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


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 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 $32m
Distribution Frequency Semi-Annual
Currency Unhedged
APIR Code WRA5182AU
ARSN 642 393 799

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 (01/11/2016) % pa
Fund +5.77 +11.58 +11.61 +21.37 +10.46 +8.92 - +10.83
Benchmark +5.82 +12.69 +15.99 +29.41 +15.10 +13.44 - +13.79
Relative Return -0.05 -1.11 -4.38 -8.04 -4.64 -4.52 - -2.96

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
Prices as at 18 March 2024

Month-end Unit Price
Prices as at 29 February 2024

Application $1.3528 $1.3529
Redemption $1.3474 $1.3475
Distribution Rate Reinvestment Price
31 December 2023 $0.00551854 $1.2307
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 29 February 2024

Company Name Sector Country Weighting
New Informa Communication Services United Kingdom 6.5%
Nvidia Information Technology United States 5.6%
Marsh & Mclennan Cos Financials United States 5.0%
Microsoft Corp Information Technology United States 4.7%
Electronic Arts Communication Services United States 4.5%
Visa A Financials United States 4.5%
Salesforce Information Technology United States 4.4%
Intertek Group Industrials United Kingdom 4.3%
Zoetis A Health Care United States 4.2%
American Tower Corp Real Estate United States 4.1%
Total 47.8%

Portfolio holdings are subject to change.

As at 29 February 2024

 
22.0% Information Technology
17.0% Financials
16.0% Healthcare
15.0% Communication Services
14.0% Industrials
6.0% Consumer Staples
4.0% Real Estate
3.0% Materials
1.0% Consumer Discretionary
2.0% Cash
 

As at 29 February 2024

 
66.0% United States
13.0% United Kingdom
7.0% Asia ex-Japan
5.0% Europe
4.0% Scandinavia
2.0% Japan
1.0% Canada
 

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FUND RATINGS & PLATFORM AVAILABILITY

Platform
HUB24
Mason Stevens
Netwealth