Collins St Value Fund
Since inception in 2016 the high conviction, deep value and uniquely contrarian Collins St Value Fund has achieved an 13.25% p.a. net of fee return underpinned by an unconstrained Australian equities mandate and a zero fixed fee remuneration arrangement.
The Collins St Value Fund aims to preserve and grow the wealth of private investors and their families both now and for future generations. The Fund, which has delivered ~13.25% p.a. net returns p.a. since establishment in 2016, seeks to achieve this goal through a bespoke combination of patience, conviction, freedom and objectivity.
On one level, the Fund could be described as a high conviction, benchmark unaware, ‘value’ style Australian equities fund only available to wholesale investors.
However, the Fund is much more than this.
The Collins St Value Fund offers an avenue for private investors and their families to partner with a Fund Manager whose interests are genuinely aligned with those of their clients. This is achieved in two key ways.
Firstly, the Funds Management team invest in the same Fund and on the same terms as all other unit holders. As private investors in their own right, your success in the Fund will mirror their success.
Secondly, the Fund does not charge a fixed management fee against the assets of the Fund – the only fees that apply are those that are performance based and only where performance has been positive in absolute terms. This means that no matter how high the relative performance of the Fund may be (compared to an index, for example), without appreciation in the unit price no fees apply.
Exclusive reliance upon performance fees also focuses the Funds Management team to ‘stay small’ in order to provide the best prospects of superior medium, making entry into the Fund a unique and narrow window of opportunity.
- Portfolio Manager responsibilities within Australian equities since 2007.
- Bachelor of Business (Banking & Finance, Management).
- Private business interests in the retail and services industries (founding, managing and exiting).
- RG 146 Compliant.
- Portfolio Manager responsibilities within Australian equities since 2010.
- Management of a private equity portfolio since 2005.
- Private business interests within the publishing and hospitality industries (founding, managing and exiting).
- RG 146 Compliant.
- Over 30 years’ experience in financial services / funds management.
- Previous roles include Senior Analyst, Chief Investment Officer and Managing Director at investment and financial services companies.
- RG146 compliant.
- Bachelor of Arts (Economics & Political Science), Master of Business Administration (Economics, Strategy & Finance), Juris Doctor, Graduate Diploma of Financial Planning, ADA 2 Qualified in Derivatives, Graduate of the Australian Institute of Company Directors.
- Has been in financial services since 2004 across a range of financial planning, research / strategy and distribution roles within both boutique and institutional settings.
- Has lectured for and consulted to education providers at a post-graduate level in project management, governance and ethics.
The December 2023 Quarterly Report for the Collins St Value Fund discusses the concept of change as it relates to investment philosophy, research processes, portfolio construction and corporate activism. An update is also provided on the fund’s holdings in Carnarvon Energy and Link Administration Holdings.
December 2023 Quarterly Report
Download PDFIn this edition of the Collins St Value Fund quarterly report we consider the cost of long term outperformance and revisit some of our longer term holdings.
September 2023 Quarterly Report
Download PDFThe June 2023 Quarterly Report for the Collins St Value Fund discusses the importance of staying true to your research process and investment philosophy throughout the cycle as well as provides an update on our positions in Beach Energy, National Tyre & Wheel, Carnarvon Energy and Retail Food Group.
June 2023 Quarterly Report
Download PDFThe March 2023 Quarterly Report provides insights into Collins St Asset Management’s views on the importance of communication and independent ‘scuttlebutt’ alongside an update on the performance of the flagship Collins St Value Fund (brought to life with a discussion of some current positions within the portfolio).
Quarterly Report as at 31 March 2023
Download PDFThis report shares insights into the importance of clarity of purpose in complex situations and way in which it influences financial decisions, especially those relating to an investor’s ‘sell’ discipline. An overview of each of fund’s performance throughout the quarter is also provided with selected case studies on stocks such as MMA Offshore, Retail Food Group and Link Administration.
Quarterly Report as at 31 December 2022
Download PDFThe June 2022 Quarterly Report discusses the corrections and recoveries over the years, and provides our thoughts on what to look out for in turbulent markets.
Quarterly Report as at 30 June 2022
Download PDFThe March 2022 Quarterly Report discusses the importance of simplicity in investment analysis and decision making as well as some of the high conviction stock positions which lead to the +6.5% net returns for the March 2022 quarter, with a convertible note position taken in Astron (ATR.ASX) and a take-over arbitrage in Crown Resorts (CWN.ASX) as case studies.
Quarterly Report as at 31 March 2022
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Published by Collins St Asset Management Pty Ltd
Published by Collins St Asset Management Pty Ltd
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