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ABOUT THE MONASH ABSOLUTE RETURN COMPANY – ASX CODE MA1

Monash Absolute Investment Company Limited (“the Company”) possesses a diversified portfolio of predominantly Australian securities (listed and some Pre-IPO securities), with an Absolute Return style of investing and a focus on capital preservation. The Investment Portfolio is managed by Monash Investors Pty Limited, an experienced specialist Australian equity investment manager.

The Company is listed on the Australian Stock Exchange, Code MA1.

The Company’s objective is to achieve a targeted positive return over a market cycle (typically 5 to 7 years) while having a focus on capital preservation over the medium term.

STRATEGY OVERVIEW

The Company employs an investment approach which is high conviction, benchmark unaware, security size agnostic, investment style (i.e. growth, value, discounted cash flow) agnostic and has a capital preservation focus.

Monash Investors believes that most equity securities are fairly priced most of the time, but some will be significantly mispriced and will work to identify and exploit situations where it perceives significant mispricing. Monash Investors believes there are many potential causes of mispricing that arise from recurring situations or patterns of behaviour and seeks to identify these to help inform its search for investment opportunities.

Monash Investors is focused on identifying securities that meet one or more of the following characteristics:

  1. Insight: securities that the Investment Manager considers to be underestimated or misunderstood in some way by the market;
  2. Growth: securities with high growth in revenue, cash flow or earnings per share forecast by the Investment Manager;
  3. Value: securities that represent a high expected pay-off to a target price calculated by the Investment Manager; and
  4. Event: securities that the Investment Manager has identified a near term event or catalyst that it believes should drive a share price reaction.

Key Features of the Investment Strategy

  • Portfolio with a small cap bias compared to a market capitalisation based index, such as the S&P/ASX 300 Index;
  • exposure to short selling opportunities;
  • construction of a Portfolio with exposure to Pre-IPO securities; and
  • seeking to maintain a more consistent return profile than the market, with lower volatility and lower Beta

DISCLAIMER

Important Information

This document is issued by The Trust Company (RE Services) Limited ABN 45 003 278 831, AFSL 235 150 (“Perpetual”) as responsible entity of, and issuer of units in, the Monash Absolute Investment Fund ARSN 606 855 501 (“Fund”). Monash Investors Pty Limited ABN 67 153 180 333, AFSL 417 201 (“Monash Investors”) is the investment manager of the Fund.  The inception date of the Fund is 2 July 2012. Winston Capital Partners Pty Limited ABN 29 159 382 81, AFSL 4695563 (Winston) provides distribution services to Monash.

The information provided in this document is general information only and does not constitute investment or other advice. The content of this document does not constitute an offer or solicitation to subscribe for units in the Fund or an offer to buy or sell any financial product Accordingly, reliance should not be placed on this document as the basis for making an investment, financial or other decision. This information does not take into account your investment objectives, particular needs or financial situation. None of Perpetual, Monash Investors or Winston accepts liability for any inaccurate, incomplete or omitted information of any kind or any losses caused by using this information. Any investment decision in connection with the Fund should only be made based on the information contained in the disclosure document for the Fund. A product disclosure statement (PDS) issued by Perpetual dated 3 August 2015 is available for the Fund. You should obtain and consider the PDS for the Fund before deciding whether to acquire, or continue to hold, an interest in the Fund. Initial Applications for units in the Fund can only be made pursuant to the application form attached to the PDS.

Performance figures assume reinvestment of income. Past performance is not a reliable indicator of future performance. Comparisons are provided for information purposes only and are not a direct comparison against benchmarks or indices that have the same characteristics as the Fund.

None of Monash Investors, Perpetual or Winston guarantee repayment of capital or any particular rate of return from the Fund.  None of Monash Investors, Perpetual or Winston give any representation or warranty as to the reliability, completeness or accuracy of the information contained in this document.  All opinions and estimates included in this document constitute judgments of Monash Investors as at the date of this document are subject to change without notice.

The Lonsec Rating (09/2017) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Monash Investors (Monash), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria. For further information regarding Lonsec’s Ratings methodology, please refer to our website at: http://www.beyond.lonsec.com.au/intelligence/lonsec-ratings

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