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* This is an annualised interest rate from the past seven days. For actual performance for our Cash Funds, please view the performance page.
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Strategy Overview
Key Facts
Performance returns are calculated net of management fees and transaction costs. Performance returns for periods greater than one year are annualised. Past performance is not a reliable indicator of future performance.
Why invest in small and mid cap companies?
By favouring companies with sustainable competitive advantages, strong financials and predictable earnings we seek to deliver superior returns and protect from downside risks.
Value is discovered through a bottom-up investment approach with an emphasis on industry, financials and management.
Consistent absolute returns have been delivered through all investment cycles over the medium and long term.
How we invest in Australian equities
A company to watch
NextDC, a premier data centre operator, is just one of many high-quality medium-sized companies operating across all areas of the Australian economy.
By favouring companies with sustainable competitive advantages, strong financials and predictable earnings, we seek to deliver superior returns and minimise downside risks. Value is discovered through a bottom-up investment approach.
The team first invested in Australian data centre operator NextDC in 2014 because they could see that organisations’ data requirements are becoming so large, there is little choice but to outsource to the professionals.
NextDC generates strong cash flow from long term customer contracts – and their clients’ growing data demands. Given the exponential pace of demand, NextDC can confidently reinvest this cash flow in even more data capacity, delivering returns to shareholders above their cost of capital.
As corporate Australia experiments with new technologies such as Blockchain, 5G and Artificial Intelligence, we expect the demand for NextDC’s access to popular cloud vendors will grow.
Dawn Kanelleas
Head of Australian Small and Mid Cap Companies
The niche where function always trumps fashion
Small appliance company Breville is an iconic Australian success story. While many of its competitors are price and fashion led, Breville is truly engineering led, solving consumer problems with a broad range of innovative appliances including an exceptional range of coffee, toastie, waffle and pizza makers.
It has executed a fast growing and sustainable expansion into niche but highly scalable markets in the US, UK and Europe. While we have owned and followed this stock for some time, management quality is one of the key drivers of conviction, and our position has built up in line with increasing confidence around the strategy put in place by CEO Jim Clayton.
He has been the steward of the business since July 2015, constructing a recipe for success through supply chain redesign. The company facilitates direct fulfilment and has invested in product research and development and increased marketing support.
Any stock mentioned does not constitute an offer or inducement to enter into any investment activity.
Responsible investment is led by engagement
Our assessment of Australian small and mid-cap companies includes criteria related to practice, commitment and disclosure of ESG issues by company management, and performance relative to peers. As part of our commitment to responsible investment, we have active, direct dialogue with many company board members and senior management on material ESG issues.
Any stock mentioned does not constitute an offer or inducement to enter into any investment activity.
Meet Dawn Kanelleas
When she’s not gleaning new perspectives from art exhibitions large and small, Dawn Kanelleas curates a portfolio of Australia’s best up-and-coming companies.
Meet the investment team
Dawn Kanelleas
Michael Joukhador
Tahlia Gugusheff
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