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 $50.7m
Distribution Frequency Quarterly
Base Management Fee 0.82% p.a.
Performance Fee 20.5% of after-management fee performance over the Benchmark subject to a relative high-water mark
Buy/Sell Spread 0.10% / 0.10%
Currency AUD
APIR Code WRA3342AU
ARSN 642 392 041

Performance, Prices & Distributions


Net returns as at 31 January 2021

1
month
%

3
months
%

FYTD
%

1
year
%

3
years
% pa

5
years
% pa

10
years
% pa

Since inception
(25/04/1996)
% pa

Fund -0.88 +8.89 +12.13 -7.65 +3.01 +7.84 +7.51 +9.69
Benchmark +0.33 +12.05 +14.10 -2.68 +7.13 +10.14 +7.77 +8.67
Relative Return -1.21 -3.16 -1.97 -4.97 -4.12 -2.30 -0.26 +1.02

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
Prices as at 25 February 2021

Month-end Unit Price
Prices as at 29 January 2021

Application $1.4097 $1.3690
Redemption $1.4069 $1.3662

Distribution Rate

Reinvestment Price

31 December 2020 $0.00 N/A
30 September 2020 $0.00532058 $1.2315

Portfolio Holdings

As at 31 January 2021

Stock Code Company Name Fund Weighting Index Variance
BHP BHP Billiton Ltd 11.4% 6.7% 4.7%
TCL Transurban Group 10.3% 1.9% 8.4%
CSL CSL Limited 8.6% 6.5% 2.1%
CBA Commonwealth Bank of Australia 7.7% 7.8% -0.1%
MQG Macquarie Group Ltd 7.2% 2.3% 4.9%
WOW Woolworths Group Ltd 6.8% 2.7% 4.1%
JHX James Hardie Industries 5.8% 0.9% 4.9%
ANZ ANZ Banking Corporation 4.9% 3.5% 1.4%
QAN Qantas Airways 4.6% 0.4% 4.2%
MPL Medibank Private Ltd 3.7% 0.4% 3.3%
Total 71.0% 33.1% 37.9%

Portfolio holdings are subject to change.

As at 31 January 2021

 
32.0% Financials
21.0% Industrials
18.0% Materials
13.0% Healthcare
7.0% Consumer Staples
3.0% Communication Services
2.0% Consumer Discretionary
1.0% Energy
1.0% Cash
1.0% Information Technology