VGI Partners Global Investments
About this Fund
|FUND MANAGER||VGI Partners|
|ASSET CLASS||LISTED INVESTMENT COMPANY|
|INVESTMENT STYLE||VG1 is a concentrated and actively managed portfolio predominantly comprised of Long and Short Positions in global listed securities.|
|INVESTMENT PROFILE||VG1 is designed to deliver superior risk adjusted returns over the long term (more than five years) with a focus on capital preservation.|
|CURRENCY MANAGEMENT||Active management|
|DISTRIBUTION FREQUENCY||as deemed|
|NO. OF HOLDINGS||10-25 long positions / 10-35 short positions|
|FEES||1.50% (plus GST) p.a.|
Benefits of investing in VG1
An investment in VG1 aims to provide investors with:
access to a concentrated Portfolio that:
access to an Investment Strategy and an investment manager that, until the establishment of this Company, had only been accessible to wholesale investors with a $1 million minimum investment; and
benefit from an investment manager, VGI Partners Pty Limited, that:
About the Fund
In the Manager's view, superior investing must be viewed in terms of risk adjusted returns.
The Manager takes this risk adjusted return philosophy, and implements that through three key tenets of capital preservation, superior long term compound growth and concentration. These key tenets can be summarised as follows:
The Manager invests on a global basis, seeking out what it considers to be the best investment opportunities in any country with a legal system with which it feels comfortable. This is complemented with opportunistic short selling of low quality businesses that are typically considered by the Manager to be structurally challenged, poorly managed and materially overvalued. The Manager's philosophy is to employ a buy and hold' strategy for Long Positions and to generate long term compound returns.
The Manager believes that long term business success is achieved through operating where you have a competitive advantage and that in the business of investing, competitive advantage is obtained through superior knowledge and analysis. The Manager also believes that a long term investment horizon provides a competitive advantage in an investment world which is increasingly focused on the short term.
The Company's investment objectives are to:
How we invest your money
The Company's Investment Strategy is to create a concentrated Portfolio, predominantly comprised of Long and Short Positions in global listed securities, actively managed with a focus on capital preservation.
The Company's Investment Strategy will be implemented by the Manager and is designed to capitalise on the Manager's disciplined investment approach and intensive research and review process. When assessing investment opportunities, the VGI Partners Investment Team, and the analysts that support them, will undertake a comprehensive bottom-up' approach in identifying, researching and valuing investment opportunities.
The Portfolio will be constructed in accordance with the Manager's investment philosophy which is based on the key tenets of capital preservation, superior long term compound growth and concentration. The Manager will seek to buy and hold' long term investments in what it considers to be great businesses that are not fully valued by the market. The Manager may also short sell securities which it considers to be of low quality and materially overvalued by the wider market.
The Company's Portfolio is expected to be concentrated on the long side. The Company will typically invest in between 10 to 25 Long Positions, of which 10 to 15 will be considered core Long Positions. The top five Long Positions within the Portfolio will represent on average between 40-50% of the Portfolio's NAV at any given time. The Company will hold a net cash buffer (that it may deploy quickly in any period of market or stock specific volatility). In addition, the Company will hold cash or cash equivalents when attractively valued securities cannot be found.
In the Board's view, the Company's Investment Strategy offers investors an alternative to more traditional long only' funds, which largely rely on a rising share market to generate returns.