Firetrail Australian High Conviction Fund

A concentrated portfolio of our best ideas in Australian equities

Fund objective

The Fund aims to outperform the S&P/ASX 200 Accumulation Index over the medium to long term.

Key features

The Fund provides exposure to a concentrated portfolio of approximately 25 Australian securities at any time. Only those securities that our investment team has the highest conviction to generate the greatest returns will be included in the portfolio.

The process employs an unconstrained approach to fundamental research to identify companies we believe offer the most attractive forecast returns based on our medium-term view.

Portfolio Managers

James Miller, Patrick Hodgens, Blake Henricks

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.

Management fee 1,2

0.95% p.a.

Performance fee 3,4

15% of the Fund’s excess return versus its benchmark, net of the management fee

Minimum initial investment5

A$20,000

Buy / sell spread

+ 0.25% / – 0.25%

Prices and distributions

Key information

Investment guidelines

The Fund’s key investment guidelines are summarised below. For further details, please refer to the latest Product Disclosure Statement.

APIR WHT3810AU
Benchmark S&P/ASX 200 Accumulation Index
Portfolio allocation^

Australian and New Zealand equities: Typically 0 – 90%

Cash: 0 – 10%

Stock numbers Approximately 25
Suitable investor profile The Fund may be suitable for investors who are looking to outperform the S&P/ASX 200 Accumulation Index over the medium to long term and are prepared to accept the risks of the Fund set out in section 4 of the Product Disclosure Statement.
Suggested investment timeframe 5 years or more
Short selling Not permitted
Borrowings Not permitted

Investor Forms

Available Platforms
Aegis
AMP North
AMP PortfolioCare
Asgard
BT Panorama
BT Wrap
CFS FirstWrap
DPM
FNZ Group
HUB24
IOOF Pursuit
Macquarie Wrap
Mason Stevens
mFund
MLC Navigator
MLC Wrap
Netwealth
Praemium
Premium Choice
Wealth02 uXchange
Xplore Wealth (Formerly Linear Managed Accounts)

 

Ratings

 

1.The management fee is payable to the Investment Manager for managing the investments of the Fund. The management fee is calculated on the Fund’s net asset value, reflected in the daily unit price and payable monthly in arrears from the Fund.

2.Fees are inclusive of GST and of any applicable reduced input tax credits (‘RITC’).

3.The performance fee is calculated and accrued each business day and is payable quarterly, if applicable

4.The Fund’s benchmark is the S&P/ASX 200 Accumulation Index. Refer to ‘Performance fees’ information in ‘Additional explanation of fees and costs’ in the Product Disclosure Statement for further information.

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

^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 and disclosure

All website content in respect of the Firetrail Absolute Return Fund (ARSN 624 135 879),  the Firetrail Australian High Conviction Fund (ARSN 624 136 045), and the Firetrail Australian Small Companies Fund (ARSN 638 792 113) (“the Funds”) are issued by Pinnacle Fund Services Limited ABN 45 003 278 831 AFSL 235 150 (“PFSL”) as responsible entity of the Funds and is prepared by Firetrail Investments Pty Limited (ABN 98 622 377 913) (AFSL 516821) (“ Firetrail”) as the investment manager of the Funds. PFSL is not authorised to give financial product advice.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Fund, you should consider the current product disclosure statement (PDS) of the Fund which are available at https://firetrail.com/products/, and assess whether the Fund is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.

Neither PFSL nor Firetrail guarantees repayment of capital or any particular rate of return from the Fund. Neither PFSL nor Firetrail gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of Firetrail as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.

The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (WHT3810AU assigned June 2018 ) referred to in this document 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 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 https://www.zenithpartners.com.au/regulatory-guidelines-funds-research

Firetrail Australian High Conviction Fund received a Morningstar Analyst RatingTM of ‘Bronze’ on 22 October 2019. © 2019 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser.

The Lonsec Ratings (assigned as follows: Firetrail Australian High Conviction Fund – assigned July 2019, Firetrail Absolute Return Fund – assigned July 2019) presented in this document are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The Ratings are limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial products. Past performance information is for illustrative purposes only and is not indicative of future performance. They are not a recommendation to purchase, sell or hold Firetrail Investments Pty Limited products, and you should seek independent financial advice before investing in these products. The Ratings are subject to change without notice and Lonsec assumes no obligation to update the relevant documents following publication. Lonsec receives a fee from the Fund Manager for researching the products using comprehensive and objective criteria. For further information regarding Lonsec’s Ratings methodology, please refer to Lonsec’s website at: https://www.lonsecresearch.com.au/research-solutions/our-ratings