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| Fund Overview | The Fund does not invest directly into any asset class, rather, it invests in investment managers which satisfy Affluence Funds Management's investment criteria; its investment philosophy is based on a formula developed by CEO/Portfolio Manager Daryl Wilson since the start of his career in 1999. The Fund targets total returns of at least 5% above inflation over rolling 3 year periods with volatility of returns less than 50% of the ASX200 Index. The Fund also aims to provide investors with a distribution yield of at least 5% p.a. Finally, the Fund aims to outperform the Australian stock market (S&P/ASX 200 Accumulation Index) by at least 5% in any year in which that index delivers a negative return. To ensure appropriate diversity of managers and limit the potential for conflicts of interest, no more than 20% of the Fund will be invested with any one manager. Affluence seeks to achieve the Funds' investment objective by choosing attractively priced investments overseen by quality managers. The Fund uses a number of processes to identify potential investments including quantitative screens for investments which meet historical performance, volatility and other criteria. They also use a number of external researchers and information sources to assist in this process. |
| Manager Comments | Amongst the 19 unlisted Fund investments, the worst monthly result was -2.8%. More than half of the investments delivered positive performance. The LIC investments had a mixed month in June, but still outperformed the market by around 2.5%. The newly listed WAM Leaders Fund was a key positive contributor. The 19 unlisted funds represented 60% of the total portfolio. Another 17 listed investment companies and other securities represented 20% of the portfolio. The rest of the balance was held in cash. Click below to read the latest Fund Manager's report. |
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