22/02/2010
Stocks have to be in the “top quartile” for value (that is, bottom quartile for price) before the manager will research them.
The outcome is a portfolio which averages about 30 stocks.
The firm’s global fund has a return of 2.4 per cent since its December 2005 inception, compared with the MSCI index return of minus 4.8 per cent. The fund’s three-year outperformance of the index is 9.4 per cent and one year (to December last) is 12.2 per cent.
The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.
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We acknowledge the Traditional Custodians of this land upon which Conexus Financial sits, the Cadigal of the Eora Nation. We recognise their continuing connection and unique cultural and spiritual relationships to the land, waters and community. We pay our deepest respects to them and their culture, and to Elders both past and present.
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