Kapstream Capital

Kapstream Capital

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

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 remains lead today by its founders (joined in 2010 by Steve Goldman) and manages in excess of A$10 billion 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 Wholesale Absolute Return Income Fund 

Strategy

The Kapstream Wholesale 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

Fund Downloads

Fund Report

Fund Profile

PDS

Benchmark

50% Bloomberg AusBond Composite Bond 0-3 Year Index / 50% Bloomberg AusBond Bank Bill Index

Overview

Current as of May 2017

31 May 2007

Inception Date

0.70%

Management Cost

3 Years

Suggested Minimum Time Frame

A$2.9B

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 are offered by Fidante Partners Limited ABN 94 002 835 592 AFSL 234 668 (Fidante Partners). Fidante Partners has appointed Kapstream Capital Pty Limited as the investment manager of the Fund.

Fund Performance (Net) as at: 31 May 2017

0.36%

1 month

0.90%

3 months

3.15%

1 year

3.18%

3 years (p.a.)

4.20%

5 years (p.a.)

5.17%

10 years (p.a.)

5.17%

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: 31 May 2017
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.

Our Team

Kumar Palghat
Kumar Palghat
Portfolio Manager and Co-Founder
Nick Maroutsos
Nick Maroutsos
Portfolio Manager and Co-Founder
Stephen Goldman
Steve Goldman
Portfolio Manager
Daniel Siluk
Daniel Siluk
Portfolio Manager
Raymond Lee
Raymond Lee
Portfolio Manager and Head of Credit
Rob Roszkowski
Rob Roszkowski
Portfolio Manager
James Bloom
James Bloom
Director of Investment Strategy
Courtney Chute
Courtney Chute
Portfolio Analyst
Dylan Bourke
Dylan Bourke
Portfolio Manager
Priyank Shah
Priyank Shah
Portfolio Manager
David Saiji
David Saija
Portfolio Manager
Bob Sahota
Bob Sahota
Head of Direct Lending

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