investment fund manager 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%.
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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.