Boutique equity and income manager, PM CAPITAL, has renamed its three equity funds to better communicate the funds’ investment strategies to investors.

In summary:

PM CAPITAL Absolute Performance Fund will become PM CAPITAL Global Companies Fund

PM CAPITAL Emerging Asia Fund will become PM CAPITAL Asian Companies Fund

PM CAPITAL Australian Opportunities Fund will become PM CAPITAL Australian Companies Fund

Chris Donohoe, PM CAPITAL’s CEO said, “Renaming our equity funds is a logical step to highlight to investors what it is we actually do; invest in companies.”

“At the inception of the Absolute Performance Fund in 1998, the reference to “absolute performance” simply recognised that the fund was not aligned with a benchmark; rather, investments were selectively assembled to provide capital growth based on their individual merit.”

“However, more than 15 years later, the general market perception of the term “absolute performance” has evolved into a description of “market neutral”, where a promise of low short-term volatility is offset by limited upside.”

“As fundamental stock-pickers and long term investors in businesses, this does not reflect PM CAPITAL’s investment philosophy.”

“We remain vigilant in executing our investment process with the objective of delivering long-term absolute capital growth for our investors. Our investment philosophy and process remains the same as it was at inception in 1998, and we look forward to continuing this in the many years ahead.”

The amendments for the funds, as summarised above, will become effective on the lodgement of updated constitutions and the issue of a new Product Disclosure Statement (PDS) on 13 October 2014.

Funds update:

Global Companies Fund

The Global Companies Fund has had a strong year with an 18% one year return and a 32% three year return. This has been helped by the recent fall in the AUD and the strengthening of the US economy. The Fund is currently seeking further exposure to Europe as specific opportunities arise, however the Fund is only 74% net invested indicating the level of caution the Fund is employing.

Asian Companies Fund

The Asian Companies Fund has produced a very strong three month return, 7.4%, which has been bolstered by the depreciation of the AUD, pushing the three year performance up to 18.0%. The Fund is continuing to position itself to advantage from a demographic of Asian consumers coming into wealth and westernisation.

Australian Companies Fund

The Australian Companies Fund significantly outperformed the index over the last one, three and six month due to the underweight position in the major banks and zero per cent exposure to resource stocks. The Fund has been underweight both of these sectors for some time given the longer term view of their muted growth prospects and relatively high pricing. The Fund is comprised of a small number of stock specific ideas in which it has the highest conviction, and remains cautious on the Australian outlook with a 62% net equity exposure.


PM CAPITAL Limited is a boutique Australian equity and income fund manager who manages in excess of A$1.8 Billion in funds on behalf of private clients, the clients of financial advisers and institutional investors.

For all media queries, please contact Shed Media
Peter White: 0416 041 390
Simrita Virk: 0434 531 172

October 12, 2014

PM CAPITAL appoints new names for key funds

Boutique equity and income manager, PM CAPITAL, has renamed its three equity funds to better communicate the funds’ investment strategies to investors. In summary: PM CAPITAL […]
October 9, 2014

‘Recruiting Season’ in full swing at Premium

-three new practices sign up With recruitment and trade season in full swing for many of the major football codes following the completion of the finals […]
October 4, 2014

Johan Cruz to head Premium’s compliance

Premium Wealth Management has announced the hiring of Johan Cruz from IOOF to head Premium’s compliance. Cruz is a respected and experienced compliance operative, who has […]
October 3, 2014

Trustees’ duties are often misunderstood, says SPAA

The wide-ranging responsibilities of SMSF trustees to all fund members are often misunderstood and unappreciated by their critics, says Graeme Colley, Director, Technical and Professional Standards, […]
September 26, 2014

SMSF members’ seniors health card ‘at risk’

Retirees, many of them SMSF members, are in danger of missing out on their valuable Commonwealth Seniors Health Card (CSHC) benefits following legislation that was part […]