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3 Dec 2020 - Performance Report: The Airlie Australian Share Fund

By: Australian Fund Monitors

Report Date03 December 2020
ManagerAirlie Funds Management
Fund NameThe Airlie Australian Share Fund
StrategyEquity Long
Latest Return DateOctober 2020
Latest Return1.15%
Latest 6 Months12.03%
Latest 12 Months-1.78%
Latest 24 Months (pa)7.41%
Annualised Since Inception4.96%
Inception Date01 June 2018
FUM (millions)AU$34.49
Fund OverviewThe Fund aims to provide investors with long-term capital growth and regular income through investment in Australian equities.

The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). Maximum cash holding of 10% with an aim to be fully invested.

Airlie employs a prudent investment approach that identifies companies based on their financial strength, attractive durable business characteristics and the quality of their management teams. Airlie invests in these companies when their view of their fair value exceeds the prevailing market price.

It is jointly managed by Matt Williams and Emma Fisher. Matt has over 25 years' investment experience and formerly held the role of Head of Equities and Portfolio Manager at Perpetual Investments. Emma has over 8 years' investment experience and has previously worked as an investment analyst within the Australian equities team at Fidelity International and, prior to that, at Nomura Securities.
Manager CommentsThe Airlie Australian Share Fund rose +1.15% in October, taking annualised performance since inception in June 2018 to +4.96% with an annualised volatility of 17.41%. By contrast, the ASX200 Accumulation Index has returned +3.21% p.a. with an annualised volatility of 18.17% over the same period. Over the past 12 months, the Fund has outperformed the Index by +6.37%.

At month-end, the portfolio's top positions included Aurizon Holdings, BHP Group, Coles Group, CBA, CSL, Macquarie Group, Mineral Resources, Pacific Current Group, Wesfarmers and Westpac Banking Corporation. The top sectors in the portfolio were Financials (27% of the portfolio), Consumer Discretionary (15%), and Health Care (10%) and Industrials (10%).
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