Spheria Opportunities Fund
About the Fund
The Fund, previously known as the Spheria Australian Midcap Fund, is an actively managed portfolio investing in a broad range of Australian and New Zealand companies with a mid-small bias.
The objective of the fund is to specifically seek out equity investments where the present value of future free cash flows can be reasonably ascertained and the security is trading at a discount to its intrinsic value, subject to certain risk criteria.
The letter sent to unitholders can be downloaded here.
The objective of the Fund is to outperform the S&P/ASX Mid-Small Accumulation Index over the medium to long term by investing predominantly in listed companies which are outside the top 50 ASX listed companies by market capitalisation and companies listed on the New Zealand Stock Exchange with an equivalent market capitalisation.
Investing in the Fund offers investors a range of benefits:
- Focus on quality businesses and active investment management – Spheria is a fundamental based investment manager with a bottom-up focus.
- Team experience – the investment team of Spheria has over 40 years’ experience investing in equities.
- Potential for higher growth – midcap companies generally have more potential for growth relative to large companies as they may be in the earlier stages of development or are providing new services or technologies.
- Open-minded, holistic thinking – Spheria assesses stocks with a broader view, noting that global parallels are important in a technologically evolving environment.
- Risk aware – risk is central to Spheria’s thinking around portfolio construction and investment not merely an after-thought.
|BENCHMARK:||S&P/ASX Mid-Small Accumulation Index|
|HOLDS BETWEEN:||Generally 20-65 stocks in Australian & New Zealand listed securities|
|SUGGESTED INVESTMENT TIMEFRAME:||3 to 5 years or more|
|DISTRIBUTION FREQUENCY:||Half yearly|
|MANAGEMENT FEE:||0.99% p.a.|
|PERFORMANCE FEE:||15% p.a. of outperformance above the benchmark (after base mgt fee).|
|RESPONSIBLE ENTITY:||Pinnacle Fund Services Limited|