PERPETUAL SHARE-PLUS LONG-SHORT FUND

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.

 

CONTINUOUS DISCLOSURE & PDS


Features and benefits

  • OUTSTANDING TRACK RECORD

    The Fund has outperformed the Australian sharemarket over the longer term and with lower levels of risk.

  • Greater flexibility in implementing ideas

    By taking long and short positions the Fund has the flexibility to generate returns from rising and falling share prices.

  • Rigorous research is the engine for stock selection

    Perpetual’s bottom-up company research generates the insights that drive our stock selection for both long and short positions. We focus on quality and value to identify companies with the greatest return potential.

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    Specialist shorting expertise

    Perpetual’s equity team has a highly experienced shorting investment capability. This skill and experience has helped the Fund identify shorting opportunities that have added to returns.

Fund Resources

Investments

Festive Season Puts Spotlight on Supply Chain Inflation

With the inflation debate well and truly established as an investment theme, we spoke to Australian supply chain insiders to get a snapshot of exactly what is going on in their businesses. Perpetual SHARE-PLUS Long-Short Fund Portfolio Manager Anthony Aboud takes us through the findings.

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Investments

Spotting the gaps and value traps

As a fundamental value manager, one way we can add value is avoiding stocks which look cosmetically cheap but are in fact value traps.of both our Australian and international businesses to deliver a unique and relevant product to market.

PERPETUAL INDUSTRIAL SHARE Fund

Meet Anthony Aboud and Sean Roger, portfolio managers of the SHARE-PLUS Long-Short Fund.

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

Perpetual Wholesale Share-Plus Long-Short Fund

Pricing & Performance

Performance as at 31/05/2022

Returns as at 31/05/2022

  Growth % Distribution % Total %
1 month -1.46 -- -1.46
3 month 5.36 -- 5.36
6 month 10.94 2.36 13.30
1 year 12.44 2.39 14.84
3 year 8.29 3.42 11.70
5 year 4.42 5.31 9.73
10 year 5.99 6.57 12.56

Unit Prices as at 30/06/2022

Entry
3.039
Exit
3.028
View price history

Distributions

Frequency Half Yearly
Cents per Unit 6.685
Reinvestment Price 3.139
View distributions history

Fund Commencement Date

June 2009

Target Market Determination (TMD)

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 predominantly in selected Australian shares.

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.

In addition, Perpetual aims to take short positions predominantly 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).
The Fund may have up to 20% exposure to investments in international shares.
The Fund may have up to 10% exposure to short positions in international shares.
Derivatives may be used in managing the Fund.

Investment Details

Minimum Initial Investment $25,000
With Savings Plan  
Minimum Initial Investment $25,000
Monthly Minimum Nil
Minimum Additional Investment $2,000

Fees

Entry 0
Exit 0
Management Fee (p.a.) 0.99%. Refer to PDS for Management Costs.
Performance Fee (p.a.) 13.98% of outperformance*
Buy / Sell Spread 0.18% / 0.18%
The performance fee is equal to 13.98% of the difference between the Fund's daily return and its performance hurdle. The performance hurdle for this fund is the S&P/ASX 300 Accumulation Index plus 2% per annum. Further information is available within the PDS.

Investment Guidelines

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

Distribution

Half Yearly
June 30, December 31

How to Invest

  1. 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.

    Continuous disclosure and updates for Perpetual Wholesale Funds

    Continuous disclosure and updates for Perpetual Pure Series Funds

    Find out more about Perpetual Wholesale Funds

  2. 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


    Apply for Perpetual Wholesale funds

     

    Apply for Perpetual Pure series funds


     

    Send your completed application & identification documents to:

    Perpetual Wholesale Funds

    GPO Box 4171, Sydney NSW 2001

    If applying to Perpetual Pure Series Funds:

    Perpetual Pure Series 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.

  3. If you are an institutional investor

     

    Please contact one of our institutional relationship managers or phone 1800 110 941. 

Perpetual Investment Management Limited ABN 18 000 866 535 AFSL 234426 and/or 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. The product disclosure statements and target market determinations for the Funds are available on this website.

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.

Have any questions?

Call your Perpetual Business Development Manager on 1800 062 728.

Awards and recognition

The Zenith Fund Awards were issued on 15 October 2021 by Zenith Investment Partners (ABN 27 130 132 672, AFSL 226872) and are determined using proprietary methodologies. The Fund Awards are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. To the extent that the Fund Awards constitutes advice, it is General Advice for Wholesale clients only without taking into consideration the objectives, financial situation or needs of any specific person. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice. Investors should obtain a copy of and consider any relevant PDS or offer document before making any investment decisions. Past performance is not an indication of future performance. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only. 

The Fund's investment universe allows it to invest from time to time directly or indirectly in stocks listed on sharemarket exchanges outside of Australia. To help manage the risk profile of the Fund relative to the Australian sharemarket, exposure to stocks listed outside of Australia is limited to 20% and any non-Australian dollar assets may be hedged to the Australian dollar.

The net market exposure is the value of the Fund's long positions minus the value of its short positions. The Fund primarily holds short positions in Australian Shares but may have up to 10% exposure to short positions in global shares.

This information has been prepared by Perpetual Investment Management Limited (PIML) ABN 18 000 866 535, AFSL 234426. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information.

The product disclosure statement (PDS) for the Perpetual Pure Equity Alpha Fund, issued by PIML, should be considered before deciding whether to acquire or hold units in the fund. The PDS and Target Market Determination can be obtained by calling 1800 022 033 or visiting our website.

No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital.