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Fidelity Australian Equities Fund – Fidelity International offers world class investment solutions and retirement expertise

Investment Objective

The investment objectives of the Fund are to achieve returns in excess of the S&P/ASX 200 Accumulation Index over the medium to long term, a core holding which invests in a diversified selection of around 30 – 50 Australian companies, uses a bottom-up stock-selection approach that focuses on undiscovered earnings potential, value and growth and to conducts regular company, factory and competitor visits to assess business strength, earnings quality and long-term growth outlook.

Approach of sustainable investing

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The approach to sustainable investing has three-fold

  1. The use of proprietary sustainability ratings, input from large specialist ESG team and external analysis and ratings to inform of a company’s ESG performance.
  2. The approach demands direct dialogue with companies and stakeholders on issues such as shareholder rights, modern slavery, supply chain management, bribery and corruption and climate change/risk. Where necessary they use proxy voting and shareholder resolutions to help improve practices.
  3. They work closely with external ESG-related bodies in Australia and around the world that seek to improve the way industries are regulated, how companies are managed, and to promote sustainable investing and social development.

Engagement is at the heart of the approach to sustainability. As active stewards of investors’ capitals that one should be making a positive impact on those companies in which one invests. The rigorous bottom-up research process means to understand ESG issues at a company level and believe that companies focused on these issues are more resilient and are more likely to perform better over the long-term.

Portfolio

Investment Team 

At Fidelity, one understands the value of connected networks. Their 400+ investment experts share their insights in real time across asset classes, sectors and regions, connected by one powerful global research platform. From London to Mumbai, Shanghai to Sydney, the unique local insights from team of more than 170 research professionals around the world to identify unique market patterns and trends and find the best global investment opportunities for you.

Fund Performance and Pricing

Past performance is not a reliable indicator of future results. The value of investments and the income from them can go down as well as up and investors may not get back the amount invested. Data shown does not take into account any Initial Charge that may apply. Fluctuations in currency exchange rates may affect the value of an investment. Please note that the shares are denominated in their respective share class currency and that the currency conversion provides an indicative price only.

About the Fund

The value of your investment may fall as well as rise and you may get back less than you originally invested. The use of financial derivative instruments may result in increased gains or losses within the fund. This fund invests in a relatively small number of companies. This can make the fund more volatile than other funds that are more diversified. There is a risk that the issuers of bonds may not be able to repay the money they have borrowed or make interest payments. When interest rates rise, bonds may fall in value. Rising interest rates may cause the value of your investment to fall.

(Source: Fidelity International and Investing.Com)

DISCLAIMER for General Advice: (This document is for general advice only).

This document is provided by Laverne Securities Pty Ltd T/as Investor Desk. Laverne Securities Pty Ltd, CAR 001269781 of Laverne Capital Pty Ltd AFSL No. 482937.

The material in this document may contain general advice or recommendations which, while believed to be accurate at the time of publication, are not appropriate for all persons or accounts. This document does not purport to contain all the information that a prospective investor may require.  The material contained in this document does not take into consideration an investor’s objectives, financial situation or needs. Before acting on the advice, investors should consider the appropriateness of the advice, having regard to the investor’s objectives, financial situation, and needs. The material contained in this document is for sales purposes. The material contained in this document is for information purposes only and is not an offer, solicitation or recommendation with respect to the subscription for, purchase or sale of securities or financial products and neither or anything in it shall form the basis of any contract or commitment. This document should not be regarded by recipients as a substitute for the exercise of their own judgment and recipients should seek independent advice.

The material in this document has been obtained from sources believed to be true but neither Investor Desk and Banyan Tree nor its associates make any recommendation or warranty concerning the accuracy or reliability or completeness of the information or the performance of the companies referred to in this document. Past performance is not indicative of future performance. Any opinions and or recommendations expressed in this material are subject to change without notice and, Investor Desk and Banyan Tree are not under any obligation to update or keep current the information contained herein. References made to third parties are based on information believed to be reliable but are not guaranteed as being accurate.

Investor Desk and Banyan Tree and its respective officers may have an interest in the securities or derivatives of any entities referred to in this material. Investor Desk and Banyan Tree do and seek to do, business with companies that are the subject of its research reports. The analyst(s) hereby certify that all the views expressed in this report accurately reflect their personal views about the subject investment theme and/or company securities.

Although every attempt has been made to verify the accuracy of the information contained in the document, liability for any errors or omissions (except any statutory liability which cannot be excluded) is specifically excluded by Investor Desk and Banyan Tree, its associates, officers, directors, employees, and agents.  Except for any liability which cannot be excluded, Investor Desk and Banyan Tree, its directors, employees and agents accept no liability or responsibility for any loss or damage of any kind, direct or indirect, arising out of the use of all or any part of this material.  Recipients of this document agree in advance that Investor Desk and Banyan Tree are not liable to recipients in any matters whatsoever otherwise; recipients should disregard, destroy or delete this document. All information is correct at the time of publication. Investor Desk and Banyan Tree do not guarantee reliability and accuracy of the material contained in this document and is not liable for any unintentional errors in the document.

The securities of any company(ies) mentioned in this document may not be eligible for sale in all jurisdictions or to all categories of investors. This document is provided to the recipient only and is not to be distributed to third parties without the prior consent of Investor Desk and Banyan Tree.

Categories
Funds Funds

Zurich Australian Property Securities Fund: is a portfolio of Australian property securities

Investment Objective

To provide investors with an income stream and capital growth over the medium to long term. The Fund aims to outperform the S&P/ASX 300 AREIT Accumulation Index over a period of five years.

Investment Process

The Fund uses a detailed and rigorous investment process with the Managers employing an active, value-based investment style, characterized by incorporating bottom-up investment research into individual securities, with a particular focus on analyzing and forecasting the present and potential future income generation of each underlying property investment. The process consists of two fundamental stages as depicted in the diagram below:

The investment objective of the strategy is two-fold: 

  1. Research – The investment team gathers information through property inspections, company visits, industry analysis, macro-economic analysis and using relevant external research (research from stockbrokers and real estate research houses), before creating financial models of each stock in detail to determine the current and potential future income and to analyse its financial condition. The outputs from the models are then used in Renaissance Property Securities’ proprietary Value Ranking Model.
  2. Portfolio Construction – In this stage the Portfolio Managers meet regularly to determine the size of the active positions to be taken in each stock. The factors which determine the size of active positions within the portfolio include the following: (1) The relative value of each security versus other securities, as determined by Renaissance Property Securities’ Value Ranking Model; (2) Stock specific risks; (3) Size and liquidity of individual stocks; (4) Portfolio risk and; (5) Strength of conviction of the portfolio managers on each individual stock recommendation.

Portfolio

Investment Team 

Zurich Investments provides exclusive access to specialist managers recognised as being amongst the best in their area of expertise. The Company appointed Renaissance Property Securities Pty Ltd (Renaissance) as the strategic investment partner for the fund in November 2005, which is owned by two experienced investment professionals who directly manage the Zurich Australian Property Securities Fund. With over 45 years’ combined experience, investors benefit from the Fund Managers’ successful track record and focused expertise in Australian property securities investing. Below are the provided the bios of Portfolio Managers.

  • Carlos Cocaro – Portfolio Manager. Carlos has over 30 years of experience in managing, analyzing, and researching listed property securities. He began analysing listed property securities in 1986 as part of Armstrong Jones’ Australian equities team and joined Rothschild Australia Asset Management in 1994 as a specialist in listed property securities analysis and portfolio management. In 1997 he was promoted to Director, heading up the growing property securities team, a position he held until he formed Renaissance Property Securities in 2003.
  • Damien Barrack – Portfolio Manager. Damien has over 20 years’ experience managing, analyzing and researching listed property companies. Damien joined Carlos Cocaro in the Rothschild property securities team in 1998 where they worked together until 2003. Damien co-founded Renaissance Property Securities in 2003.

Fund Performance and Positioning 

Asset Allocation

About Fund

The Zurich Australian Property Securities Fund is a portfolio of Australian property securities, spread across retail, commercial and industrial property sectors, with an objective to provide investors with an income stream and capital growth over the medium to long term. The Fund aims to outperform the S&P/ASX 300 Property Trusts Accumulation Index over a period of five years.

(Source: Banyantree and Investment centre)

DISCLAIMER for General Advice: (This document is for general advice only).

This document is provided by Laverne Securities Pty Ltd T/as Investor Desk. Laverne Securities Pty Ltd, CAR 001269781 of Laverne Capital Pty Ltd AFSL No. 482937.

The material in this document may contain general advice or recommendations which, while believed to be accurate at the time of publication, are not appropriate for all persons or accounts. This document does not purport to contain all the information that a prospective investor may require.  The material contained in this document does not take into consideration an investor’s objectives, financial situation or needs. Before acting on the advice, investors should consider the appropriateness of the advice, having regard to the investor’s objectives, financial situation, and needs. The material contained in this document is for sales purposes. The material contained in this document is for information purposes only and is not an offer, solicitation or recommendation with respect to the subscription for, purchase or sale of securities or financial products and neither or anything in it shall form the basis of any contract or commitment. This document should not be regarded by recipients as a substitute for the exercise of their own judgment and recipients should seek independent advice.

The material in this document has been obtained from sources believed to be true but neither Investor Desk and Banyan Tree nor its associates make any recommendation or warranty concerning the accuracy or reliability or completeness of the information or the performance of the companies referred to in this document. Past performance is not indicative of future performance. Any opinions and or recommendations expressed in this material are subject to change without notice and, Investor Desk and Banyan Tree are not under any obligation to update or keep current the information contained herein. References made to third parties are based on information believed to be reliable but are not guaranteed as being accurate.

Investor Desk and Banyan Tree and its respective officers may have an interest in the securities or derivatives of any entities referred to in this material. Investor Desk and Banyan Tree do and seek to do, business with companies that are the subject of its research reports. The analyst(s) hereby certify that all the views expressed in this report accurately reflect their personal views about the subject investment theme and/or company securities.

Although every attempt has been made to verify the accuracy of the information contained in the document, liability for any errors or omissions (except any statutory liability which cannot be excluded) is specifically excluded by Investor Desk and Banyan Tree, its associates, officers, directors, employees, and agents.  Except for any liability which cannot be excluded, Investor Desk and Banyan Tree, its directors, employees and agents accept no liability or responsibility for any loss or damage of any kind, direct or indirect, arising out of the use of all or any part of this material.  Recipients of this document agree in advance that Investor Desk and Banyan Tree are not liable to recipients in any matters whatsoever otherwise; recipients should disregard, destroy or delete this document. All information is correct at the time of publication. Investor Desk and Banyan Tree do not guarantee reliability and accuracy of the material contained in this document and is not liable for any unintentional errors in the document.

The securities of any company(ies) mentioned in this document may not be eligible for sale in all jurisdictions or to all categories of investors. This document is provided to the recipient only and is not to be distributed to third parties without the prior consent of Investor Desk and Banyan Tree.

Categories
Funds Funds

JPMorgan Global Macro Opportunities Fund- multi-asset macro thematic fund targets positive returns in various market conditions

Investment Objective

To achieve capital appreciation in excess of its cash benchmark by investing primarily in securities, globally, using financial derivative instruments where appropriate.

Investment Process

The Fund’s investment process is driven by the investment team’s proprietary macroeconomic research agenda. The process is best summarized by the diagram below. The added advantage is the investment team’s ability to leverage JP Morgan’s extensive global platform for insights and reach. The team is regularly assessing existing and new investment strategies via daily meetings, weekly macro discussion, monthly core views updates and then also a quarterly strategy summit. 

A macro theme must be sufficiently different to existing themes already in the portfolio and the team needs to be able to measure the trends of changes it captures.

Investment strategy. A strategy can be sourced from anywhere including the investment team or JP Morgan’s broader global investment network. Each recommended strategy has a clearly defined macro-theme. The team categorizes each strategy into two broad categories – Traditional (e.g. long-only exposure) and Sophisticated (e.g. derivatives, directional).  

Portfolio construction and management

Portfolio Construction & Management. The lead portfolio manager has the ultimate decision-making power on which investment strategies are included in the portfolio, the team does generally tend to follow a consensus approach. The portfolio can have exposure across all major asset classes – equity, fixed income, commodities, currency and advanced derivatives – and exposure to both developed and emerging markets. The portfolio at any one time is expected to be made up of 6 to 10 macro-economic themes, which can equate to between 20 – 40 strategies. This means the overall portfolio can hold at any one time, typically, 100-150 securities. While monitoring the macro is continual, much of the macro debate is at a monthly meeting, where the teams might discuss risks to their core theses and potential paths of evolution in the macro landscape, as well as making changes to the macro themes, including removing or adding a new theme.

Investment Team 

Shrenick Shah: Shrenick Shah, managing director, is head of the Macro Strategies team at J.P. Morgan Asset Management, based in London. An employee since September 2010, Shrenick previously worked in the equity divisions at Deutsche Bank and Credit Suisse. Shrenick obtained a M.Sc. in Econometrics and Mathematical Economics from the London School of Economics.

Benoit Lanctot: Benoit Lanctot, Executive Director, is a portfolio manager in the Macro Strategies team, based in London. An employee since July 2011, Benoit previously worked as a senior analyst in the Convertible Bond team within Multi-Asset Solutions, responsible for the implementation of the fundamental analysis framework with global coverage. Prior to that, Benoit worked in investment banking for the Diversified Industries Group of Scotia Capital Inc. based in Montreal, Canada. He obtained a B.BA with a major in Finance from HEC Montreal and a Masters in Finance from London Business School. Benoit is a CFA and a CAIA charter holder. 

Josh Berelowitz: Josh Berelowitz, executive director, is a portfolio manager in the Macro Strategies team, based in London. An employee since September 2011, Josh has been focused on the macro portfolios since inception of the strategy in November 2012. Josh obtained a B.Sc. in Economics from the University of Nottingham and is a CFA charter holder.

Virginia Heriz: Virginia Heriz, executive director, portfolio manager in the Macro Strategies team, based in London. An employee since November 2019, Virginia previously was a portfolio manager at Aberdeen Standard Investments where she was responsible for tactical asset allocation portfolios and segregated multi asset mandates. Prior to that, Virginia was an analyst covering global financials at Martin Currie Investment Management. Virginia has a Diplôme d’Ingénieur from the École Nationale Supérieure des Telecommunications, Paris and a Masters in Telecommunications Engineering form the Universidad Politécnica de Madrid. 

Fund Performance and Positioning 

About Fund

The Fund employs a macro-thematic investment framework to achieve capital appreciation in excess of its cash benchmark by investing primarily in global securities, with the ability to use financial derivatives. The Fund targets +7.0% p.a. annualized over the medium term (net of fees) and/or above the Bloomberg AusBond Bank Bill Index, with a volatility of less than 10% p.a.

(Source: Banyantree and Investment centre)

DISCLAIMER for General Advice: (This document is for general advice only).

This document is provided by Laverne Securities Pty Ltd T/as Investor Desk. Laverne Securities Pty Ltd, CAR 001269781 of Laverne Capital Pty Ltd AFSL No. 482937.

The material in this document may contain general advice or recommendations which, while believed to be accurate at the time of publication, are not appropriate for all persons or accounts. This document does not purport to contain all the information that a prospective investor may require.  The material contained in this document does not take into consideration an investor’s objectives, financial situation or needs. Before acting on the advice, investors should consider the appropriateness of the advice, having regard to the investor’s objectives, financial situation, and needs. The material contained in this document is for sales purposes. The material contained in this document is for information purposes only and is not an offer, solicitation or recommendation with respect to the subscription for, purchase or sale of securities or financial products and neither or anything in it shall form the basis of any contract or commitment. This document should not be regarded by recipients as a substitute for the exercise of their own judgment and recipients should seek independent advice.

The material in this document has been obtained from sources believed to be true but neither Investor Desk and Banyan Tree nor its associates make any recommendation or warranty concerning the accuracy or reliability or completeness of the information or the performance of the companies referred to in this document. Past performance is not indicative of future performance. Any opinions and or recommendations expressed in this material are subject to change without notice and, Investor Desk and Banyan Tree are not under any obligation to update or keep current the information contained herein. References made to third parties are based on information believed to be reliable but are not guaranteed as being accurate.

Investor Desk and Banyan Tree and its respective officers may have an interest in the securities or derivatives of any entities referred to in this material. Investor Desk and Banyan Tree do and seek to do, business with companies that are the subject of its research reports. The analyst(s) hereby certify that all the views expressed in this report accurately reflect their personal views about the subject investment theme and/or company securities.

Although every attempt has been made to verify the accuracy of the information contained in the document, liability for any errors or omissions (except any statutory liability which cannot be excluded) is specifically excluded by Investor Desk and Banyan Tree, its associates, officers, directors, employees, and agents.  Except for any liability which cannot be excluded, Investor Desk and Banyan Tree, its directors, employees and agents accept no liability or responsibility for any loss or damage of any kind, direct or indirect, arising out of the use of all or any part of this material.  Recipients of this document agree in advance that Investor Desk and Banyan Tree are not liable to recipients in any matters whatsoever otherwise; recipients should disregard, destroy or delete this document. All information is correct at the time of publication. Investor Desk and Banyan Tree do not guarantee reliability and accuracy of the material contained in this document and is not liable for any unintentional errors in the document.

The securities of any company(ies) mentioned in this document may not be eligible for sale in all jurisdictions or to all categories of investors. This document is provided to the recipient only and is not to be distributed to third parties without the prior consent of Investor Desk and Banyan Tree.