Kapstream Capital

Kapstream Capital

Kapstream Capital (Kapstream) combines capital preservation techniques with unconstrained portfolio management skills in the pursuit of stable, absolute returns.

Buy and sell spread of Funds

Click here for the latest update on buy and sell spreads. 

About

Kapstream Capital was founded in 2006 by Kumar Palghat and Nick Maroutsos, both seasoned fixed income managers. Kumar and Nick started with a simple belief; that by removing the constraints inherent in conventional benchmark-relative fixed income portfolio strategies, and by setting absolute return targets and absolute risk limits, it would be possible to construct portfolios using predominantly investment grade assets that more closely met the requirements of a growing number of investors, in delivering consistent and positive returns.

Kapstream today manages in excess of A$17 billion as at 30 September 2020 from offices from offices in Sydney and Newport Beach, California. Since July 2015 Kapstream has operated as an autonomous 'boutique' subsidiary, initially of Janus Capital Group and - since their merger in May 2017 with Henderson Global Investors - now of Janus Henderson Investors. Kapstream has always believed in an outsourced business model, appointing Fidante Partners to provide all back office, administration and retail distribution services. 

For more information, please visit www.kapstream.com

Approach

Kapstream adheres to an active and less traditional approach to fixed interest management, one that blends top down macroeconomic outputs with bottom-up security selection. Unlike more mainstream competitors, it is not subject to the same benchmark relative constraints, providing the team with greater scope to incorporate best trade ideas and position the portfolio in response to varying market conditions.

Funds

Kapstream Absolute Return Income Fund 

Strategy

The Kapstream Absolute Return Income Fund is managed with an innovative approach to fixed income, balancing the interests of capital preservation with the generation of consistent and stable income, and, free from conventional constraints in sourcing the most compelling fixed income investment opportunities in Australia and around the world, according to their global macroeconomic views.

Suits Investors Seeking:

  • Stable income across market cycles
  • Potentially higher levels of returns compared to cash
  • Low to moderate volatility
  • A diversified portfolio that can complement other asset classes

Benchmark

RBA cash rate

Overview

Current as of September 2020

31 May 2007

Inception Date

0.55%

Management Fee

3 Years

Suggested Minimum Time Frame

A$3.2B

Funds Under Management*

Quarterly

Distribution Frequency

KAP01

mFund Code

$10,000

Minimum Investment

HOW0052AU

APIR Code

*Funds under management displayed at a class level only. 

Interests in the Kapstream Absolute Return Income Fund ARSN 124 152 790 are offered by Fidante Partners Limited (ABN 94 002 835 592 AFSL 234 668) (Fidante Partners). Fidante Partners has appointed Kapstream Capital Pty Ltd (ABN 19 122 076 117 AFSL 308870) as the investment manager of the Fund.

Fund Performance (Net) as at: 30 Sep 2020

0.22%

1 month

0.92%

3 months

0.77%

1 year

2.26%

3 years (p.a.)

2.60%

5 years (p.a.)

3.81%

10 years (p.a.)

4.44%

Since inception (p.a.)

Past performance is not a reliable indicator of future performance.
1. Performance figures 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 for the Fund is 31 May 2007.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

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As at Date: 30 Sep 2020
Inception Date: 31 May 2007
Past performance is not a reliable indicator of future performance
1 Performance figures 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 for the Fund is 31 May 2007.

Offer Documents 

 


Forms

 


Reports & Flyers

 


Product Updates

 

 


    

Our Team

Nick Maroutsos
Nick Maroutsos
Portfolio Manager and Co-Founder
Stephen Goldman
Steve Goldman
Managing Director & Portfolio Manager
Daniel Siluk
Daniel Siluk
Managing Director & Portfolio Manager
Rob Roszkowski
Rob Roszkowski
Portfolio Manager
James Bloom
James Bloom
Managing Director, Investor Relations
Courtney Chute
Courtney Chute
Portfolio Analyst
Dylan Bourke
Dylan Bourke
Portfolio Manager
Priyank Shah
Priyank Shah
Portfolio Manager
Pauline Chrystal
Pauline Chrystal
Portfolio Manager
Pauline Chrystal
Mark Bayley
Portfolio Manager

Related Resources

Credit

From Winter Springs Summer

Kapstream Capital break down and consider the headline risk and return components of all fixed income strategies. Read more
Credit

Tubthumping (I Get Knocked Down)

Kapstream Capital explore the road forward and lessons learned following the March crisis with the help of ‘20/20 hindsight’ and the careful evaluation of the things more obvious now that were perhaps not so obvious then. Read more
Credit

RBA to Markets: "We are Still Here."

Kapstream Capital's Dan Siluk provides insight on why the RBA has chosen now to reenter markets with the aim of keeping interest rates at its designated target. Read more