Affluence Members Insights
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Typical absolute return funds and balanced funds have a reasonably high allocation to fixed income products. At Affluence, in the current market this does not make sense to us. Given the 10-year bond yield has just hit new lows at 1.8%, we struggle to see how the sector in general can achieve our return target of inflation plus 5%.
Key Details Profile date: July 2016 Manager: Watermark Funds Management Fund: Watermark Market Neutral Trust and two LIC’s Fund Type: Retail Unlisted Fund and LIC’s Investments: ASX listed stocks Key People: Justin Braitling Strategy: Market neutral fund manager that looks to …
Wilson Asset Management (WAM) are arguably the leaders in LICs in Australia. They currently directly manage three listed vehicles (WAM, WAA and WAX) and have just completed an IPO for almost $400 million for a new LIC, the WAM Leaders Fund …
Key Details Profile date: May 2016 Manager: Wentworth Williamson Fund: Wentworth Williamson Fund Fund Type: Wholesale Unlisted Fund Invests In: ASX listed stocks Key People: James Williamson, Geoff Levy Investment Focus: Deep value bias with a focus on research and analysis …
This activist manager has delivered good returns through a quite different strategy. They predominantly invest in small-medium ASX listed stocks trading at a discount to assessed valuation. They then attempt to work proactively with management and boards of those companies to help realise value. If they’re not getting the results …
We took the chance during the recent market downturn to review the listed debt and hybrid securities available in the market. We came across two potentially rewarding debt opportunities, both of which we added to the Fund investment portfolio. The first is Origin Energy Hybrids. …
As at December 2015 we have largely completed the Affluence Fund portfolio implementation and consider the Fund to be reasonably well diversified. The Fund is invested in 9 underlying managed funds accounting for 68% of the portfolio and 13 listed investment companies …
Microequities first came to our notice around 2 years ago when we started seriously doing research for the Affluence concept. Right off the bat they showed many of the qualities we admire in a great fund manager. In addition to delivering great returns, they were operating in a specialist area and hold a high-conviction portfolio. The principal, Carlos Gill was substantially invested in the Fund and had a great background both in Australia and overseas. Most importantly, they have shown themselves to be remarkably resilient in market corrections, something that is somewhat unusual in this space.
We seek to construct a diversified investment portfolio across different asset classes for the Affluence Fund. We do this by investing in a number of different types of funds run by, in our opinion, the best managers available in Australia. We …