Perpetual SHARE-PLUS Long-Short

The Perpetual SHARE-PLUS Long-Short Fund invests in companies we believe will rise in value and takes short positions in companies we believe will fall in value.

The Fund offers investors a broader set of investment opportunities: it can take long (to hold) and short (to sell) positions in companies and may hold up to 35% of the portfolio in cash.

We employ our tried and proven bottom-up stock selection process for both long and short positions. Through fundamental company research, we aim to identify opportunities to buy quality, undervalued companies. On the short side of the portfolio we opportunistically target stocks that we expect will underperform. We rarely short the index, we short companies.

Features and benefits

  • OUTSTANDING TRACK RECORD

  • Greater flexibility in implementing ideas

  • Rigorous research is the engine for stock selection

  • head-settings Created with Sketch.

    Specialist shorting expertise

DEMYSTIFYING LONG-SHORT FUNDS

Learn more about the investment approach of the Perpetual SHARE-PLUS Long-Short Fund from Anthony Aboud and Paul Skamvougeras.

Perpetual SHARE PLUS Long Short Fund Meet the team

Perpetual's Long-Short investment team explain their investment approach and how they identify a good shorting opportunity - and why they work so well together.

Anthony Aboud, Portfolio Manager

WHAT ARE THE RISKS?

All investments carry risk. While it is not possible to identify every risk relevant to your investment, we have provided details of the risks that may affect your investment in the relevant product disclosure statement (PDS) or offer document.

You can find PDSs and other documents in our resources section. The relevant PDS, offer documents and forms can also be found in the sections below:


> Investment | > Superannuation | > Retirement

Ways to Invest

So that we can provide you the most relevant information, please begin by selecting your investment type from the options below:

Perpetual SHARE-PLUS Long-Short

Pricing & Performance

Performance as at 31/03/2018

Returns as at 31/03/2018

  Growth % Distribution % Total %
1 month -1.56 -- -1.56
3 month -4.94 -- -4.94
6 month 3.11 0.91 4.02
1 year 2.70 4.05 6.75
3 year -3.93 8.00 4.07
5 year -1.09 10.52 9.43
10 year -- -- --

Unit Prices as at 19/04/2018

Entry
1.531
Exit
1.525
View price history

Distributions

Frequency Half Yearly
Cents per Unit 1.379
Reinvestment Price 1.571
View distributions history

Fund Commencement Date

November 2008

Fund Profile

Details & Fees

About this fund

  • Fund Manager

    Perpetual Investment Management Limited

  • Asset Class

    Australian shares

  • Suggested Length

    5 years or longer

Investment Objective

Aims to provide long-term capital growth and income through investment in quality shares and taking short positions in selected Australian shares. The fund aims to outperform the S&P/ASX 300 Accumulation Index (before fees and taxes) over rolling three-year periods.

Investment Approach

Perpetual Investments researches companies of all sizes using consistent share selection criteria. Perpetual Investments' priority is to select those companies that represent the best investment quality and are appropriately priced. In determining investment quality, investments are carefully selected on the basis of four key investment criteria:
- conservative debt levels
- sound management
- quality business and
- in the case of industrial shares, recurring earnings.
In addition, Perpetual Investments aims to take short positions in Australian shares that it believes will fall in value. The short positions are determined based on each stock's expected returns and the investment constraints (designed to reduce the risks associated with taking short positions).
Derivatives may be used in managing the fund.

Investment Details

Minimum Initial Investment $2,000
With Savings Plan  
Minimum Initial Investment $1,000
Monthly Minimum Nil
Minimum Additional Investment $1,000

Fees

Entry up to 4.0%
Exit Nil
Management Cost (p.a.) 1.98% plus performance fee*
Buy / Sell Spread 0.4% / Nil
Perpetual charges the underlying fund a performance fee if its return exceeds a hurdle return. The performance fee is equal to 13.98% of the difference between the underlying fund's return and the hurdle return. The hurdle return is the return on the S&P/ASX 300 Accumulation Index plus 2% pa. As the hurdle return is based on the return of an index it can be a positive or negative return. The performance fee is payable only if the performance fee is a positive amount and the underlying fund's six month return is positive.

Investment Guidelines

Australian shares 90 - 125%
Cash 0 - 35%
Short positions in Australian shares 0 - 25%
Australian shares (net) 65 - 100%

Distribution

Half Yearly
June 30, December 31

How to Invest

  1. If you are interested in making an investment in Perpetual WealthFocus Wholesale Investment Advantage


    Review the Product Disclosure Statement (PDS) for WealthFocus Investment Advantage and related documents to ensure you understand how the Fund works and the risks involved.

    Send the completed application & documents to the address below.


    > Important information and continuous disclosure

    > Find out more about Perpetual WealthFocus

  2. New and existing investors - Invest using Perpetual’s online application form

  3. Make an additional investment to WealthFocus Wholesale Investment Advantage


    1. Review the current PDS and related documents. They may have changed since you first invested.
    2. Download and complete an Additional Investments form. Send the form to the address below.
    3. If you have online account access, you can complete the additional investment form online.

    All forms, offer documents and PDS’s can be found on Forms, PDS's and Offer Documents page in our Resources section.

Pricing & Performance

Performance as at 31/03/2018

Returns as at 31/03/2018

  Growth % Total %
1 month -1.40 -1.40
3 month -4.03 -4.03
6 month 4.04 4.04
1 year 7.05 7.05
3 year 4.58 4.58
5 year 9.64 9.64
10 year 8.48 8.48

Unit Prices as at 19/04/2018

Entry
4.330
Exit
4.313
View price history

Fund Commencement Date

October 2003

Fund Profile

Details & Fees

About this fund

  • Fund Manager

    Perpetual Investment Management Limited

  • Asset Class

    Australian shares

  • Suggested Length

    5 years or longer

Investment Objective

Aims to provide long-term capital growth and income through investment in quality shares and taking short positions in selected Australian shares. The fund aims to outperform the S&P/ASX 300 Accumulation Index (before fees and taxes) over rolling three-year periods.

Investment Approach

Perpetual Investments researches companies of all sizes using consistent share selection criteria. Perpetual Investments' priority is to select those companies that represent the best investment quality and are appropriately priced. In determining investment quality, investments are carefully selected on the basis of four key investment criteria:
conservative debt levels
sound management
quality business and
in the case of industrial shares, recurring earnings.
In addition, Perpetual Investments aims to take short positions in Australian shares that it believes will fall in value. The short positions are determined based on each stock's expected returns and the investment constraints (designed to reduce the risks associated with taking short positions).
Derivatives may be used in managing the fund.

Investment Details

Minimum Initial Investment $3,000
With Savings Plan  
Minimum Initial Investment $1,500
Monthly Minimum Nil
Minimum Additional Investment $1,000

Fees

Entry up to 4.0%
Exit Nil
Management Cost (p.a.) 2.17%
Buy / Sell Spread 0.4% / Nil
*Perpetual charges the underlying fund a performance fee if its return exceeds a hurdle return. The performance fee is equal to 15.375% of the difference between the underlying fund's return and the hurdle return. The hurdle return is the return on the S&P/ASX 300 Accumulation Index plus 2% pa. As the hurdle return is based on the return of an index it can be a positive or negative return. The performance fee is payable only if the performance fee is a positive amount and the underlying fund's six month return is positive.

Investment Guidelines

Australian shares 90 - 125%
Cash 0 - 35%
Short positions in Australian shares 0 - 25%
Australian shares (net) 65 - 100%

Distribution

N/A

Product Disclosure Statement

How to Invest

  1. If you are interested in making an investment in Perpetual WealthFocus Super Plan


    Review the Product Disclosure Statement (PDS) for WealthFocus Wholesale Super Plan and other offer documents and consider your investment option carefully.

    Send the completed application & documents to the address below.


    > Important information and continuous disclosure

    > Find out more about Perpetual WealthFocus

  2. New and existing investors - Invest using Perpetual’s online application form

  3. If you are an existing investor in WealthFocus Super Plan


    All forms, offer documents and PDS’s can be found on Forms, PDS's and Offer Documents page in our Resources section.

  4. Mailing and application details


    Send the completed application & documents to:

    Reply Paid 4171
    Perpetual WealthFocus Super Plan
    GPO Box 4171
    Sydney NSW 2001


    Customer Identification Requirements

Pricing & Performance

Performance as at 31/03/2018

Returns as at 31/03/2018

  Growth % Total %
1 month -1.59 -1.59
3 month -4.43 -4.43
6 month 4.51 4.51
1 year 7.98 7.98
3 year 5.27 5.27
5 year 10.53 10.53
10 year 9.44 9.44

Unit Prices as at 19/04/2018

Entry
4.759
Exit
4.740
View price history

Fund Commencement Date

October 2003

Fund Profile

Details & Fees

About this fund

  • Fund Manager

    Perpetual Investment Management Limited

  • Asset Class

    Australian shares

  • Suggested Length

    5 years or longer

Investment Objective

Aims to provide long-term capital growth and income through investment in quality shares and taking short positions in selected Australian shares. The fund aims to outperform the S&P/ASX 300 Accumulation Index (before fees and taxes) over rolling three-year periods.

Investment Approach

Perpetual Investments researches companies of all sizes using consistent share selection criteria. Perpetual Investments' priority is to select those companies that represent the best investment quality and are appropriately priced. In determining investment quality, investments are carefully selected on the basis of four key investment criteria:
conservative debt levels
sound management
quality business and
in the case of industrial shares, recurring earnings.
In addition, Perpetual Investments aims to take short positions in Australian shares that it believes will fall in value. The short positions are determined based on each stock's expected returns and the investment constraints (designed to reduce the risks associated with taking short positions).
Derivatives may be used in managing the fund.

Investment Details

Minimum Initial Investment $20,000

Fees

Entry up to 4.0%
Exit Nil
Management Cost (p.a.) 2.17
Buy / Sell Spread 0.4% / Nil
*Perpetual charges the underlying fund a performance fee if its return exceeds a hurdle return. The performance fee is equal to 15.375% of the difference between the underlying fund's return and the hurdle return. The hurdle return is the return on the S&P/ASX 300 Accumulation Index plus 2% pa. As the hurdle return is based on the return of an index it can be a positive or negative return. The performance fee is payable only if the performance fee is a positive amount and the underlying fund's six month return is positive.

Investment Guidelines

Australian shares 90 - 125%
Cash 0 - 35%
Short positions in Australian shares 0 - 25%
Australian shares (net) 65 - 100%

Distribution

N/A

Product Disclosure Statement

How to Invest

  1. The Perpetual WealthFocus Term Allocated Pension Plan is closed to new investors

  2. If you are an existing investor in WealthFocus Term Allocated Pension Plan


    All forms, offer documents and PDS’s can be found on Forms, PDS's and Offer Documents page in our Resources section.

  3. Mailing and application details


    Send the completed application & documents to:

    Reply Paid 4171
    Perpetual WealthFocus Pension Plan
    GPO Box 4171
    Sydney NSW 2001


    Customer Identification Requirements

Pricing & Performance

Performance as at 31/03/2018

Returns as at 31/03/2018

  Growth % Total %
1 month -1.59 -1.59
3 month -4.43 -4.43
6 month 4.51 4.51
1 year 7.98 7.98
3 year 5.27 5.27
5 year 10.53 10.53
10 year 9.44 9.44

Unit Prices as at 19/04/2018

Entry
4.759
Exit
4.740
View price history

Fund Commencement Date

October 2003

Fund Profile

Details & Fees

About this fund

  • Fund Manager

    Perpetual Investment Management Limited

  • Asset Class

    Australian shares

  • Suggested Length

    5 years or longer

Investment Objective

Aims to provide long-term capital growth and income through investment in quality shares and taking short positions in selected Australian shares. The fund aims to outperform the S&P/ASX 300 Accumulation Index (before fees and taxes) over rolling three-year periods.

Investment Approach

Perpetual Investments researches companies of all sizes using consistent share selection criteria. Perpetual Investments' priority is to select those companies that represent the best investment quality and are appropriately priced. In determining investment quality, investments are carefully selected on the basis of four key investment criteria:
conservative debt levels
sound management
quality business and
in the case of industrial shares, recurring earnings.
In addition, Perpetual Investments aims to take short positions in Australian shares that it believes will fall in value. The short positions are determined based on each stock's expected returns and the investment constraints (designed to reduce the risks associated with taking short positions).
Derivatives may be used in managing the fund.

Investment Details

Minimum Initial Investment $20,000

Fees

Entry up to 4.0%
Exit Nil
Management Cost (p.a.) 2.17%
Buy / Sell Spread 0.4% / Nil
*Perpetual charges the underlying fund a performance fee if its return exceeds a hurdle return. The performance fee is equal to 15.375% of the difference between the underlying fund's return and the hurdle return. The hurdle return is the return on the S&P/ASX 300 Accumulation Index plus 2% pa. As the hurdle return is based on the return of an index it can be a positive or negative return. The performance fee is payable only if the performance fee is a positive amount and the underlying fund's six month return is positive.

Investment Guidelines

Australian shares 90 - 125%
Cash 0 - 35%
Short positions in Australian shares 0 - 25%
Australian shares (net) 65 - 100%

Distribution

N/A

Product Disclosure Statement

How to Invest

  1. If you are interested in making an investment in the Perpetual WealthFocus Account Based Pension Plan


    Review the Product Disclosure Statement (PDS) for Perpetual WealthFocus Account Based Pension Plan (which includes the Account Based Pension Plan) and other offer documents and consider your investment option carefully.

    It is likely that the WealthFocus Wholesale Pension Plan will be most suitable for new investors

    > Important information and continuous disclosure

    > Find out more about Perpetual WealthFocus

  2. If you are an existing investor in WealthFocus Account Based Pension Plan


    All forms, offer documents and PDS’s can be found in Forms, PDS's and Offer Documents page in our Resources section.

  3. Mailing and Application Details


    Send your completed application & identification documents to:


    Reply Paid 4171

    Perpetual WealthFocus Wholesale Pension Plan

    GPO Box 4171, Sydney NSW 2001


    Customer Identification Requirements

Perpetual Investment Management Limited ABN 18 000 866 535 AFSL 234426 and Perpetual Superannuation Limited ABN 84 008 416 831 AFSL 225246 are the issuers of the Funds. You should consider the relevant Fund product disclosure statement or other offer document before deciding whether to invest.

Returns have been calculated using exit prices after taking into account all ongoing fees, and assuming reinvestment of distributions. No allowance has been made for entry fees, exit fees or where applicable taxation. Future returns may bear no relationship to the historical information displayed. The returns shown represent past returns only and are not indicative of future returns of a Fund. Returns on a Fund can be particularly volatile in the short term and in some periods may be negative.

Awards and recognition

© 2014 Morningstar, Inc. All rights reserved. Neither Morningstar, nor its affiliates nor their content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. To the extent that any of this information constitutes advice, it is general advice and has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 and/or Morningstar Research Limited (subsidiaries of Morningstar, Inc.) without reference to your objectives, financial situation or needs. You should consider the advice in light of these matters and, if applicable, the relevant Product Disclosure Statement (in respect of Australian products) or Investment Statement (in respect of New Zealand products) before making any decision to invest. Neither Morningstar, nor Morningstar's subsidiaries, nor Morningstar's employees can provide you with personalised financial advice. To obtain advice tailored to your particular circumstances, please contact a professional financial adviser. Please refer to our Financial Services Guide (FSG) for more information www.morningstar.com.au/fsg.asp