Zenith upgrades two Allan Gray’s funds
Zenith has upgraded the two of Allan Gray’s funds, the Allan Gray Australia Equity Fund and the Allan Gray Stable Fund, to its highest rating of ‘highly recommended’.
The Australia Equity Fund, which invested in shares offering value, regardless of benchmark weight, was praised for being well placed to meet its investment objectives.
At the same time, the Australia Stable Fund was appreciated for the discipline “needed to implement a contrarian investment style.”
The Australia Stable Fund adopted the strategy according to which it had 100 per cent of its portfolio invested in cash and money market instruments and could never had more than 50 per cent invested in shares. It also aimed to outperform the RBA cash rate over the long term but with a lower degree of volatility compared to the sharemarket.
“We are extremely proud of the continued hard work and stringent discipline of the whole team at Allan Gray who work together to deliver on our purpose of building long-term wealth for our clients,” Allan Gray’s chief operating officer, JD de Lange, said.
According to FE Analytics, the Allan Gray Australia Stable Fund returned 6.14 and 6.51 per cent for the five and three year period, respectively.
Recommended for you
Platinum Asset Management has put its two closed-end funds under strategic review in a bid to reduce the share price discount to pre-tax NTA and maximise shareholder value.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.