Investment Objective

A core holding which invests in a diversified selection of around 25 – 40 Australian companies and that is focused on maximising after-tax returns.

Primary focus is to identify quality businesses that offer above average growth prospects and high rates of return on equity over the long term.

Ethical overlay incorporating both positive and negative components applied with a focus on sustainable businesses that exhibit sound Environmental, Social & Governance practices.

Ethical Investing – Our Approach


Road through a dense forrest

Warakirri applies a proprietary ethical screen for this Fund, incorporating both positive and negative components.

Positive Overlay

The positive overlay component incorporates a focus on investment in sustainable businesses that exhibit sound environmental, social and governance practices.

Negative Overlay

The negative overlay excludes investment in companies that Warakirri considers have significant businesses, that is, revenue of greater than 5% from the audited financial statements of a company, involved in the:

  • provision of gaming products and/or services
  • manufacture of tobacco products
  • manufacture of alcoholic beverages
  • manufacture of products for military applications
  • manufacture of products that could contribute to increased levels of obesity
  • extraction of thermal coal and/or coal seam gas

Warakirri is ultimately responsible for the application and implementation of the Warakirri Ethical Overlay in consultation with the fund’s underlying investment manager Northcape Capital.

In addition to the application of Warakirri’s proprietary ethical screen, Northcape Capital also incorporate ESG considerations into their investment decision making process. There may be instances where Warakirri elect to exclude a company from the portfolio on ethical grounds, despite that company having passed Northcape’s ESG process.

Northcape’s investment procedures are designed to incorporate ESG issues into their investment analysis and decision-making processes. In particular, ESG factors are used to assess if a company is suitable for inclusion on Northcape’s approved list of companies for investment. Northcape’s ESG test is applied based on a scoring system as follows:

  • Environmental practices (3 points total)
  • Social practices (3 points total)
  • Governance (4 points total).

A company needs to pass Northcape’s ESG test which requires achieving a score of at least 6 out of 10 in relation to the above scoring system before being considered for inclusion on Northcape’s approved list of companies for investment.

More detailed information on Northcape’s ESG test and scoring system is available here.

You can view Northcape’s latest ESG & Investment Stewardship Report here.

Fund Facts

Benchmark S&P/ASX300 Accumulation Index
Stock Range 25-40
Portfolio Turnover 20-30%
Inception Date 1 June 1993
Fund Size $241m
Distribution Frequency Quarterly
Currency AUD
APIR Code WRA7701AU
ARSN 642 393 299

Performance, Prices & Distributions


Net returns as at 29 February 2024

1 month % 3 months % FYTD % 1 year % 3 years % pa 5 years % pa 10 years % pa Since inception (01/06/1993) % pa
Fund +0.08 +8.65 +10.34 +12.29 +10.51 +8.19 +6.90 +10.93
Benchmark +0.98 +9.46 +9.70 +10.53 +9.09 +8.61 +7.94 +9.30
Relative Return -0.90 -0.81 +0.64 +1.76 +1.42 -0.42 -1.04 +1.63

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 1 April 2020.

Current Unit Price
Prices as at 18 March 2024

Month-end Unit Price
Prices as at 29 February 2024

Application $2.2448 $2.2395
Redemption $2.2404 $2.2351
Distribution Rate Reinvestment Price
31 December 2023 $0.03425786 $2.1919
30 September 2023 $0.02280845 $2.0027
30 June 2023 $0.00366338 $2.0613
31 March 2023 $0.01669580 $2.0496
31 December 2022 $0.00878644 $1.9361
30 September 2022 $0.02675738 $1.7983
30 June 2022 $0.03983674 $1.8393
31 March 2022 $0.04338855 $2.0808
31 December 2021 $0.03093051 $2.1313
30 September 2021 $0.02621658 $2.1162
30 June 2021 $0.01978638 $2.0586
31 March 2021 $0.0008336 $1.9353
31 December 2020 $0.0078000 $1.8760
30 September 2020 $0.0060181 $1.6780

Portfolio Holdings

As at 29 February 2024

Stock Code Company Name Fund Weighting Index Variance
BHP BHP Billiton Ltd 10.2% 9.5% 0.7%
CSL CSL Limited 9.3% 5.9% 3.4%
MQG Macquarie Group Ltd 7.7% 3.0% 4.7%
TCL Transurban Group 7.1% 1.8% 5.3%
NAB National Australia Bank 5.9% 4.5% 1.4%
CBA Commonwealth Bank of Australia 4.6% 8.3% -3.7%
JHX James Hardie Industries 4.2% 1.1% 3.1%
IAG Insurance Aust Group 3.7% 0.6% 3.1%
ASX Australian Stock Ex 3.5% 0.5% 3.0%
FPH Fisher & Paykel Healthcare 3.2% 0.2% 3.0%
Total 59.4% 35.4% 24.0%

Portfolio holdings are subject to change.

As at 29 February 2024

 
31.0% Financials
19.0% Industrials
15.0% Materials
15.0% Healthcare
8.0% Consumer Discretionary
5.0% Communication Services
2.0% Consumer Staples
2.0% Energy
2.0% Information Technology
2.0% Cash
 

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FUND RATINGS & PLATFORM AVAILABILITY

Platform
HUB24
Mason Stevens
Netwealth