CI Brunswick Fund

Fund Summary

This fund is currently closed to new or additional investments.

Unit prices

Buy 3.4474 / Sell 3.4267 (as at 11/08/2022)

Unit price history (xlsx)

Date of Inception

The Investment

Units in a unit trust – the CI Brunswick Fund (the "Fund").

Minimum Initial Investment

This fund is currently closed to new and additional investments.

Manager

Cooper Investors Pty Limited ("CI" or the "Manager").

Custodian

National Australia Bank Limited.

Benchmark

S&P/ASX 200 Accumulation Index.

Distributions

Income distributions will normally be paid half-yearly as at 31 December and 30 June (although the Manager has the discretion to distribute more frequently) and will automatically be invested in further units unless a unit holder elects otherwise.

Investment Risks and Return Objectives

Our aim is for the Fund’s long term returns to exceed the Benchmark. However, the Fund will be constructed with limited reference to the Benchmark and therefore the returns of the Fund may significantly vary from the Benchmark returns. The Fund has a long term investment horizon.

Investment Strategy

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.
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.
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.

Additional Information & Fees

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.

Inception Date:

Performance as at 31 July 2022

Unit prices (at 11/08/22)

Buy 3.4474

Sell 3.4267