Greencape Capital: rated highly by three ratings agencies
Boutique Australian equities fund manager, Greencape Capital, has received two ratings upgrades for its high conviction and broadcap funds.
Both the the Greencape wholesale high conviction fund and the Greecape wholesale broad cap fund were upgraded from ‘recommended' to ‘highly recommend', by ratings house, Zenith Investment Partners.
The funds had also previously received a ‘highly recommended' rating from Lonsec in October 2015 and a gold rating from Morningstar in September 2015, the fund said.
The team, based in Melbourne, was focused on hands-on, fundamental research and active management of Australian equity portfolios. It had over $6 billion in funds under management.
Greencape portfolio manager, David Pace, said the ratings were a testament that they had outperformed every year since inception in 2006.
The Greencape wholesale high conviction fund held between 15 and 40 stocks and aimed to outperform the benchmark over three rolling year periods. It delivered 3.65 per cent per annum, (net of fees) and outperformed the S&P/ASX 200 Accumulation index since 2006, the fund manager said.
Meanwhile, Greencape wholesale broad cap fund held between 45 and 70 stocks, with large, mid and small market capitalisations. It delivered 3.81 per cent per annum (net of fees) since inception in 2006, and outperformed the S&P/ASX 300 Accumulation index.
Recommended for you
There is one specific risk that is a significantly higher concern for financial services directors compared to companies overall and is impacting their risk appetite, according to the AICD.
Global fund managers are shunning bonds, with the asset class seeing the largest drop in allocations in more than 20 years.
Australian Ethical has seen its funds under management reach $10 billion, driven by organic customer growth and superannuation contributions.
Financial advisers will have access to private equity investments run by WTW for the first time as it launches a pooled fund to provide savers with access to traditionally institutional assets.
