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| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
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| FUM (millions) | |
| Fund Overview | The overriding objective of the Concentrated Australian Equities Fund is to seek investment opportunities which are under-appreciated and have the potential to deliver positive earnings, while satisfying our stringent quality criteria. Bennelong's investment process combines bottom-up fundamental analysis together with proprietary investment tools which are used to build and maintain high quality portfolios that are risk aware. The portfolio typically consists of 20-35 high-conviction stocks from the S&P/ASX 300 Index. The Fund may invest in securities listed on other exchanges where such securities relate to ASX-listed securities. Derivative instruments are mainly used to replicate underlying positions and hedge market and company specific risks. |
| Manager Comments | The Fund returned +13.81% over the quarter, outperforming the Index by +5.34%. The Fund benefited from strong returns from some of its largest holdings; CSL, Reliance Worldwide and Aristocrat Leisure. Bennelong noted these names typify the kind of stocks in which they seek to invest, all are high quality growth companies that proved again this quarter to have better than expected earnings prospects. The Fund is a concentrated portfolio of BAEP's highest conviction stock ideas. It is 'index unaware' and thus able to avoid large benchmark weights if considered appropriate. Over the quarter the Fund's underweight position in the banking sector (less than 1% of the portfolio) contributed to relative performance. |
| More Information |
