Glenmore Australian Equities Fund
The Fund is a long only, growth focussed fund that aims to invest in high quality ASX listed businesses that can generate strong earnings growth leading to stock price appreciation.
The Glenmore Australian Equities Fund seeks to invest in quality companies generating strong cashflows at attractive valuations. The limited fund size allows significant investment flexibility with the aim of generating investors’ excess returns.
The Fund has a diversified portfolio of Australian equities and is index unaware with an absolute return focus. The Fund aims to generate strong absolute returns over the medium to long term.
There is a high level of investment transparency and liquidity with monthly unit pricing, subscription and redemption.
Glenmore will use a fundamental, research driven investment process. We aim to identify shares that we believe are undervalued and are likely to rise in price.
The main driver of identifying potential investments will be bottom up company analysis, however macro-economic conditions will be considered as part of the investment thesis for each stock.
New stock ideas can come from a wide range of sources, such as reading annual reports, company announcements, conference calls, industry reports, media articles, attending investor conferences, analysis of other stocks and broker research.
An extensive travel program is expected to provide opportunities to observe the operations of a range of businesses firsthand, which can often generate investment ideas. Glenmore believes regular meetings with company representatives is a superior way of gaining insight compared with group presentations or conference calls.
Quantitative screens will also be used as a tool to potentially identify stocks trading at cheap valuations.
- Once a stock has been identified for further analysis, detailed fundamental analysis is undertaken, with the key question being “What is the intrinsic value of the stock?”
- Stocks will be valued using a combination of measures including discounted cash flow analysis, price/free cash flow, price/earnings, Enterprise Value/EBITDA, and dividend yield.
- Other key factors include:
- Glenmore’s view on the likelihood of the company having scope for positive earnings revisions, as this is a key driver of the direction of stock prices.
- The level of free cash flow generation of the company
- The ability of the company to reinvest free cash flow at attractive rates of return
- In addition to identifying stocks from a “bottom-up perspective”, Glenmore will also seek to identify any macro factors and trends affecting a company.
Portfolio Construction
- Stocks that are candidates for inclusion in the portfolio are ranked in order of forecast total return. This quantitative ranking is then used as the key generator of potential stocks for the Fund, however qualitative factors are also considered where relevant.
- Stocks with the strongest combination of valuation upside and qualitative factors will be used as the basis for portfolio construction.
- The process is fluid and as valuations of stocks, company-specific factors and general economic conditions change, stock weights in the fund will be adjusted accordingly.
- It is envisaged the Fund will be relatively concentrated to ensure the Fund benefits from the highest conviction stock ideas, while maintaining appropriate risk controls.
Key attributes of stocks held by the fund
- Outstanding companies with sustainable business models
- Businesses that generate above-average returns on invested capital
- Businesses with recurring revenue, low capital spending needs, and strong Free Cash Flow generation
- Businesses with scope for positive earnings revisions relative to consensus forecasts
- Driven senior management teams who are skilled in capital allocation
Click here to view the latest Performance Details.
Glenmore Asset Management Limited (“Glenmore Asset Management”), [ABN 87 608 172 014 AFSL 485588] believes the statements contained on this website to be reliable. However, the information on this website is general in nature and does not take into account your personal circumstances, financial needs or objectives. Statements contained on this website are not general or personal advice and should not be considered as a recommendation in relation to an investment in the Fund or that an investment in the Fund is a suitable investment for any specific person. You should seek independent financial advice and read the relevant disclosure document prior to acquiring a financial product.
Glenmore Asset Management, its directors and employees do not accept any liability for the results of any actions taken or not taken on the basis of information contained on this website, or for any negligent misstatements, errors or omissions.
Glenmore Asset Management is a specialist Australian Equities Investment Manager established in 2017 and based in Melbourne, Australia.
Glenmore Asset Management is focused on generating strong absolute returns for our investors over the medium to long term. Glenmore Asset Management is the holder of AFS licence number 485 588 and is Trustee and Investment Manager for the Glenmore Australian Equities Fund.
Glenmore was founded by Robert Gregory, who has over 20 years of experience in the Australian equities markets. Robert is a substantial investor in the Fund.
Robert has over 20 years of experience in the Australian equities industry working in both equity research and funds management. Robert was previously Portfolio Manager of the CBG Australian Equities Fund, a leading boutique fund manager based in Sydney, Australia. In this role, Robert had responsibility for both stock research and overall portfolio construction.
During Robert’s tenure at CBG Asset Management, the CBG Australian Equities Fund was consistently ranked in the top quartile of investment returns (Australian equities category) of the Mercer Investment Survey. In addition, the Fund was awarded the Best Boutique Australian Equities Manager in 2013 at the Australian Fund Manager Awards.
Robert oversaw the company’s funds obtaining ratings from major investment consultants such as Lonsec, Van Eyk and Independent Investment Research.
Prior to joining CBG Asset Management in 2007, Robert worked at Linwar Securities and Morningstar Equities Research in equity analyst roles covering a range of industrial stocks.
Robert has a Bachelor of Commerce (Honours) from the University of Melbourne and has a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia.
Click here to view our monthly newsletter.
- By clicking the enquire button on the card view
Or
- By selecting “Receive Info” when viewing the listing
We will respond using your preferred communication method (i.e., email or phone).
Statutory Statement
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.
General Disclaimer
IMPORTANT STATEMENT ABOUT YOUR USE OF THIS SITE
Information on this site is intended for Australian users only.
This site is operated by Investment Markets (Aust) Pty Ltd. (ACN 634 057 248) (IMA, we, us and our), the holder of Australian Financial Services Licence (AFSL) no. 527875. The content is provided solely for information purposes, is not a recommendation or an offer to buy or sell a security, and is not warranted to be correct, complete or accurate. To the extent permitted by law, neither IMA, its affiliates, nor the content providers (such as the issuers of securities who appear on the site) are responsible for any investment decisions, damages or losses resulting from, or related to, the content, data and analyses or their use. The investment products on this site and any statements made about them by their issuers are not vetted, verified or researched by IMA. The presence of an investment product on this site should not be interpreted as an implied endorsement of it by IMA. Certain content provided may constitute a summary or extract of another document such as a Product Disclosure Statement. To the extent any content is general advice, it has been prepared by IMA. Any general advice has been provided without reference to your investment objectives, financial situations or needs. For more information refer to our Financial Services Guide. To obtain advice tailored to your situation, contact a financial advisor. You should consider the advice in light of these matters and, if applicable, the relevant Product Disclosure Statement (or other offer document) before making any decision to invest. Past performance does not necessarily indicate an investment product’s future performance. The content is current as at date of initial publication and may not be current as at your date of viewing. For a more complete understanding of all the terms and conditions of your use of this site click here.