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| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
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| Latest 24 Months | |
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| FUM (millions) | |
| Fund Overview | The Bennelong Australian Equities Fund seeks quality investment opportunities which are under-appreciated and have the potential to deliver positive earnings. The investment process combines bottom-up fundamental analysis with proprietary investment tools that are used to build and maintain high quality portfolios that are risk aware. The investment team manages an extensive company/industry contact program which helps identify and verify various investment opportunities. The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Index. The Fund may invest in securities listed on other exchanges where such securities relate to the ASX-listed securities. The Fund typically holds between 25-60 stocks with a maximum net targeted position of an individual stock of 6%. |
| Manager Comments | Over the quarter, top contributors included Treasury Wine Estates, Costa Group and Aristocrat Leisure. Detractors included Reliance Worldwide and Flight Centre. The Fund's underweight position in the Resource and Energy sectors also detracted from relative performance. Bennelong noted portfolio positioning has remained unchanged since the Fund's last quarterly report. The Fund has a heavy concentration to 'all weather' businesses selling relatively defensive products or services and a heavy concentration in global businesses. The Manager remains wary of domestic cyclicals such as retailers, media companies, builders and industrials. The Fund has very little exposure to the banks, commodities companies and selective exposure to bond proxies. The Manager also noted they're unexcited by most blue chips due to their lack of growth. |
| More Information |
