Alvia Family Office Fund
The Fund provides wholesale investors with exposure to Alvia's highest conviction ideas across all asset classes, sectors, and geographies, encompassing listed securities and private companies typically reserved for institutional or ultra-HNW investors.
Investment Highlights
The Fund was developed to provide the core principles of long-term intergenerational family office investing in one simple investment solution.
The Fund provides investors with access to a concentrated portfolio of the Manager’s highest conviction ideas, in a unitised structure, with a minimum investment amount well below the typical amount required for Alvia’s holistic asset allocation offering.
The objective of the Fund is to achieve superior risk-adjusted returns on an absolute basis with a focus on capital preservation.
The target return is 8-12% per annum, net of fees.
The strategy is unconstrained, meaning there is no geographic, sector or asset class bias. The Fund is focused on absolute returns and capital preservation, with the objective of generating attractive risk-adjusted returns for investors over the long term (considered 5 years and longer).
The Fund can invest in listed securities (Australian and International, including Exchange Traded Funds, Listed Investment Companies, and Listed Investment Trusts), unlisted managed funds and private companies (subject to the Fund's liquidity).
The Fund can take both long and short positions in order to achieve its objectives.
The Fund does not hedge currency (except natural hedges via international investments).
Derivatives may be used for hedging purposes (i.e. asset value protection).
The Fund’s investment process is principled on long-term compounding of returns from quality businesses, and not short-term speculative price forecasts. All of the Fund’s investments are subject to a rigorous five-step review process, consistent with the approach used across Alvia’s full family office investment services.
All of the Fund's holdings are categorised into five areas:
Asset Value Plays
Investments that are currently priced at a material discount to their book value or net asset value.
Cyclical Opportunities
A business that operates in an industry with earnings that are highly correlated to commodity prices and/or economic activity, where the investment team believes there is a material mispricing relative to the current stage of the economic cycle.
Long-Term Compounders
Businesses that are leaders, or one of the leaders, in their industry that have proven to consistently deliver growth in revenue, earnings and cash flow across the business cycle.
Income Buttress
Investments that have a strong and stable income profile with lower levels of price volatility. These investments tend to have a lower (or negative) correlation to typical equity and equity-like securities.
Portfolio Hedges
Investments that have a low or negative correlation to listed equities and other equity-like asset classes, to reduce the volatility of portfolio returns (for example, gold bullion or the US dollar).
The Fund is focused on compounding real returns over the long term. Alvia equates ‘risk’ to the potential of a permanent loss of capital. The Manager acknowledges that investors cannot live on institutional-minded benchmark returns and its preference is for compounding absolute returns, not relative return percentages.
The Manager’s investment process is geography, asset class, sector and index agnostic and entirely focused on delivering the best risk-adjusted long-term returns.
The Manager’s mindset is that of a private investor – it only invests in businesses that it would be comfortable owning outright.
The employees and Directors of Alvia invest in the Fund alongside external investors to ensure alignment of interests.
Alvia Asset Partners is an independent investment manager for family offices, high net-worth families and charities & foundations.
Established in 2020, with origins dating back to 2016, the firm invests across public and private markets, building long-term intergenerational wealth.
Family Office Investment Management lends itself to patient capital in search of long-term quality businesses unconstrained by traditional barriers such as geographies, sectors, benchmarks or asset class, regardless of whether they are privately owned or publicly listed. Each investment is assessed on its own merit without regard for arbitrary restrictions imposed by traditional asset managers.
Alvia's investment philosophy focuses on the principles of capital preservation and sustainable, long-term absolute return investing. This philosophy is consistently applied for both private and public markets.
Alignment with investors is paramount and therefore the partners and employees of Alvia always invest alongside clients in the same opportunities, via the same structures, paying the same fees and experiencing the same outcomes.
As the Managing Director and Chief Investment Officer of Alvia, Josh leads the Investment Team. He drives a strong moral compass, client centric attitude and has a fierce passion for getting things right.
Josh offers extensive experience in the investment management space and has studied somewhat constantly in the field over the past 20 years. Most recently Josh established the investment function at Keystone Private. Prior to this Josh worked as the Head of Private Clients at Dalton Nicol Reid. Earlier roles were with Macquarie, Goldman Sachs/JBWere and ANZ Private Bank.
Josh’s involvement in several active and successful business ventures in the health and education sectors bring a unique understanding of business to the Alvia Investment Philosophy.
Josh holds a Bachelor of Economics (Finance) degree, a Master of Applied Finance, Diploma in Financial Services, a Certificate in Value Investing from Columbia University and recently completed the Advanced Management Program at Melbourne Business School.
As a Portfolio Manager, Chris leads the analysis and portfolio management for Alvia’s Australian, international and listed property equities investments, whilst supporting the analysis of alternatives, fixed income and private investment opportunities.
Chris has over 15 years’ experience working in professional services, corporate and funds management roles in Australia and the United Kingdom. Prior to joining Alvia, Chris worked as an investment analyst at Hyperion Asset Management, a Brisbane-based equities fund manager, covering the research of Australian and international equities.
Chris holds a Bachelor of Commerce (Accounting & Finance) degree from The University of Queensland and a Graduate Diploma of Applied Finance (Corporate Finance/Advisory) from Kaplan Professional. Chris is a CFA Charterholder.
As a Portfolio Manager, James is focused on finding high quality investments across both listed and unlisted markets whilst ensuring the portfolio composition appropriately reflects the risk taken.
James previously worked with Josh for five years as an Investment Analyst, building out the Investment Function at Keystone Private Wealth, which is Alvia today.
James holds a dual degree in Commerce (Finance) and Economics (International Trade and Finance) from the University of Queensland (UQ), a Diploma in Financial Services (RG146) and is an Accredited Derivatives Advisor (ADA1).
As a Senior Investment Analyst, Daniel assists the Portfolio Managers and Chief Investment Officer across all asset classes.
Daniel has a uniquely blended background, working within start-ups, venture capital firms and listed corporations, and was the Portfolio Manager at a student lead investment fund.
Daniel holds a Bachelor of Advanced Finance and Economics (Honours) from the University of Queensland and is a CFA Charterholder.
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