WaveStone launches new fund
Fund manager WaveStone Capital has launched a new product - the WaveStone Wholesale Australian Share Fund.
Announcing the launch this week, the fund manager said the product was a long-only fund designed to capture increasing demand for quality and growth-styled portfolios.
WaveStone is an Australian and New Zealand-focused equities manager established by three majority-owned principals - Ian Harding, Graeme Burke and Catherine Allfrey - and adopts an active, bottom-up investment approach. The new fund aims to outperform the S&P/ ASX 300 Accumulation Index over rolling three-year periods.
According to Allfrey, the launch of the new-style product into the institutional investment market will be driven by WaveStone Capital's attraction to innovative and high-growth stocks at reasonable prices.
"Over the past 15 years, the principals have refined the investment philosophy via the establishment of the WaveStone Absolute Return Fund, then the Dynamic Australian Equity Fund - to great success, and the same approach will now be applied to our new long-only fund," she said.
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