The ASF aims to provide Eligible Investors with access to a portfolio of ASX listed equity securities outside the S&P/ASX 100 Index. The portfolio may also have some exposure to ASX listed securities and global companies. (Wholesale Investors Only)
| 1 month | 3 month | 1 year | 3 year | 5 year | Since Inception | Inception Date |
|---|---|---|---|---|---|---|
| -0.19% | -6.92% | 12.68% | 9.31% | 8.27% | 9.08% | 21 Apr 2016 |
| Management Fee | Performance Fee | Morningstar Total Cost Ratio |
|---|---|---|
| - | - | 4.5% |
The Affluence Small Company Fund aims to provide eligible investors with access to a portfolio of Small Companies primarily through unlisted managed funds. We define ASX Small Companies as all ASX listed equity securities outside the S&P/ASX 100 Index. The portfolio also includes an allocation to ASX listed investment companies and may have some exposure to other ASX listed securities and global companies. The Underlying Managers use a range of different investment styles and investment strategies.
Small companies typically have little analyst coverage, as institutions are unable to deploy meaningful amounts of capital and therefore cannot justify investing in research. This means many smaller companies are under-researched or relatively undiscovered. This can give rise to situations where they trade well below their intrinsic value. Smaller
companies also tend to have more opportunities to grow faster than their larger counterparts, which can further improve long term returns.
The Fund aims to outperform the ASX Small Ordinaries Index over rolling 5-year periods and to deliver these returns with less volatility than the index.
Portfolio Use
The Fund is designed to be used as a smaller part of an investment portfolio for those investors seeking Capital Growth and Income Distributions with a longer investment timeframe, at least a High risk/return profile and needing access to capital monthly or less often.
Access to Differentiated Strategy
The Fund provides access to a wide range of small companies that may complement investors' portfolios.
Click here to view our latest Performance.
The Fund has outperformed its benchmark (ASX Small Ordinaries Index) with lower volatility since inception.
As will all investments, the Fund is subject to risks. The value of an investment will go up and down over time, the Fund’s returns will vary, future returns may differ from past returns, and returns are not guaranteed. This means that there is always the chance that you could lose money on an investment in the Fund.
The Affluence Small Company Fund aims to invest primarily in ASX Small Companies (those outside the ASX100 Index). We believe there is more opportunity for smaller companies to grow their earnings. As they grow, price-earning multiples can also increase. We also believe it is easier for talented specialist investment managers to find mispriced opportunities in this sector.
The Fund invests in ASX Small Companies directly and via specialist boutique investment managers.
The Fund aims to provide the following:
The investment objective is a target only and returns from the Fund are not guaranteed. We believe that ASX Small Companies represent an attractive investment opportunity. But they can also be volatile and fall more than other investments in severe market downturns.
AFM seeks to achieve the Fund’s investment objective by choosing attractively priced investments overseen by quality Underlying Managers. We use a number of processes to identify potential investments, including screening for historical performance, volatility and other criteria. We use many information sources to assist in this process.
An investment assessed as having potential for inclusion in the portfolio must pass through a number of hurdles. These include an analysis of historical performance, due diligence, a review of key service providers and a qualitative assessment of the Underlying Manager and their investment style.
In assessing suitable investments, AFM will place particular emphasis on the factors displayed below. If the outcome of these processes is positive, the investment is considered acceptable for inclusion within the investment portfolio. Underlying Managers and investments chosen for the portfolio need not meet all the below criteria, and some criteria carry higher weightings than others.
When making an assessment, AFM gives greater weight to qualitative factors than quantitative factors. This invariably means there is a degree of subjective judgment involved.
This information has been prepared by Affluence Funds Management Limited ABN 68 604 406 297 AFS licence no. 475940 (Affluence) as general information only in relation to the Affluence Small Company Fund (Fund). It does not purport to be complete and it does not take into account your investment objectives, financial situation or needs. Prospective investors should consider those matters and read the Information Memorandum (IM) offering units in the Fund before making an investment decision. The IM contains important notices and disclaimers, important information about the offer, as well as investment risks. Any forecast or projected information, including financial, is not guaranteed and there is no guarantee of any distribution, investment return or repayment of capital. This information and the information in the IM is not a recommendation by Affluence or any of its officers, employees, agents or advisers and potential investors are encouraged to obtain independent expert advice before any investment decision. The offer to invest in the Fund is only available to persons who qualify as wholesale clients (as defined in section 761G(7) of the Corporations Act) or sophisticated investors (as defined in section 761GA of the Corporations Act) (collectively, Eligible Investors). Affluence will not issue units in the Fund to a person unless it is satisfied the person is an Eligible Investor.
Performance data for the Fund is expressed net of fees and costs (excluding the buy-sell spread). Performance calculations assume the reinvestment of distributions. Returns for periods of more than 1 year are annualised. Past performance is not indicative of future performance. The inception date of the Fund is 1 April 2016.
The Fund aims to pay distributions of approximately 5% pa paid quarterly. Distributions are not guaranteed and may be paid above or below this amount.
Affluence was formed to provide better investment solutions. We believe in doing things differently.
Our focus is on delivering superior long-term investment performance and providing quality education and investment ideas for our Investors.
We are contrarian, value-focused, and invest for the long term. We believe exposure to quality investments across multiple asset classes, managers, geographies and strategies should be a fundamental building block of any well-diversified portfolio.
We pride ourselves on the quality of our products and alignment with our investors. We were the first investors in each of our Funds and a significant proportion of our own and extended families' wealth is invested in our Funds.
We believe managing less money than average provides us with significant advantages. So while we don’t aim to be one of the biggest managers, we do aim to be one of the best.
Daryl and Greg are the key persons managing the Fund. Both Daryl and Greg spend the majority of their time managing the investment portfolios of the Fund and other AFM-managed funds.
Daryl has overall responsibility for investment and funds management activities at AFM. Daryl was responsible for setting up the Fund in late 2014 and is co-manager of the Fund's investment portfolio.
Daryl has experience across all aspects of funds management including investment, operations and capital raising.
Prior to forming AFM, Daryl was a Director of Cromwell Property Group, an ASX-listed property and fund manager, for over 15 years.
From 2008 until 2015, Daryl was responsible for Cromwell’s unlisted fund's management business, which created and managed investment funds worth over $1 billion and delivered impressive returns for the thousands of investors in these funds.
Daryl holds a Bachelor of Commerce, a Diploma of Financial Planning and is a member of the Institute of Chartered Accountants.
Greg joined AFM in 2015. Greg is the co-manager of the Fund investment portfolio. He is primarily responsible for analysing new investment opportunities, asset allocation, fund analysis, performance reporting, and investment management.
Prior to joining AFM, Greg was employed by Cromwell Property Group for over 9 years. During this time, he held a range of positions including fund analyst, transactions analyst and investment strategist.
Greg holds a Bachelor of Applied Science (Property Economics).
Click here to view our latest Fund Report.
Click here to view our past Fund Reports.
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No. Investment in the Fund is restricted to Eligible Investors. We hope to make the Fund available to all investors in the future. If you are not currently eligible, you can still sign up here to become an Affluence Member. You will receive articles and our best investment ideas. In addition, Affluence Members will receive priority notification and an exclusive investment offer should the Affluence Small Company Fund become available to you in the future.
The minimum initial investment amount is $20,000. You can add additional amounts later from as little as $1,000. Applications are processed monthly. Application funds awaiting processing are held in a trust account.
Yes, you can lodge a withdrawal request at any time. Withdrawals are generally processed monthly and paid out within 10 business days after the end of the month, although we reserve the right to process these less frequently in exceptional circumstances.
The Fund aims to provide you with a minimum distribution yield of 5% per annum, paid quarterly. Generally, distributions will consist of a share of the income and franking credits the Fund receives during the year from its investments, plus any taxable capital gains from sales of investments, less costs (including our performance fees).
Distributions are generally paid 10 days after the end of each quarter. Distributions are paid to your nominated bank account or can be reinvested if you wish.
Partly. The Fund distributes all franking credits received to investors at the end of the tax year. Franking credits are usually distributed in proportion to distributions paid during the year. So, if you were only an investor for part of the year, you will receive a lower proportion of franking credits than if you were invested for the full year. See here for the full distribution and franking history of the Fund.
You will receive a monthly report outlining the Fund portfolio and performance, quarterly distribution advice, annual investment statements, and an annual tax statement with details of the amounts to be included in your tax return.
Affluence does not charge any fixed fee for managing the Fund. Instead, we charge a performance fee of 12.5% of the Fund’s positive returns (after recovering any previous negative performance). Affluence also recovers certain costs from the Fund. These cost recoveries are generally capped at 0.25% of the net assets of the Fund per annum. The Underlying Managers the Fund invests with also charge fees for their services. Other costs are also payable. These fees and costs are not paid by you directly but are paid out of the assets of the Fund. All Fund performance numbers shown are after allowance for these fees and costs. You may also pay fees to a financial advisor or investment platform operator if you invest through them. These fees are not paid to Affluence or the Fund. Please refer to the IM for more information about fees and costs.
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This offer of scheme interests is available to wholesale clients only. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets (Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
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