Lakehouse Global Growth Fund
The Fund’s objective is long-term capital growth and to outperform the MSCI All Country World Index focusing on mid- and large-capitalisation companies across global equity markets.
The Lakehouse Global Growth Fund focuses on investing in mid-to large-capitalisation growth companies located mainly in developed markets. The Fund is invested in some of the world’s largest growth companies using its signature long-term, high conviction approach with a core focus on asymmetric outcomes.
The Fund’s investment objective is to provide long-term capital growth and to outperform the MSCI All Country World Index Net Total Returns in AUD over rolling five-year periods (after fees and expenses but before taxes).
- A professionally managed fund with exposure to a global investment universe
- Diverse investment team with global backgrounds and perspectives
- A differentiated investment approach focused on enduring business models or ‘fascinations’ - Loyalty, Intellectual Property (IP) and Networks
- Benchmark unaware with high active share and, low turnover
- Commitment to Environmental, Social and Governance (ESG) initiatives
The Lakehouse Global Growth Fund focuses on investing in mid-to large-capitalisation global growth companies in developed markets. We’re excited to back some of the world’s great growth companies, diversify into new markets, and do it with our signature high-conviction, low-turnover style.
We’re also believers in backing our best ideas by running a concentrated strategy. The Fund will typically hold 20 to 30 high-conviction investments at a time, as we see little appeal in putting capital behind a 31st best investment idea.
Contributing to our mindset is:
1) our long-term time horizon.
2) that very few companies meet our high standards.
We also prefer to know our companies very well which better suits a concentrated strategy.
More specifically, at the position level the Fund is searching for companies that present the following characteristics:
- Strong positions in growing markets.
- Pricing power with customers and suppliers.
- Durable competitive advantages grounded in; scale, strong brands, network effects, or high customer switching costs.
- Aligned and experienced management teams with strong track records of capital allocation.
- Conservative balance sheets.
- Attractive valuations.
The Fund will typically hold 5% to 15% of assets in cash but may hold up to 20% based on the prevailing opportunity set. While the Fund will focus on mid-and large-capitalisation companies listed in developed markets, it will, where the investee company meets the attributes above, invest in companies that are listed in emerging markets or that are smaller in capitalisation.
The Fund does not invest in derivatives (including for the purposes of currency hedging), sell short, or borrow to invest.
Important Information: Equity Trustees Limited (‘Equity Trustees’) ABN 46 004 031 298 | AFSL 240975, is the Responsible Entity for the Lakehouse Global Growth Fund (‘the Fund’). Equity Trustees is a subsidiary of EQT Holdings Limited ABN 22 607 797 615, a publicly listed company on the Australian Securities Exchange (ASX: EQT). The Investment Manager for the Fund is Lakehouse Capital Pty Ltd (‘Lakehouse’) ABN 30 614 957 603 | AFSL 526842. This publication has been prepared by Lakehouse to provide you with general information only. In preparing this publication, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Lakehouse, Equity Trustees nor any of their related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accept any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product. Lakehouse Global Growth Fund’s Target Market Determination available here – www.lakehousecapital.com.au/lggf/. It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed Disclosure: Lakehouse, its directors, employees and affiliates, may, and likely do, hold units in the Fund and securities in entities that are the subject of this report.
To view the top 10 portfolio holdings please see the latest factsheet on the Fund page link below
For the latest Fund performance please visit the Fund's home page linked below
Lakehouse Global Growth Fund – Lakehouse Capital
Lakehouse Capital is a Sydney-based funds management business wholly owned by The Motley Fool Australia Pty Ltd, which launched in 2011. Our parent company, US-based The Motley Fool, was launched in 1993 and has hundreds of thousands of members worldwide.
- A boutique fund manager focused on delivering high-conviction growth equity strategies
- Established in 2016 Lakehouse has a globally experienced investment team of seven based in Sydney
- Profitable business with a strong balance sheet, managing funds with a diverse client base
Donny Buchanan is a Co-Founder, CIO, and Portfolio Manager for the Lakehouse Small Companies Fund.
He joined The Motley Fool in 2014 after 12 years of working across financial services and investment management.
Prior to joining the company, Donny established a number of direct private investments and managed a privately listed portfolio.
Previously, Donny worked with QIC’s Global Infrastructure team and as an investment analyst at CP2 (formerly Capital Partners) investing across listed and unlisted markets.
Nick Thomson is the Portfolio Manager for the Lakehouse Global Growth Fund.
Prior to assuming his current role, Nick spent several years leading the firm’s research efforts for our loyalty fascination and being actively involved in portfolio management discussions.
Previously, Nick worked at Dakota Capital as an Investment Analyst focused on private and public investments. He directly worked on the raising, deployment and management of multiple investment funds and was based in both Sydney and New York. Earlier on in his career, Nick worked for Liquid Capital as an options market maker.
Nick holds a Bachelor of Commerce (Finance Honours) from the University of Sydney.
Pooja Shirangi is a Portfolio Manager and Director at Lakehouse Capital.
In addition to leading on Lakehouse’s sustainability, ESG, engagement efforts and processes, Pooja is the strategy captain for our IP investing fascination, as well as acting as Deputy Portfolio Manager for the Lakehouse Global Growth Fund.
She has more than 15 years of experience in global equities, particularly in the consumer sector having been based across India, the UK and more recently, Sydney, Australia. Prior to joining Lakehouse Capital, her role as an investment analyst with Resolution Capital covered Australian and global real estate investment trusts in the retail sector. Previously, Pooja worked at Citi as part of a top-ranked equities research team covering the UK and European stocks. She has also analysed Indian retail and consumer goods companies early on in her career.
Pooja holds a Bachelor of Commerce and an MBA in Finance from the University of Mumbai. She is an Associate member of CPA Australia.
Monthly Factsheet
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