NEWS
20 Dec 2021 - Managers Insights | Paragon Funds Management
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Chris Gosselin, CEO of FundMonitors.com, speaks with John Deniz, CIO at Paragon Funds Management. The Paragon Australian Long Short Fund has a track record of 8 years and 9 months and has consistently outperformed the ASX 200 Total Return Index since inception in March 2013, providing investors with a return of 15.36%, compared with the index's return of 8.64% over the same time period.
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20 Dec 2021 - New Funds on Fundmonitors.com
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New Funds on Fundmonitors.com |
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Below are some of the funds we've recently added to our database. Follow the links to view each fund's profile, where you'll have access to their offer documents, monthly reports, historical returns, performance analytics, rankings, research, platform availability, and news & insights. |
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20 Dec 2021 - Ready for Take Off (Adviser & Wholesale Investors Only)
17 Dec 2021 - Hedge Clippings | 17 December 2021
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17 Dec 2021 - Performance Report: Delft Partners Global High Conviction Strategy
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| Fund Overview | The quantitative model is proprietary and designed in-house. The critical elements are Valuation, Momentum, and Quality (VMQ) and every stock in the global universe is scored and ranked. Verification of the quant model scores is then cross checked by fundamental analysis in which a company's Accounting policies, Governance, and Strategic positioning is evaluated. The manager believes strategy is suited to investors seeking returns from investing in global companies, diversification away from Australia and a risk aware approach to global investing. It should be noted that this is a strategy in an IMA format and is not offered as a fund. An IMA solution can be a more cost and tax effective solution, for clients who wish to own fewer stocks in a long only strategy. |
| Manager Comments | The Delft Partners Global High Conviction Strategy has a track record of 10 years and 4 months and has outperformed the Global Equity Index since inception in August 2011, providing investors with a return of 15.41%, compared with the index's return of 14.63% over the same time period. On a calendar basis the strategy has had 2 negative annual returns in the 10 years and 4 months since its inception. Its largest drawdown was -13.33% lasting 12 months, occurring between February 2020 and February 2021 when the index fell by a maximum of -13.19%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 four times and currently sits at 1.13 since inception. The strategy has provided positive monthly returns 88% of the time in rising markets, and 14% of the time when the market was negative, contributing to an up capture ratio since inception of 98% and a down capture ratio of 93%. |
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17 Dec 2021 - Performance Report: Airlie Australian Share Fund
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| Fund Overview | The Fund is long-only with a bottom-up focus. It has a concentrated portfolio of 15-35 stocks (target 25). The fund has a 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 Comments | The Airlie Australian Share Fund has a track record of 3 years and 6 months and therefore comparison over all market conditions and against the fund's peers is limited. However, since inception in June 2018, the fund has outperformed the ASX 200 Total Return Index, providing investors with an annualised return of 13.85%, compared with the index's return of 9.49% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 3 years and 6 months since its inception. Its largest drawdown was -23.8% lasting 9 months, occurring between February 2020 and November 2020 when the index fell by a maximum of -26.75%. The Manager has delivered these returns with -0.45% less volatility than the index, contributing to a Sharpe ratio which has fallen below 1 twice and currently sits at 0.87 since inception. The fund has provided positive monthly returns 100% of the time in rising markets, and 15% of the time when the market was negative, contributing to an up capture ratio since inception of 113% and a down capture ratio of 90%. |
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17 Dec 2021 - Performance Report: Insync Global Capital Aware Fund
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| Fund Overview | Insync invests in a concentrated portfolio of high quality companies that possess long 'runways' of future growth benefitting from Megatrends. Megatrends are multiyear structural and disruptive changes that transform the way we live our daily lives and result from a convergence of different underlying trends including innovation, politics, demographics, social attitudes and lifestyles. They provide important tailwinds to individual stocks and sectors, that reside within them. Insync believe this delivers exponential earnings growth ahead of market expectations. The fund uses Put Options to help buffer the depth and duration that sharp, severe negative market impacts would otherwide have on the value of the fund during these events. Insync screens the universe of 40,000 listed global companies to just 150 that it views as superior. This includes profitability, balance sheet performance, shareholder focus and valuations. 20-40 companies are then chosen for the portfolio. These reflect the best outcomes from further analysis using a proprietary DCF valuation, implied growth modelling, and free cash flow yield; alongside management, competitor, and industry scrutiny. The Fund may hold some cash (maximum of 5%), derivatives, currency contracts for hedging purposes, and American and/or Global Depository Receipts. It is however, for all intents and purposes, a 'long-only' fund, remaining fully invested irrespective of market cycles. |
| Manager Comments | The Insync Global Capital Aware Fund has a track record of 12 years and 3 months and has consistently outperformed the Global Equity Index since inception in October 2009, providing investors with a return of 12.98%, compared with the index's return of 12.15% over the same time period. On a calendar basis the fund has had 2 negative annual returns in the 12 years and 3 months since its inception. Its largest drawdown was -10.98% lasting 7 months, occurring between September 2018 and April 2019 when the index fell by a maximum of -10.57%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has never fallen below 1 and currently sits at 1.01 since inception. The fund has provided positive monthly returns 80% of the time in rising markets, and 24% of the time when the market was negative, contributing to an up capture ratio since inception of 60% and a down capture ratio of 66%. |
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17 Dec 2021 - Performance Report: Collins St Value Fund
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| Fund Overview | The managers of the fund intend to maintain a concentrated portfolio of investments in ASX listed companies that they have investigated and consider to be undervalued. They will assess the attractiveness of potential investments using a number of common industry based measures, a proprietary in-house model and by speaking with management, industry experts and competitors. Once the managers form a view that an investment offers sufficient upside potential relative to the downside risk, the fund will seek to make an investment. If no appropriate investment can be identified the managers are prepared to hold cash and wait for the right opportunities to present themselves. |
| Manager Comments | The Collins St Value Fund has a track record of 5 years and 10 months and has consistently outperformed the ASX 200 Total Return Index since inception in February 2016, providing investors with a return of 18.07%, compared with the index's return of 10.96% over the same time period. On a calendar basis the fund has never had a negative annual return in the 5 years and 10 months since its inception. Its largest drawdown was -27.46% lasting 7 months, occurring between February 2020 and September 2020. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 four times and currently sits at 0.97 since inception. The fund has provided positive monthly returns 83% of the time in rising markets, and 65% of the time when the market was negative, contributing to an up capture ratio since inception of 82% and a down capture ratio of 33%. |
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17 Dec 2021 - Why we invest in both petrol stations and the EV revolution
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Why we invest in both petrol stations and the EV revolution Montgomery Investment Management 01 December 2021 Despite the world speeding along on the road to electrification, we think the humble petrol station will still be needed for some years to come, particularly here in Australia. Which is why the Montgomery Small Companies Fund has invested in both Waypoint REIT (ASX:WPR), and mining companies producing the lithium that goes into electric vehicles batteries. Throughout the year, we have written about the once-in-a-generation shift from the internal combustion engines to electric power trains. And we're delighted you've been paying attention. Indeed, some investors have gone further, noting our enthusiasm for electric vehicles (EVs) and lithium demand, and querying our investment in WPR by the Montgomery Small Companies Fund. So, here's our thinking. Waypoint REITThere are 20 million registered vehicles on Australia's roads (including motorbikes presumably). Each year about one million new vehicles are sold with about 300,000 of those added to the total fleet and the remaining 700,000 replacing existing vehicles. According to the Australian Electric Vehicle Council, 6718 EVs were sold in 2019. In 2020 that number rose to 6900 and while sales surged in the first half of 2021, only 7248 electric vehicles were sold in addition to 1440 plug-in hybrids (PHEV). Even if every new car sold was an EV or PHEV, and the total Australian fleet continued to grow at the current rate of 1.5 per cent (with the current 3.5 per cent of the fleet replaced each year), it would take 23 years before the entire Australian fleet is fully electric. Today, only 1.4 per cent of annual sales are EVs (albeit sales are accelerating). At this rate, it will take more than three decades, and perhaps four, for Australia's internal combustion engine fleet to be entirely replaced by EVs. So the petrol stations owned by WPR will have a purpose for some time yet. Furthermore, we don't think the portfolio value reduces to zero in an EV only world. Many petrol stations are strategically located along major transport routes and could provide EV charging services while drivers rest and grab a bite to eat. Alternatively, some metro sites might eventually be redeveloped for alternative uses for a tidy profit. The trajectory for lithiumElsewhere in the world, however, the take-up rate of EVs is much faster, and consequently demand for upstream inputs is roaring. EV sales in the US and China are surging despite the semiconductor memory chip shortage. In Europe sales are also strong. In China, EV sales are running at 366,000 per month (up more than seven per cent in September over August) with Tesla and Berkshire-owned BYD dominating. In Germany, by way of example, plug-in vehicle sales are 30 per cent of total vehicle sales. That demand is having a serious impact on the price of lithium. In US$/t, lithium hydroxide (LiOH) has jumped more than 50 per cent year-to-date and lithium carbonate equivalent (LCE) has doubled. In China, 99 per cent LCE priced in RMB/t has jumped 250 per cent and LiOH 275 per cent. Spodumene (US$/t ) is up almost 250 per cent year to date. Spodumene has rallied from US$4,000/t in January this year to over US$18,000, while Asia LCE has risen from US$8,000/t to US$19,000/t. Unsurprisingly, and as we warned might occur, Mineral Resources' (ASX:MIN) share price is up over 80 per cent this year, Orocobre (ASX:ORE) has risen over 25 per cent and Plibara Minerals (ASX:PLS) is up about 20 per cent. Annual global EV sales, including passenger, bus and commercial vehicles, are forecast to grow 13-fold by 2030 from 3.1 million vehicle sales in 2020 to 40 million in 2030. All these vehicles need batteries. Measured in gigawatt hours (GWh), and including energy storage and EV batteries, demand is forecast to grow twelve-fold in nine years from 195 GWh in 2019 to 2,583 GWh in 2030. Nine years isn't long in terms of investment horizon. Of course, there are various EV batteries, including those using a variety of nickel-cobalt-manganese combinations in their cathodes, but all require lithium. Even if all 'probable' lithium mines were ramped up, total lithium supply will be in shortage by 2025. If ever there was a clear reason for a commodity price to rise significantly, this is it, and Australian based producers may just be in the box seat. Written By Roger Montgomery Funds operated by this manager: Montgomery (Private) Fund, Montgomery Small Companies Fund, The Montgomery Fund |
16 Dec 2021 - Performance Report: Paragon Australian Long Short Fund
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| Fund Overview | Paragon's unique investment style, comprising thematic led idea generation followed with an in depth research effort, results in a concentrated portfolio of high conviction stocks. Conviction in bottom up analysis drives the investment case and ultimate position sizing: * Both quantitative analysis - probability weighted high/low/base case valuations - and qualitative analysis - company meetings, assessing management, the business model, balance sheet strength and likely direction of returns - collectively form Paragon's overall view for each investment case. * Paragon will then allocate weighting to each investment opportunity based on a risk/reward profile, capped to defined investment parameters by market cap, which are continually monitored as part of Paragon's overall risk management framework. The objective of the Paragon Fund is to produce absolute returns in excess of 10% p.a. over a 3-5 year time horizon with a low correlation to the Australian equities market. |
| Manager Comments | The Paragon Australian Long Short Fund has a track record of 8 years and 10 months and has consistently outperformed the ASX 200 Total Return Index since inception in March 2013, providing investors with a return of 15.28%, compared with the index's return of 8.49% over the same time period. On a calendar basis the fund has had 1 negative annual return in the 8 years and 10 months since its inception. Its largest drawdown was -45.11% lasting 2 years and 7 months, occurring between January 2018 and August 2020 when the index fell by a maximum of -26.75%. The Manager has delivered higher returns but with higher volatility than the index, resulting in a Sharpe ratio which has fallen below 1 five times and currently sits at 0.65 since inception. The fund has provided positive monthly returns 69% of the time in rising markets, and 47% of the time when the market was negative, contributing to an up capture ratio since inception of 113% and a down capture ratio of 76%. |
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