A high conviction Australian equities portfolio
Australian equities can offer investors an exposure to the growth potential of leading Australian businesses. The Warakirri Concentrated Australian Equities Fund offers investors an actively managed, high quality portfolio of Australian companies with above average growth prospects over the long term. Utilising a “quality” approach, the Fund is managed by our specialist investment partner, Northcape Capital, who are a dedicated, well established, highly skilled and passionate team that has successfully been managing Australian equities since 2004. Using a disciplined investment process focused on rigorous fundamental research, with ESG considerations incorporated into the investment decision making process, the team are tightly focused on “hand picking” a concentrated portfolio of the highest quality business at reasonable prices.
Investment Objective
A concentrated portfolio of 15 – 30 Australian companies with the flexibility to take meaningful positions.
Primary focus is to identify quality businesses that offer above average growth prospects and high rates of return on equity over the long term.
A strong emphasis on high-quality businesses aimed at delivering resilient and sustained performance.
Fund Facts
| Benchmark | S&P/ASX300 Accumulation Index |
| Stock Range | 15 - 30 |
| Portfolio Turnover | 20-30% |
| Inception Date | 25 April 1996 |
| Fund Size | $75m |
| Distribution Frequency | Quarterly |
| Currency | AUD |
| APIR Code | WRA3342AU |
| ARSN | 642 392 041 |
Performance, Prices & Distributions
Net returns as at 31 July 2026
| 1 month % | 3 months % | FYTD % | 1 year % | 3 years % pa | 5 years % pa | 10 years % pa | Since inception (25/04/1996) % pa | |
|---|---|---|---|---|---|---|---|---|
| Fund | +2.09 | +5.41 | +2.09 | +2.12 | +6.17 | +6.00 | +7.03 | +9.39 |
| Benchmark | +2.13 | +4.02 | +2.13 | +5.84 | +10.28 | +7.80 | +8.96 | +8.84 |
| Relative Return | -0.04 | +1.39 | -0.04 | -7.96 | -4.11 | -1.80 | -1.93 | +0.55 |
Past performance is not a reliable indicator of future performance. The return of capital is not guaranteed.
Northcape Capital was appointed the underlying investment manager effective 30 April 2020.
|
Current Unit Price |
Month-end Unit Price |
|
|---|---|---|
| Application | $ 1.8683 | $1.8270 |
| Redemption | $ 1.8645 | $1.8234 |
| Distribution Rate | Reinvestment Price | |
|---|---|---|
| 30 June 2026 | $0.00935481 | $1.7878 |
| 31 March 2026 | $0.00770655 | $1.7173 |
| 31 December 2025 | $0.01061060 | $1.8123 |
| 30 September 2025 | $0.01440854 | $1.8748 |
| 30 June 2025 | $0.00880032 | $1.8680 |
| 31 March 2025 | $0.00393409 | $1.7423 |
| 31 December 2024 | $0.01461212 | $1.8287 |
| 30 September 2024 | $0.00963149 | $1.8572 |
| 30 June 2024 | $0.00420139 | $1.6922 |
| 31 March 2024 | $0.00564986 | $1.7249 |
| 31 December 2023 | $0.00808557 | $1.6708 |
| 30 September 2023 | $0.01446666 | $1.5189 |
| 30 June 2023 | $0.00216666 | $1.5726 |
| 31 March 2023 | $0.00888945 | $1.5695 |
| 31 December 2022 | $0.00588007 | $1.4860 |
| 30 September 2022 | $0.02473100 | $1.3738 |
| 30 June 2022 | $0.02638005 | $1.4191 |
| 31 March 2022 | $0.0115454 | $1.5947 |
| 31 December 2021 | $0.00188564 | $1.6174 |
| 30 September 2021 | $0.01769377 | $1.5790 |
| 30 June 2021 | $0.00455648 | $1.5154 |
| 31 March 2021 | $0.00678727 | $1.4187 |
| 31 December 2020 | $0.00 | N/A |
| 30 September 2020 | $0.00532058 | $1.2303 |
Portfolio Holdings
As at 31 July 2026
| Stock Code | Company Name | Fund Weighting | Index | Variance |
|---|---|---|---|---|
| BHP | BHP Billiton Limited | 14.4% | 11.0% | 3.4% |
| CBA | Commonwealth Bank | 10.4% | 10.6% | -0.2% |
| MQG | Macquarie Group Limited | 8.2% | 3.2% | 5.0% |
| TCL | Transurban Group Limited | 6.3% | 1.7% | 4.6% |
| QAN | Qantas Airways Limited | 4.9% | 0.5% | 4.4% |
| BXB | Brambles Limited | 4.4% | 0.9% | 3.5% |
| ASX | ASX Limited | 4.3% | 0.4% | 3.9% |
| TLC | Lottery Corporation Limited | 3.6% | 0.5% | 3.1% |
| FPH | Fisher & Paykel Healthare Corporation Limited | 3.5% | 0.2% | 3.3% |
| ALQ | ALS Limited | 3.5% | 0.4% | 3.1% |
| Total | 63.5% | 29.4% | 34.1% |
Portfolio holdings are subject to change.
As at 31 July 2026
| 30.0% | Financials | |
| 25.0% | Industrials | |
| 22.0% | Materials | |
| 11.0% | Healthcare | |
| 6.0% | Consumer Discretionary | |
| 1.0% | Communication Services | |
| 1.0% | Information Technology | |
| 2.0% | Futures | |
| 2.0% | Cash | |
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Fund Ratings & Platform Availability
| Platform | |
|---|---|
| BT Panorama | Netwealth |
| Macquarie Wrap | North |
| HUB24 | Praemium |
FAQs
What is the Warakirri Concentrated Australian Equities Fund (“Fund”)?
The Warakirri Concentrated Australan Equities Fund is an actively managed investment fund that provides investors with access to a hand-selected, high conviction portfolio of Australian stocks that is different to the benchmark. The Fund aims to achieve long-term capital growth through a disciplined and proven investment process.
What is the investment team’s approach to managing Australian Equities?
The investment team believe investing in “quality” companies with a long-term investment horizon is the key to protecting investor wealth on the downside, while capturing steady capital growth over time. Watch this video to learn more about a quality approach to investing in Australian equities.
What is the investment strategy of the Warakirri Concentrated Australian Equities Fund?
The Warakirri Concentrated Australian Equities Fund utilises an active management approach. The Fund’s investment manager seeks to invest in a concentrated portfolio of no more than 30 high quality businesses invested over an average time frame of three or more years based on their growth potential.
What benchmark is the Fund measured against?
The Fund’s benchmark is the S&P ASX 300 Accumulation Index. This index tracks the top 300 Australian listed companies across large-cap and mid-cap stocks.
Who is the investment manager?
Northcape Capital is an international boutique fund manager fully owned by its staff. Northcape specialise in managing concentrated high-quality equity portfolios and has delivered significant value-added returns since their establishment in 2004, facilitating growth in funds under management to more than A$10 billion.
Important Legal Information
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned WRA3342AU June 2025) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.
The rating issued October 2025 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2025 Lonsec. All rights reserved.
The Genium rating (assigned July 2025) presented in this document is issued by Genium Investment Partners Pty Ltd ABN 13 165 099 785, which is a Corporate Authorised Representative of Genium Advisory Services Pty Ltd ABN 94 304 403 582, AFSL 246580. The Rating is limited to “General Advice” (s766B Corporations Act 2001 (Cth)) and has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without notice. Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision in relation to this financial product(s). Genium receives a fee from the Fund Manager for researching and rating the product(s). Visit Geniumip.com.au for information regarding Genium’s Ratings methodology.
Past performance is not necessarily indicative of future performance.
This website is maintained by Warakirri Asset Management Limited (ABN 33 057 529 370) (Australian Financial Services Licence Holder No. 246782) and provides general product information only and does not constitute financial advice as it does not take into account an individual’s personal circumstances and is not an offer or solicitation to enter into an agreement. Investors should not rely on the information on this website and should refer to the Fund’s Product Disclosure Statement (PDS), Additional Information Booklet and TMD, and seek independent advice from their financial adviser. A PDS and TMD for the Fund is available on this website or by calling 1300 927 254. The PDS and TMD should be considered before making an investment decision. Investments entail risks, the value of investments can go down as well as up and investors should be aware they might not get back the full value invested. Portfolio holdings are subject to change.
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