Australian Share Fund

Fund Update 30^th September 2019

Manager: Calnan Flack

Model Portfolio Name: Australian Share Fund

Platform: Smartwrap

Investment Objective

With an “Opportunistic” investment style, the objective of the Australian Share Fund is to produce investors with a mix of income and capital growth over the long term for a portfolio of Australian Shares drawn predominately from the ASX300. Income may include some franking credits.

Review

Despite continued market uncertainty due to issues such as the UK’s parliamentary BREXIT debacle and impeachment claims against President Trump the Calnan Flack Australian Shares Fund has continued to perform well.

The focus is to produce a long-term outperformance of the benchmark which the portfolio is continually achieving.

In line with the investment mandate higher levels of cash were held at times during the quarter when the Investment Team considered the market had an increased downside risk.

Particularly strong returns were derived from holdings in CSL (CSL) and Macquarie Group (MQG)

Although it has only recent been added to the portfolio JB-HiFi (JBH) also performed strongly on the back of an increased profit report.

Lend Lease (LLC) also provided significant gains to the portfolio upon rumours that it is a takeover target. The global construction giant according to continual speculation is allegedly in the cross hairs of Japanese suitor Mitsui although no formal offer has yet been tabled.

The Investment Team continues to hold a bullish view for Equity markets with the expectation that the portfolio will continue to hold higher weights of growth styled assets for the near future.

Percentage Returns 

Returns 

IMPORTANT NOTICE

Performance of your investment in the fund is not guaranteed, past performance is not a reliable indicator of future performance. Percentage returns quotes have been calculated using the Time Weighted Return (TWR) method. Performance is calculated using the closing prices of the portfolio and will include any distributions, income entitlements but excludes franking credits, taxes and fees.
This document provides general information only and has not been prepared having regard to your objectives, financial situation or needs. Before making an investment decision, you need to consider whether this information is appropriate to your objectives, financial situation, and needs. No person should act on the basis of any matter contained in this document without obtaining specific professional advice. This is not an offer document and does constitute a recommendation, offer or a solicitation of an offer to buy or sell securities. This material has been prepared as general information only and is only intended to provide a summary of the subject matter covered. Powerwrap Limited (AFSL 329829) is the issuer of the product Smartwrap upon which Calnan Flack Pty Ltd is a model manager. Further information and disclosure of all fees can be found in the Product Disclosure Statement and accompanying Approved Product List available on the Powerwrap website: www.powerwrap.com.au
This document contains or is based upon information that we believe to be accurate and reliable. While every effort has been made to ensure its accuracy Calnan Flack Pty Ltd makes no representations or warranties as to the accuracy of the information presented and takes no responsibility or liability (including for indirect, consequential or incidental damages), for any error, omission or inaccuracy in the data supplied. To the fullest extent allowed by law, Calnan Flack Pty Ltd, PGW Financial Services Pty Ltd, and Powerwrap Limited exclude all liability (whether arising in contract, from negligence or otherwise) in respect of all and each part of the document, including without limitation, any errors or omissions. The price and value of investments and their income will fluctuate.
Calnan Flack Pty Ltd is an Authorised Representative of PGW Financial Services Pty Ltd – AFSL 384713 ABN 15 123 835 441. Copyright © Calnan Flack Pty Ltd 2019. All rights reserved