Avenir Global Fund

About the Fund

The Fund has a concentrated portfolio which allows Avenir’s best ideas to drive performance. The Fund’s turnover is relatively low as we exercise discipline and patience in identifying and selecting investments. The Fund may hold up to 30% of its net assets in cash which enables Avenir to reduce risk of capital loss and offers significant flexibility to patiently invest in our highest conviction ideas. Avenir seeks to invest with a long-term time horizon, as we believe, 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.

Investment Strategy

Avenir seeks superior long-term performance by building a concentrated portfolio of what we believe to be undervalued equity securities. Our high-conviction, research focussed investment process places strong emphasis on capital preservation, and identifies and exploits market inefficiencies to identify what we believe are the most attractive investment opportunities.

Fund Facts

Avenir Global Fund

Investment Objective To generate superior risk-adjusted investment returns over the medium to long-term by investing through a concentrated portfolio of high-quality global equity securities.
Investment Parameters Long international equities; up to 30% cash; no leverage or shorting employed.
Target Number of Securities 15 – 30
Region Focus International
Investment Strategy Fundamental, value oriented and special situations equity investments on Australian and international markets.
Investment Style Value
Target Holding Period 5 years
Reporting Quarterly investor letter; monthly performance report
Applications/Redemptions Daily / Daily
Management Fee 1.20% p.a.
Performance Fee 15% of the Fund’s daily return (after fees and expenses and after adding back any distributions paid) above the Fund’s Performance Benchmark.
Performance Benchmark MSCI All Country World Net Index in AUD

Avenir Global Fund - Class I

Investment Objective To generate superior risk-adjusted investment returns over the medium to long-term by investing through a concentrated portfolio of high-quality global equity securities.
Investment Parameters Long international equities; up to 30% cash; no leverage or shorting employed.
Target Number of Securities 15 – 30
Region Focus International
Investment Strategy Fundamental, value oriented and special situations equity investments on Australian and international markets.
Investment Style Value
Target Holding Period 3 – 5 years
Reporting Quarterly investor letter; monthly performance report
Applications/Redemptions Monthly / Quarterly
Management Fee nil
Performance Fee 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 a 3 month period is met. Performance fees are accrued monthly and payable quarterly.
Performance Benchmark MSCI All Country World Net Index in AUD