Lakehouse fund receives ‘recommended’ rating
The Lakehouse Global Growth fund has been awarded a ‘recommended’ rating by Zenith in its debut review.
This was the first review for the fund which was launched by Lakehouse Capital in December 2017 and was managed by Lakehouse co-founder Joe Magyer alongside a five-strong investment team.
In its research report, Zenith noted Magyer was an “experienced and capable investor” while the $210 million fund was a “unique proposition”.
“The fund offers investors a benchmark unaware, growth-orientated, high-conviction portfolio of global companies with a long-term investment horizon. Zenith considers portfolio manager Joe Magyer to be an experienced and capable investor, and views the fund's differentiated process positively, providing investors with a unique investment proposition,” it said.
“Through a fundamentally-driven process, Lakehouse favours companies that reinvest the majority of profits back into operations, believing this generally leads to strong earnings growth and, subsequently, share price appreciation. In addition, Lakehouse has a key focus on asymmetric outcomes, investing in companies with strong upside potential and minimal downside risk.”
Magyer, who co-founded Lakehouse in 2016 with Donny Buchanan, said: “With assets under management also reaching a milestone of $500 million across both strategies it is also an exciting time to be investing in, and growing, the business. Now was the right time to seek our first rating from Zenith allowing us to increase our engagement and make the Global Growth fund available to a wider audience”.
According to FE Analytics, within the Australian Core Strategies universe, the Lakehouse Global Growth fund returned 33% over one year to 31 July, 2020 versus returns by the global equity sector of 1.9%.
Performance of Lakehouse Global Growth versus global equity sector over one year to 31 July 2020
AUTHOR
Laura Dew
Recommended for you
Having launched its first active ETF for Australian investors earlier this year, iShares says this has helped the firm reach $50 billion in assets under management in Australia.
Recommending Platinum shareholders to enact the merger with L1 Capital, Morningstar has said it expects the combined firm will be able to moderate outflows and facilitate diversity in product range.
Elanor Commercial Property Fund has appealed to the Takeovers Panel regarding the takeover offer by family office Lederer Group, describing “disclosure deficiencies” in last month’s bidders statement.
Wholesale distribution is experiencing the most active hiring efforts as the decline in financial advisers means fund managers are focusing on high-net-worth investors and wealth managers instead.
