CHARITABLE AND COMMUNITY INVESTOR FUND

Transcription

1 CHARITABLE AND COMMUNITY INVESTOR FUND Specialist investment manager information Issued 23 December 2015 The Charitable and Community Investor Fund invests in the single asset class funds to gain exposure to all the main asset classes. The single asset class funds then invest with the specialist investment managers. CHARITABLE AND COMMUNITY INVESTOR FUND CASH DIVERSIFIED CREDIT REAL ESTATE AUSTRALIAN SHARES INCOME ALTERNATIVES GROWTH ALTERNATIVES Bentham Asset Renaissance Asset Resolution Capital Cooper Investors Kaplan Funds Renaissance Asset AQR Bentham Asset Hastings Westbourne Capital Various hedge fund managers 1 Ascribe Capital APN Property Group Archer Capital Colony Capital Franklin Templeton Hamilton Lane Hastings H.I.G ICG ICG Longbow KPS Capital Partners Magellan Oak Hill Advisors Oaktree Palisade Wellspring Various hedge fund managers 2 1 A panel of income hedge fund managers will be appointed over time. 2 A panel of growth hedge fund managers will be appointed over time. 1

2 THE SPECIALIST INVESTMENT MANAGERS The specialist investment managers for the Funds are outlined below. All figures relating to funds under management are as at 30 September 2015 unless otherwise stated. Ascribe Capital ( Ascribe ) is a New York-based private investment firm managing approximately $2 billion of long-term capital focused on investing in the debt, and sometimes equity, securities of middle-market companies. Ascribe invests in securities of companies that may be stressed or undergoing operational, financial, or other challenges, and in securities trading at a discount to intrinsic value. Ascribe s long-term capital and flexible mandate enables it to act as a true partner to management teams and other investors seeking non-traditional capital solutions to complex strategic and operational objectives. Ascribe is an affiliate of American Securities LLC, a leading U.S. private equity firm. Including its affiliates, American Securities has more than $15 billion under management. APN Property Group Limited ( APN ) is a specialist Australian real estate investment manager that actively manages real estate investment funds on behalf of retail and institutional investors. Since 1996, APN has delivered income focused real estate investments for more than 100,000 investors and currently manages more than $2.2 billion (as at 30 June 2015) of real estate and real estate securities. Focusing exclusively on real estate over many years provides a depth of understanding which together with a highly disciplined investment approach drives the firm s objectives to deliver superior investment performance and outstanding service. APN operates through its subsidiary APN Funds Limited (AFSL ) which is overseen by an independent board of directors. APN s team of investment professionals possess deep real estate experience spanning several property cycles. Investment decisions are supported by extensive research and valuation processes that have been developed over more than 20 years. APN is listed on the Australian Securities Exchange (ASX Code: APD) and is based in Melbourne. More information on APN is available at AQR Capital, LLC ( AQR ), is a global investment management firm founded in The firm is based in Greenwich, Connecticut, with offices in Boston, Chicago, Los Angeles, London and Sydney. As of September 30, 2015, AQR had approximately $135.3 billion* in assets under management and approximately 600 employees. AQR takes a systematic, research-driven approach, applying quantitative tools to process fundamental information and manage risk. Investment decisions across all funds are made using a series of global asset allocation, arbitrage and security selection models, and are implemented using proprietary trading and risk-management systems. Both the traditional benchmark and market-neutral strategies are managed by the same portfolio teams and driven by the same underlying research. * Includes assets managed by CNH Partners, an affiliate of AQR. Archer Capital Pty Ltd ( Archer Capital ) is one of Australia s leading private equity firms with $2 billion of capital under management. Established in 1997, Archer Capital specialises in mid-market leveraged buyouts in Australia and New Zealand and favours businesses with enterprise values of between $150 and $700 million with strong market positions, growth potential and significant opportunities to improve operational performance. Based in Sydney, Archer Capital s buyout team possess significant general management and operational expertise and a hands-on operational approach is an essential part of its investment process, from opportunity assessment to ongoing portfolio company management. Archer Capital also considers an active partnership with company management as an essential foundation for success in increasing and realising the value of a business. Bentham Asset ( Bentham ) is a specialist global credit investment manager, based in Sydney. Bentham s investment philosophy is based on a strong credit culture and a systematic investment process, with a focus on preservation of principal and protection against downside risk. Bentham has a team of eight located in Sydney. Bentham has sub-advisory investment management agreements with the Credit Suisse Credit Investment Group, which has 28 investment staff in New York and London. Bentham has a strong track record of actively managing global diversified credit and fixed interest portfolios for Australian investors, the oldest fund was established in Bentham manages both global multi-asset credit strategies and standalone strategies that include exposures to corporate credit (investment grade and high yield), syndicated loans, securitised credit, convertible bonds and capital securities. 2

3 Colony Capital, Inc. ( Colony ) is a publicly traded real estate and investment management firm headquartered in Los Angeles, California with 14 offices in 10 countries and more than 300 employees. Colony has a global platform which has invested $63 billion in over 39,000 real estate assets and loans, private equity, structured credit and listed real estate securities since Our investment strategy is dynamic and responsive to specific cycle opportunities, targeting attractive risk-adjusted returns through a balanced combination of current yield and capital appreciation. Cooper Investors is an Australian based specialist equity fund manager with funds under management of approximately $10 billion. They use their VoF method (Value Latency; Operating, Industry and Strategic Trends; Focused Industry and Behaviour) to identify market opportunities. Cooper Investors is an organisation founded on deep, cultural values (humility; intentionality; curiosity; focus and authenticity). It is 100% employee and owner operated. The company commenced operations in 2001 and manages money for a range of clients including large pension and superannuation funds, religious institutions, Australian State Government agencies, education endowments, charities and high net worth individuals. Cooper Investors is a long term, active investors who engages extensively with boards and management. The team is intensely focused on allocating long term capital to quality companies with a value proposition and adds value through performance, proper policies and A grade administration. Franklin Templeton Australia Limited ( Franklin Templeton ) is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN] a global investment management organisation operating as Franklin Templeton. Franklin Templeton provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 150 countries. Through specialised teams, Franklin Templeton has expertise across all asset classes -- including equity, fixed income, alternative and custom solutions. Franklin Templeton s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, Franklin Templeton has more than 65 years of investment experience and over A$1 trillion in assets under management as of 31st October Hamilton Lane Advisors, L.L.C. ( Hamilton Lane ) is an independent alternative investment management firm providing innovative private markets solutions to sophisticated investors around the world. The firm has been dedicated to private markets investing for more than two decades and as of September 30, 2015 has more than 250 employees operating in offices around the world. For more information, please visit: Hastings is a specialist global infrastructure manager focused exclusively on equity and debt investing. Hastings is dedicated to transforming global infrastructure investment opportunities to deliver long-term value for its investors. Hastings established one of the first unlisted infrastructure equity funds, in 1994 and one of the first infrastructure-focused debt funds, in 1999 and continues to develop innovative infrastructure investment solutions. Since its establishment in 1994, Hastings has realised consistently strong growth and as at September 2015 it had A$11.8 billion in funds under management. It manages these funds on behalf of 60 institutional investors and was actively manages more than 30 equity and 25 debt infrastructure assets globally. Hastings is an active asset manager and investor with considerable experience across selected sectors including airports, toll roads, seaports, gas and electricity transmission and water utilities. With more than two decades managing infrastructure it remains one of the longest-running, most-qualified and successful infrastructure managers. Hastings has a proven investment and asset management track record through its strong fiduciary culture and single focus on core infrastructure equity and debt. Hastings operates as a globally integrated business with offices in Australia (Melbourne, Sydney), the US (New York), the UK (London) and Asia (Singapore, Seoul), allowing it to mobilise resources as required and to move quickly on opportunities for investors. Hastings employs approximately 100 staff globally and the team covers portfolio construction and management, asset acquisition and origination, asset management, business development, client services and reporting. Hastings clients benefit from its ability to source new opportunities, while simultaneously actively managing assets and implementing the overall portfolio strategy. Its disciplined approach delivers reliable, consistent and repeatable returns over time. 3

4 H.I.G Capital ( H.I.G ) is a leading global private equity investment firm with $19 billion of equity capital under management (based on total capital commitments to funds managed by H.I.G. Capital and its affiliates). Based in Miami, and with offices in New York, Boston, Chicago, Dallas, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm s current portfolio includes over 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at ICG is a specialist asset manager with over 26 years history in private debt across the globe. We are defined by our ability to generate income and consistently high returns whilst heavily protecting investment downside. This is achieved through our expertise in investing across the capital structure. We combine flexible capital solutions, local access and insight and an entrepreneurial approach to give us the edge in our markets. We are committed to innovation and pioneering new strategies to invest across the capital structure where we can deliver value to our investors. We are listed on the London Stock Exchange (ticker symbol: ICP), and regulated in the UK by the Financial Conduct Authority (FCA). Further information is available at: ICG-Longbow, the real estate division of ICG plc, is an asset manager focused on the origination and management of UK commercial real estate debt. ICG-Longbow currently has assets under management and investor commitments in excess of 2.3bn in seven investment vehicles. As at 30 September 2015, ICG-Longbow has provided approximately 2.1 billion of capital across its core strategies of senior debt, whole loans, mezzanine and development finance. The senior management team has an average of 21 years experience in direct property, financing and investment management. Kaplan Funds Pty Limited ( Kaplan ) was established in 1998 exclusively for wholesale clients and employs an absolute return approach to investment management. Kaplan aims to achieve positive returns under most conditions with an emphasis on income generation during high risk periods to produce consistent returns with low volatility. Kaplan manages in excess of $1.2 billion. KPS Capital Partners, LP ( KPS ) is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $5.6 billion of assets under management. KPS seeks to realize significant capital appreciation by making controlling equity investments in companies across a diverse range of manufacturing industries experiencing a period of transition or challenged by the need to effect immediate and significant change. KPS creates value for its investors by seeing value where others do not, buying right and making businesses better. The KPS investment strategy is based primarily upon partnering with world-class management teams to effect material and sustainable improvements in the operations of its businesses. Thereafter, KPS focuses on growing its businesses, both organically and through strategic acquisitions. As of September 30, 2015, the KPS Funds portfolio companies have aggregate annual revenues of approximately $5.8 billion, operate 96 manufacturing facilities in 23 countries, and employ approximately 42,000 associates, directly and through joint ventures worldwide. The KPS investment strategy and portfolio companies are described in detail at Magellan Asset Limited ( Magellan ) is a Sydney-based investment management firm that oversees AUD $38.7bn (as at 30 September 2015) in Global Equity and Listed Infrastructure assets. Magellan manages investment strategies for high net worth and retail investors in Australia and New Zealand. It also manages segregated, globally-focused investment funds for institutional investors internationally. The company is a wholly owned subsidiary of Magellan Financial Group Limited (MFG), which is listed on the Australian Securities Exchange (ASX). Magellan s investment philosophy is straightforward: it seeks to achieve attractive riskadjusted returns whilst minimising the risk of permanent capital loss. Each of Magellan s funds seek to invest into a portfolio of global companies trading at a discount to their assessment of value. 4

5 Oak Hill Advisors, L.P., including its affiliated investment advisors and predecessor firms (together, OHA ) is a leading independent investment firm specialising in high yield bonds, leveraged loans, distressed investments, structured products, non-performing and performing mortgages, private debt and special situations. The firm s investment activities are concentrated in the North American and European markets. With approximately $26 billion of capital under management as of October 2015, OHA manages long-only funds, distressed funds, credit hedge funds, other specialty credit funds and customised mandates. The firm s investment activities are driven by a fundamental value-oriented philosophy focused on credit analysis, relative value analysis, risk-adjusted return generation, loss avoidance and active risk management that has been in place for more than two decades. The firm s investors are global and include pension funds, sovereign wealth funds, insurance companies, foundations, endowments, fund of funds and family offices. Oaktree is a leader among global investment managers specialising in alternative investments, with $100 billion in assets under management as of September 30, The firm emphasises an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Headquartered in Los Angeles, the firm has over 900 employees and offices in 17 cities worldwide. Palisade Investment Partners Limited ('Palisade') is a specialist infrastructure manager operating within the Pinnacle Investment Group Palisade provides institutional investors with access to Australian infrastructure assets through tailored direct investment portfolios and co-mingled funds. Its multi-disciplinary and experienced team focuses on attractive mid-market assets that are essential to the efficient functioning of the communities and economies they serve. Palisade aims to provide investors with stable inflation hedged cash flows and moderate growth, through a diversified, well-constructed portfolio and has funds under management and commitments as at 30 September 2015 of over $2.0 billion. Investment Limited ( ) is one of Australia s leading investment managers, with $28.4 billion in funds under management (as at 30 September 2015). is part of the Group, which has been in operation for over 125 years. By employing some of the industry s best investment specialists and applying a proven investment philosophy, has been able to help generations of Australians manage their wealth. Renaissance Asset ( Renaissance ) is a boutique investment manager that was established in 2003 and it specialises in the management of Australian smaller companies portfolios and listed property securities portfolios. In smaller companies, Renaissance employs an active, bottom up investment style, focusing on building a portfolio of quality smaller companies that are trading on a discount to their assessed valuations. The manager will rotate between different securities based on its assessment of valuation and the risk and return profile of the companies. The portfolio typically holds between 40 and 100 companies. In listed property securities, Renaissance employs an active, value style, and focuses on bottom-up stock selection. Mispriced securities are identified by the manager using its own research and propriety value ranking system. Stock-specific and portfolio risk controls are then overlaid to determine portfolio weights. Resolution Capital Limited ( Resolution Capital ) is a specialist investment manager that focuses on managing portfolios of global listed Real Estate Investment Trusts ( REITs ) and other real estate securities. Resolution Capital was established in 2004 and is based in Sydney with an office in New York and London. Resolution Capital is an active investment manager, which runs a concentrated portfolio of 30 to 60 stocks. Resolution Capital believes that the ultimate driver of returns from REITs and real estate securities is the quality and level of sustainable cash earnings generated by the underlying real estate. As a result, Resolution Capital s investment process is focused on evaluating these cash flows consistently across real estate sectors and regions. 5

6 Franklin Templeton Australia Limited ( Franklin Templeton ) is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN] a global investment management organisation operating as Franklin Templeton. Franklin Templeton provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 150 countries. Through specialised teams, Franklin Templeton has expertise across all asset classes -- including equity, fixed income, alternative and custom solutions. Franklin Templeton s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, Franklin Templeton has more than 65 years of investment experience and over A$1 trillion in assets under management as of 31st October Westbourne Capital ( Westbourne ) is a specialist investment manager solely focused on investing in senior and subordinated infrastructure debt globally on behalf of institutional clients. Westbourne holds investment commitments in excess of $5 billion from more than 25 institutional clients including sovereign wealth funds, pension funds and insurance companies. Westbourne believes that attractive risk adjusted returns can be generated from investment in the debt of infrastructure assets which operate in an environment supported by regulation, contracts or monopoly features. Westbourne has an experienced team with a long track record of originating, investing and managing infrastructure debt investments globally. Westbourne is headquartered in Melbourne and retains a representative office in London. CONSENTS All companies mentioned in this document have consented to the statements made by them and being included in the form and context in which such statements and information appear. The specialist investment managers have prepared and consented to the statements about them being included. The companies that have consented have not withdrawn their consent before the issue date of this document and have not authorised or caused the issue of the PDS into which this document is incorporated. This information has been prepared by Investment Limited (PIML) ABN , AFSL It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. The PDS for the Select Investment Funds, issued by PIML, should be considered before deciding whether to acquire or hold units in the fund. The PDS can be obtained by calling or visiting our website No company in the Group ( Group means Limited ABN and its subsidiaries) guarantees the performance of any fund or the return of an investor s capital. 2266_1215 MORE INFORMATION Investor Services selectfunds@perpetual.com.au