For wholesale investors looking for country diversification and access to international small companies
FUND HIGHLIGHTS*
Unit Price
$1.1617
Total return since inception in 2015
+30.48%
Compound pa since inception in 2015
+7.71%
Recommended Investment Term
5+ Years
Fund Status
OPEN
3 Year Morningstar Rating™***
Overall Morningstar Rating™***
* Returns as at 30/06/2019
*** Ratings as at 31/05/2019
About the Fund
✓ Invests in a selection of undervalued, profitable and growing Microcaps listed in predominantly advanced economies around the world. At the time of initial investment, companies are generally below a market capitalisation of US$300 million or equivalent in the company’s local currency. ✓ Monthly liquidity; no gearing or derivatives (cash & long equities only). ✓ Microequities’ management, staff and directors have over $30m co-invested across all funds providing strong alignment with clients. ✓ For wholesale and sophisticated investors only as defined by the Corporations Act 2001
Minimum Investment
$100,000
Applications and Redemptions
Monthly
Recommended Investment Term
5 Years
In Specie Distributions
Annually
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FUND PERFORMANCE*
(*) Data as at as at 30/06/2019. (**) Fund inception on 1 December, 2015 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.
Latest Fund Updates
- June 2019
- May 2019
- April 2019
- March 2019
- February 2019
- January 2019
- December 2018
- November 2018
- October 2018
- September 2018
- August 2018
- July 2018
- June 2018
- May 2018
Investment Approach
High growth in the first world The fund invest in fast growing businesses within the first world (eg North America, Western Europe, Singapore, New Zealand, etc) Business model well understood by Microequities Companies in our Global Value Fund typically operate business models that Microequities has previously invested in. Highly undervalued companies Businesses purchased in the Global Value Fund are purchased at large discounts to their intrinsic value. Unhedged currency assets The Global Fund does not hedge its currency assets and provides investors foreign currency assets ownership. Some of the factors that may be looked at when considering an investment by the fund are:
- Companies that operate business models
- Companies generally should be at least 2 years or longer EBITDA profitable
- 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
Key Benefits of the Fund
- Highly experienced investment management team with superb track record in Microcaps
- Exposure to non AUD currency assets
- Access to undervalued, international Microcap Investment opportunities vetted by the Microequities investment management team
- Manager strongly aligned to investors with co-investment by the management team of Microequities
- In-house research expertise and capability
- Value investing philosophy with strong regards for risk management
- Bottom-up investment research based experience
- Performance based incentive for the manager
- Investments generally held for longer than 12 months thus delivering CGT benefits to unit holder