Tribeca Global Natural Resources
|Oil, Oil Everywhere so where should we look?|
About this Fund
|FUND MANAGER||Tribeca Global Resources|
|ASSET CLASS||LISTED INVESTMENT COMPANY|
|INVESTMENT STYLE||TGF applies an active long short investment strategy that seeks to profit from the inherent volatility in the Natural Resources Sector.|
|INVESTMENT PROFILE||TGF aims to generate a compound annual return in excess of 15% (after all fees and expenses) to Shareholders over the long term and preserve capital.|
|CURRENCY MANAGEMENT||Active management|
|BENCHMARK||Bloomberg AusBond Bank Bill Index / UBS Australian Bank Bill Index|
|FUND SIZE||Bloomberg AusBond Bank Bill Index / UBS Australian Bank Bill Index|
|NO. OF HOLDINGS||20-60|
Benefits of investing in TGF
TGF aims to provide investors:
with access to a
from a manager, Tribeca Global Resources Pty Ltd (Manager) that:
About the Fund
Tribeca Global Natural Resources offers access to a highly specialized investment approach and proven track record investing in resources globally.
The fund seeks to benefit from the inherent volatility in the natural resource sector, using low net and gross positioning to achieve superior risk adjusted returns with low correlation to major asset classes. Since inception the Fund has exceeded its target of 15-20% p.a. absolute returns, irrespective of macro-economic conditions and commodity price direction.
The Manager's Investment Strategy is an active long short investment strategy that seeks to profit from the inherent volatility in the Natural Resources Sector. The Investment Strategy employs a high conviction approach, leveraging the Investment Team's bottom-up research and specialist knowledge of the entities and commodities within the Company's investible universe.
The Investment Strategy uses a blend of top down macro-economic analysis (to forecast commodity prices) combined with bottom up fundamental analysis. Top down analysis is a critical component of the Manager's investment foundation. This sets in place commodity rankings which the Manager uses to construct Investment Themes, which in turn allows the Manager to conduct focused bottom up analysis on specific investments.
The Company's Investment Guidelines allow for investments in natural resources securities, credit positions (including listed, unlisted, fixed income and debt securities, direct or indirect exposure to shorter term loans and investments in unlisted trusts managed by the Manager), commodities and cash.
How we invest your money
The Investment Strategy employs a high conviction approach, leveraging the Manager's bottom-up research and specialist knowledge of the entities and commodities within the Company's investible universe.
The Investment Strategy will use a blend of top down macro-economic analysis (to forecast commodity prices) combined with bottom up fundamental analysis. Top down analysis is a critical component of the Manager's investment foundation. This sets in place commodity rankings and Investment Themes which in turn allows the Manager to conduct focused bottom up analysis on specific investments. Investment Themes are views (derived from top down and bottom up analysis) which the Manager believes represents an opportunity to generate positive returns over an expected time horizon. By way of example only, an Investment Theme might be forecast growth of electric cars or the increase in demand for commodity inputs to produce batteries. Investments within this theme could include Commodity Positions in cobalt, and Natural Resources Securities in entities that produce batteries and/or electric cars.
The Company has a global mandate which permits investments throughout capital structures and across the value chain within the Natural Resources Sector (subject to restrictions within the Investment Guidelines from time to time). Notwithstanding this broad mandate, the Portfolio is expected to be predominantly comprised of Long and Short Positions in listed Natural Resources Securities and Credit Positions.
The Company will typically invest in a select number of Long and Short Positions (typically between 20 to 60), that the Manager considers attractively valued. The Portfolio will be concentrated, with the top five Investment Themes typically representing between 40% and 50% of the Portfolio's NAV. A maximum of 20% of the Portfolio will be invested in Credit Positions that are not unlisted or listed debt Securities at any given time.
It is expected that the Portfolio will typically have net exposure (that is Long Positions minus Short Positions within the Portfolio) of -20% and 60% of the Portfolio's NAV. Gross exposure within the Portfolio (i.e. the sum of the value of Long Positions, Short Positions and Derivatives) will not exceed 200% (but will typically be between 100% to 140% of the Portfolio's NAV).
The Company's Investment Guidelines permit investments in the following financial products and instruments:
In addition the Company can hold cash and cash equivalents and, in respect of the initial Portfolio, allow the Company to invest in the Manager Loan (see Section 10.2 of the Prospectus for a summary of the Manager Loan).