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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. 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 external 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 | The top contributors included the Brookfield Prime Property Fund (up 14.8%), the Bronte Capital Amalthea Fund (up 7%) and India Avenue Equity Fund (up 5.1%). The Fund had no major detractors for the month, however, results were fairly choppy across the board. At month end, 61% of the Fund was invested in unlisted investments, 20% in the Affluence LIC Fund, 6% in other listed investments, and 13% in cash. The Fund currently provides exposure to over 25 unlisted funds, and over 20 LIC's and other listed entities. |
| More Information |
