Macquarie Australian Small Companies FundA diversified portfolio of Australian small companies

What the Macquarie Australian Small Companies Fund aims to offer

Diversified exposure

To a portfolio of Australian small companies identified as having attractive fundamentals

Aims to achieve consistent active returns

By holding a large number of small active positions

Emotional bias risk reduced

A systematic approach to capturing the fundamental characteristics of stocks

Fund facts
Investment objective The Macquarie Australian Small Companies Fund aims to outperform the S&P/ASX Small Ordinaries Accumulation Index (Benchmark) over the medium to long term (before fees). It aims to provide capital growth and some income
Benchmark S&P/ASX Small Ordinaries Accumulation Index
Portfolio managers Derek Bilney, Brad Partridge
Inception date* 6 July 2006
Fund size $A81.3m (current as at 30 November 2018)
Management fee 0.600%pa of the net asset value of the Fund
Performance fee 15% of the outperformance of the fund (after the management fee and expenses) above the return of the Benchmark, subject to a 'high watermark' and inclusive of GST
Minimum investment $A20,000
Distribution frequency Generally quarterly
APIR code MAQ0454AU

* Until 17 December 2017, the strategy was managed with a fundamental approach. From 18 December 2017, the strategy was restructured such that it is managed with a quantitative, systematic investment approach. At this time the base fee was decreased to 0.60% pa.

Read the Product Disclosure Statement for more details on fees and expenses that may be charged.

Investment strategy

The Fund provides exposure to an actively managed and diversified portfolio of Australian small cap equities through securities listed, or expected to be listed, on the Australian Securities Exchange. The Fund may also provide exposure to equity issued by Australian entities on offshore exchanges, derivatives (including options, futures, warrants and forwards) and cash.

The Investment Manager aims to build a portfolio providing exposure to some of the fastest growing companies on the Australian sharemarket.

The process seeks to identify companies which:

  • rank highly on the Investment Manager’s quantitative screens, and
  • may exceed market expectations over the long term.

Performance

Net returns as at 30 November 2018

 
Period 1m (%) 3m (%) 6m (%) 1y (%) 2y (%pa) 3y (%pa) 5y (%pa) Inception* (%pa)
Macquarie Australian Small Companies Fund** -0.37 -10.32
6.84 18.26 17.87 16.76 8.77
Benchmark*** -0.37 -10.25 -1.63 8.87 10.39 7.06 2.28

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Past performance is not a reliable indicator of future performance. The Fund’s investment strategy changed effective 18 December 2017. Until 17 December 2017, the strategy was managed with a fundamental high conviction approach. From 18 December 2017, the strategy was restructured such that it is managed with a quantitative, systematic investment approach. At this time the base fee was decreased to 0.60%pa. Please contact your financial adviser for further information.

* Inception date of the Fund was 6 July 2006.

** Net returns are quoted after the deduction of all fees and expenses. Total returns are calculated based on changes in net asset values and assumes the reinvestment of distributions. Due to individual investor circumstances, your net returns may differ from the net returns quoted above.

*** The Benchmark is the S&P/ASX Small Ordinaries Accumulation Index.

Managers

Derek Bilney
Brad Partridge

Risks

All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying assets. Generally, the higher the potential return of an investment, the greater the risk. The risks of investing in this Fund include:

Investment risk: The Fund has exposure to share markets. The risk of an investment in the Fund is higher than an investment in a typical bank account or fixed income investment. Amounts distributed to unitholders may fluctuate, as may the Fund’s unit price. The unit price may vary by material amounts, even over short periods of time, including during the period between a redemption request or application for units being made and the time the redemption unit price or application unit price is calculated.

Market risk: Share markets can be and have been volatile, and have the potential to fall by large amounts over short periods of time. The investments of the Fund are likely to have a broad correlation with share markets in general, and hence poor performance or losses in domestic and/or global share markets are likely to negatively impact the overall performance of the Fund.

Small companies risk: The fund has exposure to companies generally considered small to medium in terms of market capitalisation. Companies within this sector of the market may include recently established entities with limited public information, or entities engaged in new-to-market concepts which may be speculative in nature. Shares in companies in this sector are generally less liquid and more volatile than those of larger companies. Small companies exposure may result in higher unit price volatility and an increased risk of loss.

More information on the risks of investing in the Fund is contained in the Product Disclosure Statement, which should be considered before deciding to invest in the Fund.

How to invest

Send us the Application Form and any required identification documents

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