Alvia High Conviction Fund
The Fund provides exposure to a portfolio of Alvia’s best ideas across all asset classes, sectors, and geographies. (Wholesale Investors Only)
The Alvia High Conviction Fund was born out of ongoing requests for an investment management offering which required an investment minimum much lower than that typically required to access multi-Family Office investment expertise and investment ideas.
The Fund’s objective is to deliver sustainable, long-term risk-adjusted returns with a focus on absolute returns and capital preservation. The target return is 8-12% per annum.
The Fund’s investment mandate is unconstrained, allowing for investment in listed securities (Australian and International, including Exchange Traded Funds, Listed Investment Companies, and Listed Investment Trusts), unlisted managed funds and private companies to generate abosulte returns over a medium to long term horizon.
The Fund can take both long and short positions in order to achieve its objectives.
Derivatives may be used for hedging purposes.
The Fund’s investment process is founded on the underlying principle that good investing requires a solid temperament as much as strong analysis. Investing is principled upon long-term compounding of returns 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 five asset class model portfolios.
As an illustrative example, the types of investments the fund holds can be categorised as outlined below:
Asset Value Plays
A business that is currently priced at a material discount to its 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 Compounder
A business that is the leader or one of the leaders in its industry that has consistently delivered 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 Hedge
Investments that have a low or negative correlation to listed equities and other equity-like asset classes, to reduce the volatility of portfolio returns (e.g. gold and the US dollar).
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.
As the Investment Manager, our mindset is that of a private investor – we only invests in businesses that we would be comfortable owning outright.
Alvia Asset Partners is a Brisbane-based investment manager for high net-worth families and individuals. Originally founded in 2015, Alvia has since evolved to become a truly independent asset partner for its clients.
At the heart of Alvia is a passion to ‘do things right’ and ‘get things right’. We march to our own distinctive beat and are value-driven, in both senses of the word. Our core offering is truly independent investing. We scout the globe to identify the best opportunities irrespective of their investment type or asset class and drive clear alignment by investing alongside our clients.
We have a reputation for really listening to our clients. and can offer a team who are authentic, passionate and respectful, in addition to being experts in their speciality fields.
As the Managing Director and Chief Investment Officer of Alvia, Josh leads the Investment Team to deliver on the investment needs and goals of Alvia’s clients.
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 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 10 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). James is also a Level 2 CFA candidate.
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 fund is concentrated to 20-40 holdings and targets long term absolute returns. It is recommended that an investor consider a holding period of 5 years or more.
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