Media Release: Avenir Capital’s Flagship Fund Opens to Retail Market

Avenir Capital, an award-winning Australian boutique fund manager, has launched a retail class of its flagship concentrated global equities fund.

The Avenir Global Fund (the Fund), is now available through Fidante Partners making the strategy accessible to retail investors.

In the five years to 30 June 2017, the Avenir Global Fund – Class I has returned over 21% per annum before fees, ranking comfortably in the top quartile of global, long-only equity managers available to Australian investors*.

Avenir seeks superior long-term (3-5 year) performance by building a concentrated portfolio of 15-30 undervalued global equity securities. Avenir’s high conviction, research-focused investment process places strong emphasis on capital preservation and investing in quality companies that it seeks to buy at a significant discount to intrinsic value.

Avenir Capital joined forces with Fidante Partners in February 2017. Fidante Partners is part of the Challenger Group, and forms long-term alliances with talented investment teams to create, support and grow specialist asset management businesses.

Avenir Chief Investment Officer, Adrian Warner said the launch of the Avenir Global Fund to retail investors was a major step in Avenir’s plans to deliver superior returns to a wider group of investors.

“Our investment philosophy and process is underpinned by our goal to materially outperform the major indices over the long-term.

We invest with a longer time horizon than many other investment managers as we believe that, given time, the underlying value of a well-chosen business will always prevail over short-term mispricing that may occur in a company’s securities. This ‘time arbitrage’ is one of the most important weapons in our armoury,” Mr Warner said.

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About Avenir Capital
Avenir Capital is a global equities investment manager and is majority owned by its staff. Avenir was founded in 2011 to apply a private equity mindset to invest in a concentrated selection of publicly listed companies with a focus on risk minimisation and long-term compounding of capital.
Avenir’s team focuses on building research-driven conviction in individual investment ideas to allow a truly long-term orientation and seek to identify opportunities others fail to see.

* June 2017 Mercer Surveys (Gross Quartile Ranking) – Overseas Shares (Australian Investors) (Long Only) Sub-universe. The net performance of the Avenir Global Fund – Class I for the same period was 15.88%, based on the existing performance fee-only fee structure with no base management fees for the Avenir Global Fund – Class I.
The Avenir Global Fund – Class I performance fee is 25.63% of the increase in net asset value subject to a High-Water Mark, provided the hurdle of 1.5% of performance over the 3 month period is met. Performance Fees are accrued monthly and payable quarterly. Net returns are calculated after fees have been deducted assuming reinvestment of distributions.
The new retail unit class will have a base management fee of 1.20% p.a. and performance fee of 15% of the Fund’s daily return (after fees and expenses and after adding back any distributions paid) above the Fund’s Performance Benchmark, being the MSCI ACWI Index (Net) in AUD. Past performance is not an indicator of future performance.