Sydney-based specialist equity fund manager, PM CAPITAL, today said that its flagship Absolute Performance Fund has received a Recommended rating from investment research house, Zenith Investment Partners. The rating is an upgrade from the previous Approved rating and is one of only four global long/short funds with a recommended or higher rating from Zenith.
The report from Zenith supported the high conviction and true benchmark unaware investment philosophy of PM CAPITAL.
“In Zenith’s opinion (Paul)Moore is one of a small group of premier fund managers who has demonstrated the ability to generate attractive returns for investors over a career spanning more than 25 years… which in Zenith’s view positions him well to deal with both downward market conditions as well as rising market environments”
Zenith added, “(Ashley) Pittard is also highly regarded by Zenith and displays outstanding knowledge of stocks.”
The Fund was established in October 1998 by founder Paul Moore who has over 25 years investment experience and Ashley Pittard who has over 14 years industry experience.
In its report, Zenith said “[We] believe one of the key attractions of the Fund is its high conviction investment approach where it does not spend any of the portfolio’s risk budget on stocks where is has no conviction and uses volatility as an opportunity to enter attractive stocks at reasonable valuation. This is not always the case with benchmark unaware managers, which often seek to protect relative performance to ensure they do not underperform their peers by too great a margin.”
Chris Donohoe, CEO at PM CAPITAL said: “PM CAPITAL is very pleased to have secured this rating. We are very proud of our long-term investing style, which guides the viagra vs cialis reviews investment philosophy at PM CAPITAL. This philosophy that has not changed in the last 15 years and will remain unchanged; irrespective of the ferocity of short term market noise or external constituent”.
Mr Donohoe was promoted to CEO of PM CAPITAL in 2009 to allow Paul Moore to prioritise his time towards the investment management side of the business, a move Zenith endorsed in the report.
Zenith also commented positively on other changes within the business including, the appointment of Tim McGowen as the Options and Protection Strategist, “Zenith believes that the addition of McGowen as risk manager http://viagra24onlinepharmacy.com/ assists in reducing the risk of the Fund… and believes that his strong risk management track record will add significant value to the Fund.”
Zenith commented that the change in equity ownership of the business following the purchase of outstanding shares of former employees and the Lowy family. This means every member of the team now holds equity in the business was said to be a ‘key strength’, ‘pleasing’ and ‘cultivated team stability’.
The Fund’s ‘truly active’ contrarian approach aims to provide long-term capital appreciation for Australian investors by investing in a concentrated selection of international equities.
As at 31 August 2013, the Fund had achieved a 12 month return after fees of 66.1%; a 29.6% excess return compared to benchmark, the MSCI Global Equity index. The Fund has achieved a 7.6% p.a. return after fees since inception in 1998 compared to the 1.7% p.a. return of the index over the same period.
PM CAPITAL is a Sydney based equity and income cialis and bph fund manager who manages in excess in A$1 Billion in funds on behalf of private clients, the clients of financial advisers and institutional investors.