The Fund invests in listed securities with a minimum exposure of 75% to Australian and NZ securities (including cash) and a maximum exposure of 25% to other international markets. The portfolio will typically consist of 20-40 stocks. The fund can hold up to 25% of the portfolio in cash.

Our strategy is to identify stocks with VoF attributes (value latency, operational performance, industry/strategic positioning & focused management). The portfolio can be divided into 3 pools, that include 2 Subsets of Value:

Compounding

• Niche growth companies – growing companies with identifiable value propositions using traditional value metrics run by focused, prudent and experienced management.
• Stalwarts – sturdy, strong and generally larger companies with world class privileged market and competitive positions.

Reversionary‍

• Cyclicals – stocks showing upside leverage to the cycle with experienced and contrarian managers who can allocate capital prudently and with good balance sheets. In other words growth cyclicals who can go to higher highs over multiple cycles.
• Low Risk Turnarounds – sound businesses with good management in place and good balance sheets essential.

Real Assets & Income

• Asset plays – stocks with strong or improving balance sheets trading at discounts to net asset value or replacement value.
• Bond like equities – stocks with secure low-volatile dividends that can be grown and recapture inflationary effects over time.

Redemptions

$50,000 minimum tranches (provided that the unit holder maintains a minimum investment of $500,000) may be redeemed on each Thursday and the last day of each month, with 1 business day's notice.

Management Fee

1.0% per annum of the Net Asset Value (before fees and expenses) plus GST calculated and paid monthly in arrears directly from the Fund.

Performance Fee

10% of the Fund's out-performance of the S&P/ASX 200 Accumulation Index plus GST. A high water mark applies.