WaveStone Capital

WaveStone Capital

WaveStone Capital (WaveStone) is a boutique Australian equities fund manager with an active, high conviction approach.

About 

WaveStone is a specialist boutique Australian Equities manager based in Sydney. Founded in 2006, WaveStone aims to provide tax-effective income and capital growth over the long-term by investing in a portfolio of quality businesses, identified as offering the common theme of Sustainable Competitive Advantage (SCA) – businesses with superior corporate DNA operating within industries with favourable dynamics that deliver above market earnings growth.

For more information, please visit www.wavestonecapital.com

Approach

WaveStone are an active high conviction manager with a bottom up stock-picking process.

WaveStone invests in proven business models with an equity market capitalisation greater than $200m at the time of purchase. Typically, the companies they invest in are prudently financed, well managed and have a track record of success. The WaveStone team apply growth, quality and valuation tests, positioning their investment style towards growth at a reasonable price (GARP). WaveStone’s approach tends to favour companies that will grow earnings faster than the market over the medium term.

Funds

WaveStone Wholesale Australian Share Fund 

Strategy

The WaveStone Wholesale Australian Share Fund (the Fund) invests primarily in securities listed on Australian exchanges but may also have up to 10% exposure to international securities listed in exchanges in developed markets. Securities include equity securities, hybrid securities (for example, convertible preference shares) and shares in unlisted companies provided that they are expected to list within 12 months. The Fund may invest in up to 50 companies, will usually have some cash investments and may use options, futures and other derivatives.

Suits Investors Seeking:

  • A tax-aware, high conviction portfolio of Australian shares
  • To invest for at least five years
  • Lower volatility to the Australian Stock market

Fund Downloads

Fund Report

Fund Profile

PDS

Benchmark

S&P/ASX 300 Accumulation Index

Overview

Current as of May 2017

18 November 2003

Inception Date

0.97%

Management Cost

5 Years

Suggested Minimum Time Frame

A$166.1M

Funds Under Management*

Half-yearly

Distribution Frequency

$10,000

Minimum Investment

HOW0020AU

APIR Code

Interests in the WaveStone Wholesale Australian Share Fund ARSN 107 016 866 are offered by Fidante Partners Limited ABN 94 002 835 592 AFSL 234668 (Fidante Partners).

Fund Performance (Net) as at: 31 May 2017

-2.65%

1 month

2.57%

3 months

9.03%

1 year

8.53%

3 years (p.a.)

-

5 years (p.a.)

-

10 years (p.a.)

10.28%

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 Fund changed investment manager on 1 February 2014, at which time WaveStone Capital commenced managing the Fund. The transition was completed on 31 January 2014. Therefore, the inception date for the Fund returns shown above is 1 February 2014. For performance relating to previous periods please contact the Fidante Partners Investor Services 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: 31 May 2017
Inception Date: 31 Jan 2014
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 Fund changed investment manager on 1 February 2014, at which time WaveStone Capital commenced managing the Fund. The transition was completed on 31 January 2014. Therefore, the inception date for the Fund returns shown above is 1 February 2014. For performance relating to previous periods please contact the Fidante Partners Investor Services team on 13 51 53 (during Sydney business hours).

WaveStone Wholesale Dynamic Australian Equity Fund 

Strategy

The WaveStone Wholesale Dynamic Australian Equity Fund (the Fund) is a long/short fund which offers investors a long/short Australian equities opportunity through a high conviction portfolio. WaveStone will vary its exposure to the stock market and operates between 50% to 100% net equity exposure (long positions less short positions). The Fund is a concentrated portfolio of generally between 25 and 50 companies listed on the ASX and may also have up to 10% exposure to international securities listed in exchanges in developed markets. It will hold up to 10 short positions in stocks where there is a belief that the company is overvalued. It also can use options, futures and other derivatives to manage risk.

Suits Investors Seeking:

  • High levels of return and are comfortable with high volatility
  • To invest for at least five years
  • A concentrated portfolio of Australian shares with the ability to vary market exposure

Fund Downloads

Fund Report

Fund Profile

PDS

Benchmark

 S&P/ASX 300 Accumulation Index

Overview

Current as of May 2017

2 July 2009

Inception Date

1.10%

Management Fee

5 Years

Suggested Minimum Time Frame

A$248.5M

Funds Under Management*

Yearly

Distribution Frequency

$10,000

Minimum Investment

HOW0053AU

APIR Code

*Funds under management displayed at a class level only. 

Interests in the WaveStone Dynamic Australian Equity Fund ARSN 134 793 605 are offered by Fidante Partners Limited ABN 94 002 835 592 AFSL 234 668 (Fidante Partners). Fidante Partners has appointed WaveStone Capital Pty Limited as the investment manager of the Fund.

Fund Performance (Net - including franking credits) as at: 31 May 2017

-2.19%

1 month

2.87%

3 months

8.35%

1 year

7.88%

3 years (p.a.)

14.26%

5 years (p.a.)

-

10 years (p.a.)

11.81%

Since inception (p.a.)

Fund Performance (Net - excluding franking credits) as at: 31 May 2017

-2.40%

1 month

2.48%

3 months

7.12%

1 year

6.48%

3 years (p.a.)

12.93%

5 years (p.a.)

-

10 years (p.a.)

10.37%

Since inception (p.a.)

Past Performance is not indicative of future performance.
1. Franking credits accrued as received by the Fund.
2. After all fees and expenses and assumes all distributions are reinvested.
3. Fund inception date is 2 July 2009.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

loading...
As at Date: 31 May 2017
Inception Date: 02 Jul 2009
Past Performance is not indicative of future performance.
1. Franking credits accrued as received by the Fund.
2. After all fees and expenses and assumes all distributions are reinvested.

WaveStone Capital Absolute Return Fund 

Strategy

The WaveStone Capital Absolute Return Fund (the Fund) is an Australian equity long/short fund. The Fund’s aim is to provide capital growth over the long term. It will vary its exposure to the stock market and operates between 0% to 100% net equity exposure (long positions less short positions). The Fund is a concentrated portfolio of generally between 25 and 50 companies listed on and may also have up to 10% exposure to international securities listed in exchanges in developed markets.

The Fund is available to wholesale clients (as defined in the Corporations Act 2001) only.

Suits Investors Seeking:

  • High levels of return and are comfortable with the possibility of negative returns in the short to medium term.
  • A concentrated portfolio of Australian shares with the ability to vary market exposure
  • Investors with 5 year minimum investment time horizons.

Fund Downloads

Information Memorandum

Benchmark

RBA cash rate

Overview

Current as of May 2017

5 September 2006

Inception Date

1.25% p.a (exclusive of GST)

Management Fee

5 Years

Suggested Minimum Time Frame

A$70.5M

Funds Under Management*

Half-yearly

Distribution Frequency

$500,000

Minimum Investment

-

APIR Code

The Fund is not registered as a managed investment scheme. Accordingly, as noted above, the Fund is only available to wholesale clients. By downloading the Information Memorandum, you confirm you are a wholesale client. Applicants for units in the Fund must provide documentary evidence that they are a wholesale client and if an applicant is unable to evidence this, their application will not be accepted. Fidante Partners Limited is the trustee of the Fund. Investments in the Fund are not subject to the consumer protection provisions of the Corporations Act applicable to registered managed investment schemes and hence is not appropriate for non-wholesale clients. Also refer to the "Disclaimer" below for more important information.

Fund Performance (Net) as at: 31 May 2017

-2.03%

1 month

2.08%

3 months

5.26%

1 year

5.89%

3 years (p.a.)

12.46%

5 years (p.a.)

-

10 years (p.a.)

7.66%

Since inception (p.a.)

Past performance is no indication of future performance
1. After all fees and expenses and assumes all distributions are reinvested and inclusive of franking credits received.
2. Fund inception date is 5 September 2006.

Unit Prices and Distributions

To view historical unit prices and distributions click here

Cumulative Fund Growth

loading...
As at Date: 31 May 2017
Inception Date: 30 Sep 2009
Past performance is no indication of future performance
1 After all fees and expenses and assumes all distributions are reinvested and inclusive of franking credits received.

Our Team

Catherine Allfrey
Catherine Allfrey
Principal and Portfolio Manager
Graeme Burke
Graeme Burke
Principal and Portfolio Manager
Raaz Bhuyan
Raaz Bhuyan
Principal and Portfolio Manager

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