743 1.0679 -
    20 Feb 2017 1.0693 1.0629 -
    17 Feb 2017 1.0716 1.0652 -
    16 Feb 2017 1.0678 1.0614 -
    15 Feb 2017 1.0668 1.0604 -
    14 Feb 2017 1.0697 1.0633 -
    13 Feb 2017 1.0695 1.0631 -
    10 Feb 2017 1.0626 1.0563 -
    09 Feb 2017 1.0674 1.0611 -
    08 Feb 2017 1.0640 1.0576 -
    07 Feb 2017 1.0644 1.0581 -
    06 Feb 2017 1.0600 1.0537 -
    03 Feb 2017 1.0597 1.0533 -
    02 Feb 2017 1.0562 1.0499 -
    01 Feb 2017 1.0680 1.0616 -
    31 Jan 2017 1.0621 1.0558 -
    30 Jan 2017 1.0623 1.0559 -
    27 Jan 2017 1.0703 1.0639 -
    25 Jan 2017 1.0720 1.0656 -
    24 Jan 2017 1.0643 1.0580 -
    23 Jan 2017 1.0594 1.0531 -
    20 Jan 2017 1.0594 1.0530 -
    19 Jan 2017 1.0553 1.0490 -
    18 Jan 2017 1.0545 1.0482 -
    17 Jan 2017 1.0555 1.0492 -
    16 Jan 2017 1.0633 1.0570 -
    13 Jan 2017 1.0634 1.0570 -
    12 Jan 2017 1.0595 1.0532 -
    11 Jan 2017 1.0709 1.0645 -
    10 Jan 2017 1.0713 1.0649 -
    09 Jan 2017 1.0714 1.0650 -
    06 Jan 2017 1.0742 1.0678 -
    05 Jan 2017 1.0715 1.0651 -
    04 Jan 2017 1.0717 1.0653 -
    03 Jan 2017 1.0706 1.0642 -
    30 Dec 2016 1.0615 1.0552 -
    29 Dec 2016 1.0662 1.0598 -
    28 Dec 2016 1.0657 1.0593 -
    23 Dec 2016 1.0672 1.0608 -
    22 Dec 2016 1.0578 1.0515 -
    21 Dec 2016 1.0550 1.0487 -
    20 Dec 2016 1.0559 1.0496 -
    19 Dec 2016 1.0506 1.0443 -
    16 Dec 2016 1.0469 1.0407 -
    15 Dec 2016 1.0430 1.0367 -
    14 Dec 2016 1.0284 1.0223 -
    13 Dec 2016 1.0346 1.0285 -
    12 Dec 2016 1.0272 1.0211 -
    09 Dec 2016 1.0336 1.0274 -
    08 Dec 2016 1.0299 1.0237 -
    07 Dec 2016 1.0213 1.0152 -
    06 Dec 2016 1.0156 1.0095 -
    05 Dec 2016 1.0067 1.0007 -
    02 Dec 2016 1.0004 0.9944 -
    01 Dec 2016 1.0065 1.0005 -
    30 Nov 2016 1.0172 1.0111 -
    29 Nov 2016 1.0102 1.0041 -
    28 Nov 2016 1.0077 1.0017 -
    25 Nov 2016 1.0205 1.0144 -
    24 Nov 2016 1.0188 1.0127 -
    23 Nov 2016 1.0186 1.0125 -
    22 Nov 2016 1.0219 1.0158 -
    21 Nov 2016 1.0269 1.0208 -
    18 Nov 2016 1.0250 1.0188 -
    17 Nov 2016 1.0158 1.0098 -
    16 Nov 2016 1.0135 1.0074 -
    15 Nov 2016 1.0028 0.9968 -
    14 Nov 2016 1.0003 0.9943 -
    11 Nov 2016 1.0055 0.9995 -
    10 Nov 2016 1.0112 1.0052 -
    09 Nov 2016 1.0065 1.0004 -
    08 Nov 2016 0.9915 0.9856 -
    07 Nov 2016 0.9904 0.9845 -
    04 Nov 2016 0.9851 0.9792 -
    03 Nov 2016 0.9852 0.9793 -
    02 Nov 2016 0.9877 0.9818 -
    01 Nov 2016 0.9934 0.9875 -
    31 Oct 2016 0.9976 0.9916 -
    28 Oct 2016 0.9994 0.9934 -
    27 Oct 2016 0.9957 0.9898 -
    26 Oct 2016 0.9916 0.9856 -
    25 Oct 2016 0.9959 0.9899 -
    24 Oct 2016 1.0024 0.9964 -
    21 Oct 2016 1.0039 0.9979 -
    20 Oct 2016 1.0022 0.9962 -
    19 Oct 2016 0.9992 0.9932 -
    18 Oct 2016 1.0013 0.9953 -
    17 Oct 2016 0.9991 0.9931 -
    14 Oct 2016 1.0019 0.9959 -
    13 Oct 2016 1.0072 1.0012 -
    12 Oct 2016 1.0078 1.0018 -
    11 Oct 2016 1.0118 1.0057 -
    10 Oct 2016 1.0167 1.0106 -
    07 Oct 2016 1.0152 1.0091 -
    06 Oct 2016 1.0234 1.0173 -
    05 Oct 2016 1.0234 1.0173 -
    04 Oct 2016 1.0181 1.0120 -
    30 Sep 2016 1.0203 1.0142 -
    29 Sep 2016 1.0145 1.0084 -
    28 Sep 2016 1.0203 1.0142 -
    27 Sep 2016 1.0181 1.0120 -
    26 Sep 2016 1.0203 1.0142 -
    23 Sep 2016 1.0295 1.0233 -
    22 Sep 2016 1.0354 1.0292 -
    21 Sep 2016 1.0329 1.0267 -
    20 Sep 2016 1.0309 1.0248 -
    19 Sep 2016 1.0301 1.0239 -
    16 Sep 2016 1.0350 1.0288 -
    15 Sep 2016 1.0395 1.0332 -
    14 Sep 2016 1.0343 1.0281 -
    13 Sep 2016 1.0312 1.0250 -
    12 Sep 2016 1.0327 1.0265 -
    09 Sep 2016 1.0221 1.0160 -
    08 Sep 2016 1.0254 1.0193 -
    07 Sep 2016 1.0329 1.0267 -
    06 Sep 2016 1.0337 1.0276 -
    05 Sep 2016 1.0413 1.0351 -
    02 Sep 2016 1.0446 1.0384 -
    01 Sep 2016 1.0362 1.0300 -
    31 Aug 2016 1.0382 1.0319 -
    30 Aug 2016 1.0427 1.0365 -
    29 Aug 2016 1.0280 1.0219 -
    26 Aug 2016 1.0208 1.0147 -
    25 Aug 2016 1.0234 1.0173 -
    24 Aug 2016 1.0261 1.0200 -
    23 Aug 2016 1.0289 1.0228 -
    22 Aug 2016 1.0268 1.0207 -
    19 Aug 2016 1.0272 1.0211 -
    18 Aug 2016 1.0229 1.0167 -
    17 Aug 2016 1.0234 1.0173 -
    16 Aug 2016 1.0219 1.0158 -
    15 Aug 2016 1.0251 1.0190 -
    12 Aug 2016 1.0232 1.0171 -
    11 Aug 2016 1.0216 1.0155 -
    10 Aug 2016 1.0186 1.0125 -
    09 Aug 2016 1.0222 1.0161 -
    08 Aug 2016 1.0231 1.0170 -
    05 Aug 2016 1.0324 1.0262 -
    04 Aug 2016 1.0272 1.0210 -
    03 Aug 2016 1.0323 1.0261 -
    02 Aug 2016 1.0289 1.0227 -
    29 Jul 2016 1.0358 1.0296 -
    28 Jul 2016 1.0432 1.0370 -
    27 Jul 2016 1.0466 1.0403 -
    26 Jul 2016 1.0378 1.0316 -
    25 Jul 2016 1.0473 1.0411 -
    22 Jul 2016 1.0479 1.0416 -
    21 Jul 2016 1.0421 1.0358 -
    20 Jul 2016 1.0439 1.0377 -
    19 Jul 2016 1.0382 1.0320 -
    18 Jul 2016 1.0319 1.0257 -
    15 Jul 2016 1.0296 1.0234 -
    14 Jul 2016 1.0262 1.0201 -
    13 Jul 2016 1.0229 1.0167 -
    12 Jul 2016 1.0224 1.0163 -
    11 Jul 2016 1.0282 1.0220 -
    08 Jul 2016 1.0222 1.0161 -
    07 Jul 2016 1.0191 1.0130 -
    06 Jul 2016 1.0158 1.0097 -
    05 Jul 2016 1.0176 1.0115 -
    04 Jul 2016 1.0146 1.0085 -
    01 Jul 2016 1.0217 1.0156 -
    30 Jun 2016 1.0191 1.0130 -
    29 Jun 2016 1.0104 1.0043 -
    28 Jun 2016 1.0030 0.9970 -
    27 Jun 2016 0.9939 0.9879 -
    24 Jun 2016 1.0005 0.9946 -
    23 Jun 2016 1.0322 1.0260 -
    22 Jun 2016 1.0279 1.0218 -
    21 Jun 2016 1.0313 1.0251 -
    20 Jun 2016 1.0293 1.0232 -
    17 Jun 2016 1.0235 1.0173 -
    16 Jun 2016 1.0285 1.0224 -
    15 Jun 2016 1.0230 1.0169 -
    14 Jun 2016 1.0271 1.0210 -
    10 Jun 2016 1.0378 1.0316 -
    09 Jun 2016 1.0461 1.0399 -
    08 Jun 2016 1.0526 1.0463 -
    07 Jun 2016 1.0520 1.0457 -
    06 Jun 2016 1.0571 1.0508 -
    03 Jun 2016 1.0568 1.0505 -
    02 Jun 2016 1.0657 1.0593 -
    01 Jun 2016 1.0639 1.0576 -
    31 May 2016 1.0633 1.0570 -
    30 May 2016 1.0719 1.0655 -
    27 May 2016 1.0703 1.0639 -
    26 May 2016 1.0672 1.0608 -
    25 May 2016 1.0695 1.0631 -
    24 May 2016 1.0674 1.0610 -
    23 May 2016 1.0551 1.0488 -
    20 May 2016 1.0551 1.0488 -
    19 May 2016 1.0478 1.0415 -
    18 May 2016 1.0481 1.0418 -
    17 May 2016 1.0407 1.0345 -
    16 May 2016 1.0491 1.0429 -
    13 May 2016 1.0473 1.0410 -
    12 May 2016 1.0413 1.0351 -
    11 May 2016 1.0390 1.0328 -
    10 May 2016 1.0441 1.0379 -
    09 May 2016 1.0447 1.0384 -
    06 May 2016 1.0375 1.0312 -
    05 May 2016 1.0223 1.0162 -
    04 May 2016 1.0228 1.0167 -
    03 May 2016 1.0266 1.0204 -
    02 May 2016 1.0201 1.0140 -
    29 Apr 2016 1.0150 1.0089 -
    28 Apr 2016 1.0213 1.0152 -
    27 Apr 2016 1.0282 1.0220 -
    26 Apr 2016 1.0120 1.0059 -
    22 Apr 2016 1.0212 1.0151 -
    21 Apr 2016 1.0222 1.0161 -
    20 Apr 2016 1.0199 1.0138 -
    19 Apr 2016 1.0200 1.0139 -
    18 Apr 2016 1.0248 1.0187 -
    15 Apr 2016 1.0269 1.0207 -
    14 Apr 2016 1.0267 1.0205 -
    13 Apr 2016 1.0344 1.0282 -
    12 Apr 2016 1.0256 1.0195 -
    11 Apr 2016 1.0227 1.0166 -
    08 Apr 2016 1.0243 1.0182 -
    07 Apr 2016 1.0275 1.0214 -
    06 Apr 2016 1.0325 1.0264 -
    05 Apr 2016 1.0246 1.0184 -
    04 Apr 2016 1.0218 1.0157 -
    01 Apr 2016 1.0195 1.0134 -
    31 Mar 2016 1.0109 1.0049 -
    30 Mar 2016 1.0098 1.0038 -
    29 Mar 2016 1.0113 1.0052 -
    24 Mar 2016 1.0078 1.0017 -
    23 Mar 2016 1.0088 1.0028 -
    22 Mar 2016 1.0049 0.9989 -
    21 Mar 2016 1.0099 1.0039 -
    18 Mar 2016 1.0052 0.9992 -
    17 Mar 2016 0.9992 0.9933 -
    16 Mar 2016 1.0174 1.0113 -
    15 Mar 2016 1.0092 1.0032 -
    14 Mar 2016 1.0032 0.9972 -
    11 Mar 2016 0.9935 0.9876 -
    10 Mar 2016 0.9918 0.9859 -
    09 Mar 2016 0.9863 0.9804 -
    08 Mar 2016 0.9945 0.9885 -
    07 Mar 2016 0.9999 0.9939 -
    04 Mar 2016 1.0107 1.0047 -
    03 Mar 2016 1.0103 1.0042 -
    02 Mar 2016 1.0198 1.0137 -
    01 Mar 2016 1.0364 1.0302 -
    29 Feb 2016 1.0206 1.0145 -
    26 Feb 2016 1.0227 1.0166 -
    25 Feb 2016 1.0182 1.0122 -
    24 Feb 2016 1.0123 1.0063 -
    23 Feb 2016 1.0105 1.0044 -
    22 Feb 2016 1.0189 1.0128 -
    19 Feb 2016 1.0318 1.0256 -
    18 Feb 2016 1.0223 1.0162 -
    17 Feb 2016 1.0263 1.0202 -
    16 Feb 2016 1.0223 1.0161 -
    15 Feb 2016 1.0039 0.9979 -
    12 Feb 2016 1.0049 0.9998 -
    11 Feb 2016 0.9917 0.9868 -
    10 Feb 2016 0.9958 0.9908 -
    09 Feb 2016 0.9960 0.9910 -
    08 Feb 2016 0.9953 0.9903 -
    05 Feb 2016 1.0114 1.0064 -
    04 Feb 2016 1.0048 0.9998 -
    03 Feb 2016 1.0203 1.0152 -
    02 Feb 2016 1.0219 1.0168 -
    01 Feb 2016 1.0298 1.0247 -
    29 Jan 2016 1.0259 1.0208 -
    28 Jan 2016 1.0064 1.0013 -
    27 Jan 2016 1.0155 1.0105 -
    25 Jan 2016 1.0246 1.0195 -
    22 Jan 2016 1.0258 1.0207 -
    21 Jan 2016 1.0138 1.0087 -
    20 Jan 2016 1.0255 1.0203 -
    19 Jan 2016 1.0276 1.0225 -
    18 Jan 2016 1.0290 1.0238 -
    15 Jan 2016 1.0312 1.0260 -
    14 Jan 2016 1.0392 1.0341 -
    13 Jan 2016 1.0306 1.0255 -
    12 Jan 2016 1.0487 1.0435 -
    11 Jan 2016 1.0330 1.0279 -
    08 Jan 2016 1.0403 1.0351 -
    07 Jan 2016 1.0417 1.0365 -
    06 Jan 2016 1.0568 1.0515 -
    05 Jan 2016 1.0540 1.0487 -
    04 Jan 2016 1.0506 1.0453 -
    31 Dec 2015 1.0581 1.0528 -
    30 Dec 2015 1.0653 1.0599 -
    29 Dec 2015 1.0722 1.0669 -
    24 Dec 2015 1.0668 1.0615 -
    23 Dec 2015 1.0706 1.0652 -
    22 Dec 2015 1.0586 1.0533 -
    21 Dec 2015 1.0593 1.0540 -
    18 Dec 2015 1.0568 1.0516 -
    17 Dec 2015 1.0799 1.0745 -
    16 Dec 2015 1.0804 1.0751 -
    15 Dec 2015 1.0728 1.0674 -
    14 Dec 2015 1.0500 1.0448 -
    11 Dec 2015 1.0573 1.0521 -
    10 Dec 2015 1.0638 1.0585 -
    09 Dec 2015 1.0739 1.0685 -
    08 Dec 2015 1.0838 1.0784 -
    07 Dec 2015 1.0845 1.0791 -
    04 Dec 2015 1.0752 1.0698 -
    03 Dec 2015 1.0689 1.0635 -
    02 Dec 2015 1.0787 1.0733 -
    01 Dec 2015 1.0848 1.0793 -
    30 Nov 2015 1.0856 1.0802 -
    27 Nov 2015 1.0982 1.0927 -
    26 Nov 2015 1.0934 1.0879 -
    25 Nov 2015 1.0911 1.0856 -
    24 Nov 2015 1.0852 1.0798 -
    23 Nov 2015 1.0936 1.0882 -
    20 Nov 2015 1.0930 1.0875 -
    19 Nov 2015 1.0938 1.0883 -
    18 Nov 2015 1.1100 1.1044 -
    17 Nov 2015 1.0956 1.0901 -
    16 Nov 2015 1.0938 1.0884 -
    13 Nov 2015 1.0794 1.0741 -
    12 Nov 2015 1.0928 1.0873 -
    11 Nov 2015 1.1129 1.1074 -
    10 Nov 2015 1.1125 1.1069 -
    09 Nov 2015 1.1097 1.1042 -
    06 Nov 2015 1.1209 1.1153 -
    05 Nov 2015 1.1073 1.1017 -
    04 Nov 2015 1.1081 1.1026 -
    03 Nov 2015 1.1072 1.1017 -
    02 Nov 2015 1.1098 1.1042 -
    30 Oct 2015 1.1008 1.0953 -
    29 Oct 2015 1.1089 1.1033 -
    28 Oct 2015 1.1014 1.0959 -
    27 Oct 2015 1.0765 1.0711 -
    26 Oct 2015 1.0738 1.0684 -
    23 Oct 2015 1.0804 1.0750 -
    22 Oct 2015 1.0696 1.0643 -
    21 Oct 2015 1.0615 1.0562 -
    20 Oct 2015 1.0611 1.0559 -
    19 Oct 2015 1.0630 1.0577 -
    16 Oct 2015 1.0594 1.0541 -
    15 Oct 2015 1.0511 1.0458 -
    14 Oct 2015 1.0438 1.0386 -
    13 Oct 2015 1.0448 1.0396 -
    12 Oct 2015 1.0408 1.0357 -
    09 Oct 2015 1.0446 1.0393 -
    08 Oct 2015 1.0547 1.0495 -
    07 Oct 2015 1.0474 1.0422 -
    06 Oct 2015 1.0551 1.0498 -
    02 Oct 2015 1.0503 1.0451 -
    01 Oct 2015 1.0360 1.0308 -
    30 Sep 2015 1.0399 1.0347 -
    29 Sep 2015 1.0266 1.0215 -
    28 Sep 2015 1.0278 1.0226 -
    25 Sep 2015 1.0435 1.0383 -
    24 Sep 2015 1.0428 1.0376 -
    23 Sep 2015 1.0481 1.0428 -
    22 Sep 2015 1.0452 1.0400 -
    21 Sep 2015 1.0551 1.0498 -
    18 Sep 2015 1.0438 1.0386 -
    17 Sep 2015 1.0625 1.0572 -
    16 Sep 2015 1.0574 1.0521 -
    15 Sep 2015 1.0612 1.0559 -
    14 Sep 2015 1.0424 1.0372 -
    11 Sep 2015 1.0597 1.0544 -
    10 Sep 2015 1.0568 1.0515 -
    09 Sep 2015 1.0579 1.0526 -
    08 Sep 2015 1.0624 1.0571 -
    07 Sep 2015 1.0560 1.0507 -
    04 Sep 2015 1.0520 1.0468 -
    03 Sep 2015 1.0527 1.0475 -
    02 Sep 2015 1.0533 1.0480 -
    01 Sep 2015 1.0372 1.0320 -
    31 Aug 2015 1.0508 1.0455 -
    28 Aug 2015 1.0517 1.0465 -
    27 Aug 2015 1.0498 1.0446 -
    26 Aug 2015 1.0418 1.0366 -
    25 Aug 2015 1.0192 1.0141 -
    24 Aug 2015 1.0091 1.0040 -
    21 Aug 2015 1.0224 1.0173 -
    20 Aug 2015 1.0467 1.0415 -
    19 Aug 2015 1.0631 1.0578 -
    18 Aug 2015 1.0691 1.0638 -
    17 Aug 2015 1.0651 1.0598 -
    14 Aug 2015 1.0632 1.0579 -
    13 Aug 2015 1.0638 1.0585 -
    12 Aug 2015 1.0595 1.0542 -
    11 Aug 2015 1.0778 1.0724 -
    10 Aug 2015 1.0769 1.0715 -
    07 Aug 2015 1.0666 1.0613 -
    06 Aug 2015 1.0744 1.0691 -
    05 Aug 2015 1.0805 1.0751 -
    04 Aug 2015 1.0676 1.0623 -
    31 Jul 2015 1.0808 1.0754 -
    30 Jul 2015 1.0861 1.0807 -
    29 Jul 2015 1.0801 1.0747 -
    28 Jul 2015 1.0749 1.0696 -
    27 Jul 2015 1.0653 1.0599 -
    24 Jul 2015 1.0762 1.0708 -
    23 Jul 2015 1.0731 1.0678 -
    22 Jul 2015 1.0757 1.0703 -
    21 Jul 2015 1.0731 1.0677 -
    20 Jul 2015 1.0813 1.0759 -
    17 Jul 2015 1.0804 1.0750 -
    16 Jul 2015 1.0709 1.0655 -
    15 Jul 2015 1.0617 1.0564 -
    14 Jul 2015 1.0545 1.0493 -
    13 Jul 2015 1.0575 1.0522 -
    10 Jul 2015 1.0460 1.0408 -
    09 Jul 2015 1.0278 1.0227 -
    08 Jul 2015 1.0147 1.0097 -
    07 Jul 2015 1.0246 1.0195 -
    06 Jul 2015 1.0218 1.0167 -
    03 Jul 2015 1.0312 1.0261 -
    02 Jul 2015 1.0158 1.0108 -
    01 Jul 2015 1.0123 1.0073 -
    30 Jun 2015 1.0000 1.0000 -

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  • Investment Team
    Jordan Cvet
    Jordan Cvetanovski

    Chief Investment Officer and Portfolio Manager

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    Steven Glass
    Steven Glass

    Head of Research and Portfolio Manager

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    James McDonald
    James Mcdonald

    Portfolio Manager

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    Ronald Yu
    Ronald Yu

    Equity Analyst

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    Tim Blake
    Tim Blake

    Equity Analyst

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    Ryan Fisher
    Ryan Fisher

    Equity Analyst

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  • Investor Notifications
    Attribution Managed Investment Trust regime changes - 4 December 2017 Download
  • Reports and Resources

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  • Ratings and Awards
    Ratings
    Zenith Recommended** Click to View
    SQM Favourable* Click to View

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

    *SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. Information contained in this document attributable to SQM Research must not be used to make an investment decision. The SQM Research rating is valid at the time the report was issued (11 January, 2017), however it may change at any time. While the information contained in the rating is believed to be reliable, its completeness and accuracy is not guaranteed. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.

    **The Zenith Investment Partners ("Zenith") Australian Financial Services License No. 226872 rating (assigned 30 November 2017) 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.