Perpetual Wholesale Geared Australian Share Fund
The Perpetual Geared Australian Share Fund is an actively managed portfolio offering higher potential returns through gearing (borrowing within the fund). With broad market exposure, it aims to provide long-term capital growth and regular income.
At Perpetual, we seek quality companies with sound management, conservative debt levels, recurring earnings and a quality business model. We only invest in a company when we believe its share price is attractive relative to its return potential.
While all geared investments increase the impact of volatility, the geared fund’s benefits include: no margin calls, no credit checks and no need for collateral or assets as security.
Features and Benefits
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Proven value-investing approach
We invest in quality companies that are undervalued, believing this approach can generate good long-term returns.
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Borrowing to boost potential returns
The return potential of investment in Australian shares is boosted by gearing (borrowing) with the Fund.
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Depth of research
The equity team conducts more than 1,000 company meetings or calls per year. This bottom-up research is a key component of stock selection.
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Experienced team
The Fund is managed by one of Australia’s largest and most experienced equity teams.
Perpetual Wholesale Geared Australian Share Fund
Pricing & Performance
Performance as at 31/01/2020
Returns as at 31/01/2020
| Growth % | Distribution % | Total % | |
|---|---|---|---|
| 1 month | 8.38 | -- | 8.38 |
| 3 month | 5.03 | 4.25 | 9.28 |
| 6 month | 4.93 | 4.25 | 9.18 |
| 1 year | 25.88 | 19.62 | 45.50 |
| 3 year | 2.33 | 13.46 | 15.79 |
| 5 year | -8.66 | 17.89 | 9.24 |
| 10 year | 1.05 | 12.14 | 13.19 |
Distributions
| Frequency | Half Yearly |
| Cents per Unit | 8.630 |
| Reinvestment Price | 2.132 |
Fund Commencement Date
| March 2003 |
Fund Profile
Details & Fees
About this fund
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Fund Manager
Perpetual Investment Management Limited
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Asset Class
Australian shares
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Suggested Length
7 years or longer
Investment Objective
Aims to: enhance long-term capital growth through borrowing (gearing) to invest predominantly in quality Australian industrial and resource shares; and outperform the S&P/ASX 300 Accumulation Index (before fees and taxes) over rolling three-year periods.
Investment Approach
Perpetual researches companies of all sizes using consistent share selection criteria. Perpetual's 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
- recurring earnings.
The gearing level of the Fund must be kept within pre-determined guidelines. Within these, Perpetual aims to ensure that the gearing level is maximised, subject to the cost of borrowing being adequately covered by net income.
The Fund may have up to 20% exposure to investments in international shares.
Derivatives may be used in managing the Fund, including for gearing purposes.
Investment Details
| Minimum Initial Investment | $25,000 |
| With Savings Plan | |
| Minimum Initial Investment | $25,000 |
| Monthly Minimum | $100 |
| Minimum Additional Investment | $2,000 |
Fees
| Entry | Nil |
| Exit | Nil |
| Management Fee (p.a.) | 1.17%. Refer to PDS for Management Costs. * |
| Buy / Sell Spread | 0.375% / 0.375% |
| *If the average gearing level is 50%, the ongoing fee will be 2.34% of net asset value. If the average gearing level over the year is higher than 50%, the ongoing fee will be higher than 2.34%. | |
Investment Guidelines
| Australian shares | 90 - 100% |
| Cash | 0 - 10% |
| Gearing level | 0 - 60% |
Distribution
| Half Yearly |
| June 30, December 31 |
How to Invest
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Perpetual Wholesale Funds feature Perpetual’s leading investment management capabilities. They are designed for individual and wholesale investors, and super fund trustees, with $25,000 or more to invest. You can also invest through investor directed portfolio services.
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Making an investment
Review the Product Disclosure Statement (PDS) and related documents to ensure you understand how the fund works and the risks involved.Online Application
Mailing and application details address
Send your completed application & identification documents to:
Perpetual Wholesale Funds
GPO Box 4171, Sydney NSW 2001
> Customer Identification Requirements
All forms, offer documents and PDS’s can be found in Forms, PDS's and Offer Documents page in our Resources section.
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If you are an institutional investor
Please contact one of our institutional relationship managers or phone 1800 110 941.
Got a question?
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Vince Pezzullo
Deputy Head of Equities, Portfolio Manager
Australian Share, Geared Australian Share, Direct Equity Alpha, Perpetual Equity Investment CompanyBComYears of experience: 25
Years at Perpetual: 12
Vince is the Deputy Head of Equities and the Portfolio Manager for Australian Share, Geared Australian Share, Direct Equity Alpha and the Perpetual Equity Investment Company (ASX:PIC).
Vince joined Perpetual Investments in July 2007 as an Analyst and since that time has covered the chemicals, diversified financials, banking, telecommunications, building materials and REITS sectors.
Prior to joining Perpetual, Vince was a senior portfolio manager/analyst in the large cap Australian equities team at Deutsche Asset Management and led the top 100 equities team. In addition, he had stock research responsibilities across a large number of sectors.
Vince was also a portfolio manager for a number of client portfolios and researched international stocks as part of the international equity division State Super (subsequently Deutsche). Prior to this, Vince worked in corporate finance and foreign currency for Monte Paschi Australia Limited.
Vince has a Bachelor of Commerce with a major in Economics and Finance.
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