Alphinity Investment Management

Alphinity logo

Alphinity Investment Management (Alphinity) is an active equities investment manager with dedicated teams managing both Australian and Global equity funds, using a distinctive combination of fundamental analysis and specific quantitative inputs.

Updates to PDSs and Fund names

Fidante have published updated PDSs for all of its Funds effective 30 September 2017. These have been updated to incorporate the new requirements under Regulatory Guide 97 – Disclosing fees and costs in PDSs and periodic statements (RG97).

In addition to RG97 updates, Fidante have changed the names of some of its Funds following a recent operational review. There have been no changes to the Funds’ investment strategies or how the Funds are managed.

Please click here for more information on the Fund name changes.

About

Alphinity’s investment team is highly experienced with a strong track record of performance through various market cycles over a long period of time. Alphinity aims to deliver consistent outperformance for its clients by investing in quality, undervalued companies which it believes are in, or about to enter, a period of earnings upgrades. Its process for identifying such companies includes a distinctive combination of fundamental analysis and quantitative inputs. Alphinity’s boutique ownership structure results in a powerful alignment between their fund managers and the objectives of investors in their funds. 

What makes Alphinity unique is:

  • A well-defined and tested investment philosophy – a sole focus on investing in quality undervalued companies in an earnings upgrade cycle.
  • A distinctive, disciplined and rigorous research process – a truly unique partnership between detailed analyst driven fundamental research and specific targeted quantitative research inputs.
  • Highly experienced, accomplished and cohesive investment teams.
  • A business structure which strongly aligns the objectives of their investors with their investment staff.
  • Local and global analysts and portfolio managers based in one location in Sydney.

For more information, please visit www.alphinity.com.au

Approach

Alphinity's investment philosophy seeks to identify and invest in attractively valued, quality companies in, or about to enter, an earnings upgrade cycle.  Simply put, they look for stocks that can deliver 'earnings surprises' to drive outperformance. 

A company's earnings ultimately will drive its share price performance over time.  The share price will, at any given point, reflect the market's future earnings expectations.  However the market is typically inefficient at accurately pricing future consequences of new information that will affect company earnings.  Clearly identifiable characteristics exist for companies whose earnings ability is likely to be under (or over) estimated by the market, allowing Alphinity to exploit this inefficiency to create outperformance. 

The teams use a unique combination of fundamental and quantitative research when constructing the portfolios.  An earnings revision approach requires deep fundamental analysis to understand the specific drivers and the sustainability of a company's earnings. This results in a valuation and forecast for expected earnings growth into the medium term for each company covered. Fundamental research is then combined with objective targeted quantitative factors in Alphinity's proprietary Composite Research Model (CRM).

Portfolio construction is centred therefore on stocks with high CRM scores.  Finding stocks that have strong appeal across both spectrums of research significantly increases the probability of finding earnings surprise stocks and therefore generating outperformance for clients.  

Funds

Alphinity Australian Share Fund 

Strategy

The Fund seeks to build a portfolio of Australian stocks listed on the ASX that is well diversified across different industries and sectors and aims to meet the Fund’s investment objective (to outperform the benchmark after costs over rolling five year periods) in a risk-controlled manner.

Suits Investors Seeking:

  • Higher levels of return compared to market and are comfortable with high volatility
  • To invest for at least five years
  • A diversified portfolio of Australian listed stocks

Fund Downloads

Fund Report

Fund Profile

PDS

Benchmark

S&P/ASX 300 Accumulation Index

Overview

31 October 1994

Inception Date

0.90%

Management Cost

ALH01

mFund Code

Quarterly

Distribution Frequency

5 Years

Suggested Minimum Time Frame

$10,000

Minimum Investment

PAM0001AU

APIR Code

 

 

Interests in the Alphinity Australian Share Fund (ARSN 092 999 301) are offered by Fidante Partners Limited ABN 94 002 835 592, AFSL 234668 (Fidante Partners). Fidante Partners has appointed Alphinity Investment Management Pty Ltd as the investment manager of the Fund.

Closed Funds

The retail class of units in the Alphinity Australian Share Fund - Class B (Closed) (APIR HOW0122AU) is closed to new investors. Existing investors can continue to make additional investments. Click here to view unit price history.

Fund Performance (Net) as at: 30 Sep 2017

-0.02%

1 month

0.95%

3 months

10.87%

1 year

7.02%

3 years (p.a.)

10.85%

5 years (p.a.)

-

10 years (p.a.)

9.18%

Since inception (p.a.)

Past performance is not a reliable indicator of future performance.
1. Returns are calculated after fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 July 2010, at which time Alphinity Investment Management commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The transition was completed 31 August 2010. The inception date for the returns for the Fund is 1 September 2010. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

loading...
As at Date: 30 Sep 2017
Inception Date: 31 Aug 2010

Past performance is not a reliable indicator of future performance.
1. Returns are calculated before fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 July 2010, at which time Alphinity Investment Management commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The transition was completed 31 August 2010. The inception date for the returns for the Fund is 1 September 2010. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

 

 

Alphinity Australian Equity Fund 

Strategy

The Fund seeks to build a portfolio of Australian stocks listed on the ASX that is well diversified across different industries and sectors and aims to meet the Fund’s investment objective (to outperform the benchmark after costs over rolling three year periods) in a risk-controlled manner.

Suits Investors Seeking:

  • Higher levels of return compared to market and are comfortable with high volatility
  • To invest for at least five years
  • A diversified portfolio of Australian listed stocks

Fund Downloads

Fund Report

PDS

Benchmark

S&P/ASX 300 Accumulation Index

Overview

7 November 2003

Inception Date

0.90%

Management Cost

Quarterly

Distribution Frequency

5 Years

Suggested Minimum Time Frame

$10,000

Minimum Investment

HOW0019AU

APIR Code 

 

Interests in the Alphinity Australian Equity Fund (ARSN 107 016 517) are offered by Fidante Partners Limited ABN 94 002 835 592 AFSL 234668 (Fidante Partners). Fidante Partners has appointed Alphinity Investment Management Pty Ltd as the investment manager of the Fund.

Fund Performance (Net) as at: 30 Sep 2017

-0.02%

1 month

0.95%

3 months

10.97%

1 year

7.09%

3 years (p.a.)

10.86%

5 years (p.a.)

-

10 years (p.a.)

10.51%

Since inception (p.a.)

Past performance is not a reliable indicator of future performance.
1. Returns are calculated after fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when
calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 August 2011, at which time Alphinity Investment Management
commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The
transition was completed 31 August 2011. The inception date for the returns for the Fund is 1 September 2011. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

loading...
As at Date: 30 Sep 2017
Inception Date: 31 Aug 2011

Past performance is not a reliable indicator of future performance.
1. Returns are calculated after fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 August 2011, at which time Alphinity Investment Management commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The transition was completed 31 August 2011. The inception date for the returns for the Fund is 1 September 2011. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

Alphinity Concentrated Australian Share Fund 

Strategy

The Fund is a high conviction concentrated portfolio of Australian stocks listed on the Australian Securities Exchange (ASX) that is well diversified across different industries and sectors. It aims to meet the Fund’s investment objective (to outperform the benchmark after costs and over rolling five year periods) in a risk-controlled manner.

Suits Investors Seeking:

  • Higher levels of return compared to the market and are comfortable with high volatility
  • To invest for at least five years
  • A high conviction portfolio of Australian listed stocks

Fund Downloads

Fund Report

Fund Profile

PDS

Benchmark

S&P/ASX 200 Accumulation Index

Overview

1 November 2004

Inception Date

0.90%

Management Fee

ALH02

mFund Code

Quarterly

Distribution Frequency

5 Years

Suggested Minimum Time Frame

$10,000

Minimum Investment

HOW0026AU

APIR Code

 

 

Interests in the Alphinity Concentrated Australian Share Fund (ARSN 089 715 659) are offered by Fidante Partners Limited ABN 94 002 835 592. AFSL 234668 (Fidante Partners). Fidante Partners has appointed Alphinity Investment Management Pty Ltd as the investment manager of the Fund.

Closed Funds

The retail class of units in the Alphinity Concentrated Australian Share Fund - Class B (Closed) (APIR EQI0001AU) is closed to new investors.  Existing investors can continue to make additional investments. Click here to view unit price history.

Fund Performance (Net) as at: 30 Sep 2017

0.63%

1 month

1.36%

3 months

12.43%

1 year

10.03%

3 years (p.a.)

12.72%

5 years (p.a.)

-

10 years (p.a.)

10.61%

Since inception (p.a.)

Past performance is not a reliable indicator of future performance.
1. Returns are calculated after fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 July 2010, at which time Alphinity Investment Management commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The transition was completed 31 August 2010. The inception date for the returns for the Fund is 1 September 2010. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

loading...
As at Date: 30 Sep 2017
Inception Date: 31 Aug 2010
Past performance is not a reliable indicator of future performance.
1. Returns are calculated before fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 July 2010, at which time Alphinity Investment Management commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The transition was completed 31 August 2010. The inception date for the returns for the Fund is 1 September 2010. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

 

 

Alphinity Socially Responsible Share Fund 

Strategy

The Fund holds a portfolio of stocks listed on the ASX that is well diversified across different industries and sectors, scores well on social measures, and meets the Fund’s investment objective (to outperform the benchmark after costs and over rolling five year periods) in a risk-controlled manner. Labour standards and environmental, social and ethical considerations are taken into account when making investment decisions. A holistic approach is applied which includes analysis of companies’ environmental, social and governance considerations (referred to as ESG considerations) within the framework of traditional investment and financial analysis.

Suits Investors Seeking:

  • Higher levels of return compared to the market and are comfortable with high volatility
  • To invest for at least five years
  • A diversified portfolio of Australian listed stocks screened through ESG factors
  • To align investment goals with social values

Fund Downloads

Fund Report

Fund Profile

PDS

Benchmark

S&P/ASX 300 Accumulation Index

Overview

30 June 2000

Inception Date

1.15%

Management Cost

ALH03

mFund Code

Quarterly

Distribution Frequency

5 Years

Suggested Minimum Time Frame

$10,000

Minimum Investment

HOW0121AU

APIR Code

 

 

Interests in the Alphinity Socially Responsible Share Fund ARSN 093 245 124 are offered by Fidante Partners Limited ABN 94 002 835 592, AFSL 234668 (Fidante Partners). Fidante Partners has appointed Alphinity Investment Management Pty Ltd as the investment manager of the Fund.

Closed Funds

The retail class of units in the Alphinity Socially Responsible Share Fund - Class B (Closed) (APIR GLO0015AU) is closed to new investors. Existing investors can continue to make additional investments. Click here to view unit price history.

Fund Performance (Net) as at: 30 Sep 2017

0.01%

1 month

1.40%

3 months

8.76%

1 year

6.87%

3 years (p.a.)

10.47%

5 years (p.a.)

-

10 years (p.a.)

8.82%

Since inception (p.a.)

Past performance is not a reliable indicator of future performance.
1. Returns are calculated after fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 July 2010, at which time Alphinity Investment Management commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The transition was completed 31 August 2010. The inception date for the returns for the Fund is 1 September 2010. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

loading...
As at Date: 30 Sep 2017
Inception Date: 31 Aug 2010
Past performance is not a reliable indicator of future performance.
1. Returns are calculated before fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The Fund changed investment manager and investment methodology on 12 July 2010, at which time Alphinity Investment Management commenced managing the Fund and started the transitioning of the portfolios to a structure consistent with Alphinity's investment views. The transition was completed 31 August 2010. The inception date for the returns for the Fund is 1 September 2010. For performance relating to previous periods, please contact the Fidante Partners Investor Service team on 13 51 53 during Sydney business hours.

 

 

Alphinity Global Equity Fund 

Strategy

The Fund seeks to build a portfolio of international stocks that is well diversified across different sectors countries and currencies and aims to meet the Fund’s investment objective (to outperform the benchmark after costs over rolling five year periods) in a risk-controlled manner.

Suits Investors Seeking:

  • Higher levels of return compared to market and are comfortable with high volatility
  • To invest for at least five years
  • A diversified portfolio of international listed stocks

Fund Downloads

Fund Report 

Fund Profile

PDS

Benchmark

MSCI World ex Australia Net Total Return Index

Overview

21 December 2015

Inception Date

1.00%

Management Fee

Yearly

Distribution Frequency

5 Years

Suggested Minimum Time Frame

$10,000

Minimum Investment

HOW0164AU

APIR Code

 

Interests in the Alphinity Global Equity Fund ARSN 609 473 127 are offered by Fidante Partners Limited ABN 94 002 835 592. AFSL 234668 (Fidante Partners). Fidante Partners has appointed Alphinity Investment Management Pty Ltd as the investment manager of the Fund.

Fund Performance (Net) as at: 30 Sep 2017

4.58%

1 month

4.82%

3 months

21.42%

1 year

-

3 years (p.a.)

-

5 years (p.a.)

-

10 years (p.a.)

8.94%

Since inception (p.a.)

Past performance is not a reliable indicator of future performance.
1. Returns are calculated after fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The inception date of the Fund is 21 December 2015.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

loading...
As at Date: 30 Sep 2017
Inception Date: 21 Dec 2015
Past performance is not a reliable indicator of future performance.
1. Returns are calculated before fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures.
2. The inception date of the Fund is 21 December 2015.

Australia Team

Johan Carlberg
Johan Carlberg
Portfolio Manager and Principal
Andrew Martin
Andrew Martin
Portfolio Manager and Principal
Bruce Smith
Bruce Smith
Portfolio Manager and Principal
Stephane Andre
Stephane Andre
Portfolio Manager and Principal
Shane Kelly
Shane Kelly
Research Analyst
Stuart Welch
Stuart Welch
Senior Research Analyst
Richard Hitchens
Richard Hitchens
Senior Quantitative Analyst
Adam Solano
Adam Solano
Senior Trader

Global Team

Jonas Palmqvist
Jonas Palmqvist
Portfolio Manager
Lachlan MacGregor
Lachlan MacGregor
Portfolio Manager
Jeff Thomson
Jeff Thomson
Portfolio Manager
Richard Hitchens
Richard Hitchens
Senior Quantitative Analyst
Adam Solano
Adam Solano
Senior Trader

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