Pengana Alpha Israel Fund
The Pengana Alpha Israel Fund invests in listed Israeli companies that produce cutting edge – both high and low tech – technologies, have developed solid intellectual property coupled with strong global distribution (for Wholesale Investors only)
The goal of Pengana Alpha Israel Fund is to achieve long-term capital growth by investing in Israeli and Israeli-related companies, generating returns that consistently outperform the relevant benchmarks. Returns are not guaranteed.
The Fund employs currency hedging at the Portfolio level and the Class level.
Investment approach
The Funds investment strategy is based on fundamental and comprehensive research of Israeli companies predominantly listed in Israel or overseas. The Fund will:
- Focus on Israeli high-growth industries that have a competitive technological, product or market advantage;
- Typically invest in mature small/mid-cap companies;
- Implement a Private Equity investment approach in listed companies – seeking under-the-radar companies with low analyst coverage and best-in-class management;
- Employ a fundamental focus with an emphasis on free cash flows enabling consistent dividend payouts;
- Access private pre-IPO securities with lucrative growth potential.
Investment Strategy
The Fund will seek to exploit the Israeli high-tech edge through an investment process that takes advantage of the Portfolio Manager's experience across the technology sector. Investments will range from high-tech to industrial companies with a distinct technology advantage. While the Fund will seek investments in companies with strong growth potential, valuations are paramount.
Types of investments
The Fund will obtain exposure to Israeli and Israeli-related securities through a concentrated portfolio of approximately 30 companies with a focus on Israeli high-growth industries that have competitive technological, product or market advantages.
The Fund will typically invest in mature small to mid-cap companies.
The Fund may hold a substantial proportion of its assets in cash or cash equivalents, may invest in securities which are expected to be listed within 6 months of being acquired, and may use derivatives to hedge market risks.
Top Holdings can be viewed here
Latest Fund performance can be viewed here
The Alpha Group was founded in 2005 and is one of the pre-eminent equity fund managers in Israel. Alpha’s portfolio managers have established strong reputations and have many years of experience investing in equity markets.
Michael co-founded Alpha in 2005. In his previous roles, he was the CEO of Tamir Fishman Mutual Funds from 2003 to 2005. From 1996 to 2003 Michael was the CEO of Evergreen Mutual Funds and founded the first High-Tech Mutual Fund in Israel. Prior to that, Michael was an Investment Manager specialising in technology and small companies at Analyst Investment Limited.
Gabi Dishi co-founded Alpha in 2005. His prior experience includes being a portfolio manager at Tamir Fishman Asset Management, and a corporate and high net worth advisor in capital markets. Gabi is a Board Member of Babylon Technologies (an Israeli public company).
Gabi has a BA from Tel Aviv College and an MBA from Bar Ilan University.
Sagi joined Alpha in 2017. His prior experience includes positions as Director of Marketing and Sales at Tamir Fishman Asset Management and founder and partner at Profound Investment House. In his last position from 2012 to 2017, Sagi was the Executive Director of the United Israel Appeal fundraising arm in Sydney Australia.
Sagi has a BA from the American University of Paris (AUP).
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