aims to produce attractive returns in a variety of market conditions by investing in the best available equities across the globe.  The strategy targets high total returns and is agnostic on whether returns come from income or capital appreciation.

We only hold a small number of companies at any given time, as very few will meet our return and risk criteria.

The strategy is substantially different to others’ and has three key features.

Targeted Investment Returns

Generally, we will only consider investment opportunities where the expected returns are greater than 20% per annum and provide a compelling case to justify the risk taken. We look at potential investments for their ability to generate real returns, rather than trying to select investments that are attractive relative to each other or the broader market.

Where no such investment can be found or market conditions warrant, up to 100% of the portfolio can be held in cash.

Best Opportunities

We only invest in a limited number of the best companies we find. This highly concentrated approach allows us to develop an intimate understanding of each position held and offers unique investment exposures rather than broader market exposures.

Providing a diversified portfolio or blending an array of different investment risks into the portfolio construction is not a primary investment objective. Short term volatility can be high in some market conditions.

Flexible Mandate

We focus on global equity investments with a medium to long term horizon.  However, we may deploy a wide range of other investment exposures where the expected returns are compelling relative to their risks.

These exposures can include pre-IPO companies, real estate, infrastructure, fixed income, alternative assets, and exposures gained through the use of derivatives (with limitations).  International and Australian exposures are included.

Co-investors may join the strategy at our invitation, only wholesale investors can invest with us.