Investment Objective
A best ideas portfolio of around 20 – 40 global companies, designed to be a core international equity holding.
Seeking companies that exhibit quality characteristics such as sustainable growth, strong profitability, defendable market position, and strong balance sheets.
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
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 as a screen 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 | MSCI World Total Return Index with Net Dividends in AUD |
| Stock Range | 20 – 40 |
| Individual Stock Weight | 0-10% |
| Inception Date | 1 November 2016 |
| Fund Size | $31m |
| Distribution Frequency | Semi-Annual |
| Currency | Unhedged |
| APIR Code | WRA5182AU |
| ARSN | 642 393 799 |
Performance, Prices & Distributions
Net returns as at 31 October 2023
| 1 month % | 3 months % | FYTD % | 1 year % | 3 years % pa | 5 years % pa | 10 years % pa | Since inception (01/11/2016) % pa | |
|---|---|---|---|---|---|---|---|---|
| Fund | -1.01 | -6.23 | -5.09 | +4.06 | +4.74 | +6.91 | - | +8.82 |
| Benchmark | -1.02 | -3.48 | -1.45 | +11.58 | +11.94 | +10.67 | - | +11.85 |
| Relative Return | +0.01 | -2.75 | -3.64 | -7.52 | -7.20 | -3.76 | - | -3.03 |
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 May 2020.
|
Current Unit Price |
Month-end Unit Price |
|
|---|---|---|
| Application | $1.2054 | $1.1557 |
| Redemption | $1.2006 | $1.1511 |
| Distribution Rate | Reinvestment Price | |
|---|---|---|
| 30 June 2023 | $0.01694415 | $1.2152 |
| 31 December 2022 | $0.00129009 | $1.1211 |
| 30 June 2022 | $0.01798039 | $1.0873 |
| 31 December 2021 | $0.00283022 | $1.3520 |
| 30 June 2021 | $0.04552057 | $1.2164 |
| 31 December 2020 | $0.00 | N/A |
| 30 June 2020 | $0.4636 | $1.0699 |
Portfolio Holdings
As at 31 October 2023
| Company Name | Sector | Country | Weighting |
|---|---|---|---|
| New Informa | Communication Services | United Kingdom | 6.2% |
| Electronic Arts | Communication Services | United States | 5.8% |
| Marsh & Mclennan Cos | Financials | United States | 5.5% |
| Becton Dickinson | Health Care | United States | 4.9% |
| Microsoft Corp | Information Technology | United States | 4.8% |
| Adobe | Information Technology | United States | 4.8% |
| Visa A | Financials | United States | 4.6% |
| Intertek Group | Industrials | United Kingdom | 4.4% |
| American Tower Corp | Real Estate | United States | 4.1% |
| Zoetis A | Health Care | United States | 4.0% |
| Total | 49.1% |
Portfolio holdings are subject to change.
As at 31 October 2023
| 20.0% | Information Technology | |
| 16.0% | Healthcare | |
| 16.0% | Financials | |
| 15.0% | Industrials | |
| 13.0% | Communication Services | |
| 9.0% | Consumer Staples | |
| 4.0% | Real Estate | |
| 3.0% | Materials | |
| 2.0% | Consumer Discretionary | |
| 2.0% | Cash | |
As at 31 October 2023
| 63.0% | United States | |
| 13.0% | United Kingdom | |
| 8.0% | Asia ex-Japan | |
| 6.0% | Europe | |
| 3.0% | Japan | |
| 3.0% | Scandinavia | |
| 2.0% | Canada | |
DIRECT INVESTORS - SUBMIT YOUR APPLICATION ONLINE
FINANCIAL ADVISERS - ACCESS THE ONLINE APPLICATIONS MANAGER
FUND RATINGS & PLATFORM AVAILABILITY
| Platform |
|---|
| HUB24 |
| Mason Stevens |
| Netwealth |
Important Legal Information
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned WRA5182AU November 2022) 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.
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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