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The Australian Growth Fund gives you access to invest in quality, growing Australian businesses. The Australian market is deeper and broader than in New Zealand, which provides numerous opportunities to invest in great businesses. Being such a broad market with so many investment opportunities means some companies are often poorly researched and not well understood by the market. The outcome of this is that high quality companies can trade below their inherent value. Our team making investment decisions are well informed and spend their time conducting their own research on this market.
Why Australian shares?
There is a lot of diversity in the products and services that companies in the Australian market offer. Because of the population size,the growth path for Australian companies can be smoother than in New Zealand. This is important as it provides these companies a broader growth opportunity domestically, before they need to consider the challenging step of exporting their business model to chase growth.
Growth of $10,000 invested in the fund since inception
** S&P/ASX Small Industrials Index (Inception to 31/1/2012), S&P ASX 300 Industrials ex top 20 70% hedged to NZD (1/2/2012 - 31/3/2015), S&P/ASX 200 70% hedged (1/4/2015 to now)
In the portfolio holdings below you will find a diverse range of companies. Some of these will be brands you know well, and others may be new to you. The companies we invest in range from banks and fast food brands, to companies in the healthcare and tech sectors.
The Australian Growth Fund returned +3.7% (net) in October, ahead of the +1.3% return for the ASX 200 Index (70% hedged into NZ$).
After lagging the market for much of the year, wellbeing software provider Limeade (+33% in A$) delivered a credible quarterly result in the month. The company added three new customers during the quarter and expanded the use of its software in one of its largest customers. Limeade also upgraded its profit guidance. Link Administration (+28%) received an indicative takeover proposal from a private equity consortium. Although there is no guarantee that a formal takeover offer will be made to shareholders, the Link Board has engaged with the suitors, and permitted due diligence to be undertaken.
Nanosonics (-9.3%) continues to see a recovery in demand for its disinfection products across its hospital customer base. That said, the resurgence in COVID cases in the US and European markets (and potential for disruption for hospitals) may have weighed on the share price during the month. Brambles (-8.6%) share price also fell, albeit there was no substantive news related to the company.
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