Firetrail Australian Small Companies Fund

Access big opportunities in Australian small companies

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Overview

The Firetrail Australian Small Companies Fund is a concentrated portfolio of our most compelling Australian Small Company ideas. The strategy is built on fundamental, deep dive research guided by the philosophy that ‘every company has a price’.

The Fund aims to outperform the S&P/ASX Small Ordinaries Accumulation Index over the medium to long term after fees.

Fund Flyer
Five Key Holdings
Latest Performance Report
Stewardship Report

Focused

A concentrated portfolio of our best ~40 ideas in Australian small companies.

Flexible

A flexible investment approach investing across different sectors and styles (including value and growth opportunities).

Experienced

A proven track record of outperformance for more than 15 years. Members of the investment team have adopted the same strategy since 1998.

Investment team

Managing Director & Portfolio Manager

Patrick Hodgens

Patrick is the Managing Director at Firetrail as well as a Portfolio Manager for the Firetrail Australian High Conviction Fund, Firetrail Australian Small Companies Fund, Firetrail Absolute Return Fund, and Firetrail S3 Global Opportunities Fund. Patrick has over 39 years’ experience investing in equity markets. Prior to joining Firetrail, Patrick spent 28 years at Macquarie Group as an Executive Director and Head of Listed Equities. Patrick holds a Bachelor of Business from the University of Technology Sydney.
Portfolio Manager

Matthew Fist

Matthew is a Portfolio Manager at Firetrail Investments for the Firetrail Australian Small Companies Fund. Matthew’s primary sector responsibilities are Resources and Industrial Small Companies. Matthew has over 14 years’ relevant industry experience. Prior to joining Firetrail, Matthew was Co-Lead Portfolio Manager for the Macquarie Australian Small Companies Fund. Matthew holds a Bachelor of Mechanical Engineering and a Bachelor of Science majoring in Economic Geology.
Portfolio Manager

Eleanor Swanson

Eleanor Swanson is a Portfolio Manager at Firetrail Investments for the Firetrail Australian Small Companies Fund. Eleanor's primary sector responsibilities are Technology, Healthcare and Australian Small Companies. Eleanor has over 10 years’ relevant industry experience. Prior to joining Firetrail, she worked as an analyst at Macquarie Group with the Firetrail team on the Macquarie Australian Equities strategies. Eleanor holds a Bachelor of Science (Immunobiology) and a Bachelor of Commerce (Finance) from the University of Sydney. She is also a CFA Charterholder.

Key Features

APIR WHT3093AU
Benchmark S&P/ASX Small Ordinaries Accumulation Index
Portfolio allocation^ Australian and New Zealand equities: Typically 90 – 100%
Cash: 0 – 10%
Stock numbers Approximately 40
Suitable investor profile This product is intended for use as a minor or satellite allocation for a consumer who is seeking capital growth and has a very high risk and return profile for that portion of their investment portfolio. It is likely to be consistent with the financial situation and needs of a consumer with a 5 - 7 years investment timeframe and who is unlikely to need to withdraw their money on less than one week’s notice.
Suggested investment timeframe 5 to 7 years or more
Risk Vey high
Short selling Not permitted
Borrowings Not permitted
Legal structure Unlisted, open-ended Australian unit trust
Distribution Semi-annually, subject to the Fund having sufficient distributable income as at 30 June and 31 December.
Minimum initial investment 1 A$20,000

Ratings

Further information on our Ratings and Certifications can be found in the Disclaimer & Disclosure section.

Unit Prices and distributions

Unit Price History

Unit prices are net of fees & do not include distributions. Calculation of unit prices is based on the net asset value plus/minus transaction costs divided by the total number of units on issue. Past performance is not a reliable indicator of future performance. The inception date is the date that the current investment strategy commenced, which is 20 February 2020. This material has been provided for general information purposes and must not be construed as investment advice.

Distribution History

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1

The Responsible Entity has the discretion to accept lower initial investments. Does not apply to IDPS investments.

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The portfolio allocation ranges provided are indicative only. The Fund will be rebalanced within a reasonable period of time should the exposure move outside these ranges. The Fund is typically expected to be fully invested. A portion of the portfolio may be allocated to cash or derivatives for liquidity purposes. The Fund may hold exchange traded derivatives to a maximum of 10% of the Fund’s NAV.

Disclaimer & Disclosure

This webpage is prepared by Firetrail Investments Pty Limited (‘Firetrail’) (ABN 98 622 377 913, AFSL 5168 21) as the investment manager of the Firetrail Australian Small Companies Fund (ARSN 638 792 113) (the ‘Fund’). Pinnacle Fund Services Limited (‘PFSL’) (ABN 29 082 494 362, AFSL 238371) is the product issuer of the Fund and is a wholly owned subsidiary of Pinnacle Investment Management Group Limited (‘Pinnacle’) (ABN 22 100 325 184). PFSL is not licensed to provide financial product advice.

The information contained in this webpage is general information only and does not take into account your objectives, financial situation or needs. Before making a decision to acquire, or continue to hold units in, the Fund, you should consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD). For historic TMDs, please contact Pinnacle Client Services via phone 1300 010 311 or email service@pinnacleinvestment.com. Any persons relying on this information should obtain professional advice before doing so and consider the appropriateness of the information having regard to your specific circumstances.

Past performance is not a reliable indicator of future performance and the repayment of capital is not guaranteed. The specific risks associated with investing in the Fund, and the risks associated with the Fund’s investments, are discussed in Section 5 of the PDS. Any opinions and forecasts reflect the judgment and assumptions of Firetrail and its representatives based on information available as at the date of publication and may later change without notice.

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (Firetrail Australian Small Companies Fund assigned February 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

The rating issued 09/2023 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2023 Lonsec. All rights reserved.