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For wholesale investors looking for long term capital growth

FUND HIGHLIGHTS*

Unit Price

$4.3926

Total Return since inception in 2009

+564.94%

12-month Return

+10.16%

Compound pa since inception in 2009

+25.24%

5 Year Morningstar Rating™*

FE Crown Rating

* as at 31/07/2017

About the Fund

✓ Invests in a concentrated portfolio of 15-40 hand picked highly undervalued and profitable ASX listed Smallcaps and Microcaps.

✓ Monthly liquidity; no gearing or derivatives (cash & long equities only).

✓ Microequities’ shareholders and staff members, including the investment team, own over 20% of total FUM across all investment funds.

✓ For wholesale and sophisticated investors only as defined by the Corporations Act 2001.

Minimum

$100,000

Applications &
Redemptions

Monthly

Recommended
Investment Term

5+ Years

In Specie Distributions

Annually

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fund performance vs the All Ordinaries Accumulation Index*

 1 Year3 Year5 Year7 YearTotal since inception
DVF+10.16%+16.22%+23.57%+18.98%+564.94%
All Ords Accum Index+6.62%+5.34%+10.82%+8.19%+163.66%
Outperformance+3.54%+10.88%+12.75%+10.79%+401.28%

(*) Data as at 31/07/2017.  (**) Fund inception on 6 March, 2009
Year returns are calculated as compound per annum. Returns are calculated after all fees and expenses and reinvestment of distributions. Please note that past performance is not indicative of future performance.

Investment Approach

Value driven approach
Investee companies must be highly undervalued, profitable and meet a very demanding investment criteria.

In-house investment research
All research done “in-house” by our specialist Microcap  and Smallcap investment team, independent of market noise and views.

Concentrated long-only portfolio
Portfolio of 15-40 companies with a 5 years + investment horizon.

Some of the factors that may be looked at when considering an investment by the fund are:

  • Companies with a well-established business model
  • Companies generally should be at least 2 years or longer EBITDA profitable
  • Companies with low manageable debt or no debt are preferred
  • High cash flow generating businesses
  • Companies with high earnings visibility and disclosure
  • Companies with a predictable future earnings stream
  • Companies in a growing sector
  • Companies that have a growth catalyst division, product or service
  • Companies with a highly competitive advantage or brand name
  • Companies with a stable management and track record for delivering value to shareholders
  • Companies where management has a significant stake
  • Companies with a reputable board of directors

Key Benefits of the Fund

  • Early access to potential high growth companies
  • Manager specialised in the Microcap and Smallcap asset classes for over 10 years
  • Manager with solid track record of succesful investments
  • In-house research expertise and capability
  • Value investing philosophy
  • Bottom-up investment research based experience
  • Performance based incentive for the Manager
  • Distributions may carry imputation tax credits
  • Stocks generally held for longer than 12 months thus delivering CGT benefits to Unit holder