Microcap manager, Acorn Capital, has recorded its best ever absolute return, with a performance for the year to June of 58.4 per cent, and will present a new ownership scheme to the board.
Acorn outperformed the accumulation index benchmark it helped develop with the Australian Graduate School of Management by 4.1 per cent before fees for the year, and has delivered its 10 clients a return of 38.6 per cent compounded per annum over three years. Chris Simpson, Acorn’s manager of client services, said the manager struggled for a lot of the year to outpeform but had delivered “;staggering numbers”;. Acorn has five analysts, that cover more than 1600 securities, and is looking to recruit a sixth as part of its succession planning. All staff have a share in the ownership of the firm, and a new employee ownership scheme is going to the board at its next meeting. Directors and staff have a 47 per cent interest in the company, with Australian Unity (50 per cent) and Goldman Sachs JBWere (3 per cent) the other shareholders.
The $355 billion AustralianSuper has acquired a $1.4 billion European industrial and logistics portfolio, owned by OMERS real estate subsidiary Oxford Properties. The nation’s biggest fund is targeting a $7.5 billion valuation for the venture and $35 billion allocation in European and UK region before 2030, supported by its biggest international office in London with 121 employees.
Darcy SongJanuary 14, 2025
