Avenir Capital

Avenir Capital

Avenir Capital (Avenir) is an Australian based investment manager, specialising in value-oriented global equity investments. 

About

Avenir is a high conviction, global investor, focussed on building a concentrated portfolio of undervalued equity securities.

Avenir’s approach is centred on fundamental, bottom-up value investing without reference to the composition of any index. Avenir’s investment strategy is underpinned by private equity investing principals, and involves intensive due diligence and deep fundamental research to identify strong companies which it believes can be bought for significantly less than their intrinsic value. Avenir concentrates the portfolio in a select number of high conviction ideas and adopts a long term investment time horizon to realise value. The investment process and risk management framework seeks to encompass what Avenir believes to be a large margin of safety in order to minimise the risk of capital loss and deliver superior absolute returns to investors.

Avenir’s investment team is led by Portfolio Manager and CIO, Adrian Warner, who demonstrates an alignment of interest and commitment to investors by investing in Avenir’s strategies.

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

Approach

Avenir follows a classic value investing philosophy seeking superior long-term performance through the purchase of securities selling at prices materially below their estimate of intrinsic value. This process aims to limit the risk of capital loss while seeking to achieve capital appreciation and long-term compounding of value.

Avenir conduct’s fundamental, bottom-up analysis of companies and overlays that with an understanding of the psychological and human biases that can drive short-term divergence between the price of a security and the estimated intrinsic value of the underlying business.

The Fund has a relatively concentrated portfolio which allows Avenir’s best ideas to drive performance. The Fund’s turnover is relatively low as Avenir exercises discipline and patience in identifying and selecting investments. The Fund may hold up to 30% cash which enables Avenir to limit risk of capital loss and offers significant flexibility to patiently invest in their highest conviction ideas. Avenir seeks to invest with a long term time horizon, as they believe, given time, the underlying value of a well-chosen business will always prevail over short-term mispricing that may occur in a company’s securities.

Funds

Avenir Global Fund (Launching September 2017)

Strategy

Avenir seeks superior long-term performance by building a concentrated portfolio of global undervalued equity securities. Avenir’s high-conviction, research focussed investment process places strong emphasis on capital preservation, and identifies and exploits market inefficiencies to identify what Avenir believes are the most attractive investment opportunities.

Avenir’s disciplined research process targets opportunities which align with the following criteria:

1. Businesses and industries that are understandable
2. Quality businesses
3. Growing intrinsic value
4. Materially mispriced securities  (i.e. below Avenir’s estimate of intrinsic value).

Suits Investors Seeking:

  • Superior risk-adjusted investment returns
  • High-quality global equity securities
  • To invest for at least three years

Fund Downloads

Available from September 2017

Benchmark

MSCI ACWI INDEX (Net) in AUD

Offer Documents

 Offer documents will be available in September 2017

 

Avenir Global Fund - Class I

Strategy

Avenir seeks superior long-term performance by building a concentrated portfolio of global undervalued, securities. Avenir’s high-conviction, research focussed investment process places strong emphasis on capital preservation, and identifies and exploits market inefficiencies to identify what Avenir believes are the most attractive investment opportunities.

Avenir’s disciplined research process targets opportunities which align with the following criteria:

1. Businesses and industries that are understandable
2. Quality businesses
3. Growing intrinsic value
4. Materially mispriced securities (i.e. below Avenir’s estimate of intrinsic value).

Suits Investors Seeking:

  • Superior risk-adjusted investment returns
  • High-quality global equity securities
  • To invest for at least three years

Fund Downloads

IM is available on request

 

Benchmark

MSCI ACWI INDEX (Net) in AUD

Offer Documents

This fund is only available to wholesale clients (as defined by the Corporations Act 2001). Please contact Fidante Client Services on +61 13 51 53 if you are a wholesale client and wish to invest in the fund. 

 

Reports & Flyers

 Monthly Fund Report available on request

Steps to Invest

This fund is only available to wholesale clients (as defined by the Corporations Act 2001). Please contact Fidante Client Services on +61 13 51 53 if you are a wholesale client and wish to invest in the fund.

Our Team

Adrian Warner
Adrian Warner
Chief Investment Officer
Christine Jurzenski
Christine Jurzenski
Investment Associate