“The Pengana Global Small Companies Fund will invest worldwide, focusing on global stocks capitalised under $US10billion, with a median market cap expected to be less than $US3billion. The mandate will be for 30-80 stocks as we believe that a concentrated fund will outperform given the quality of smaller company stocks available globally,” said Russel Pillemer, […]
Pengana Capital
Pengana Australian Equities Fund: Key Investment Themes March 2015
Interest rate cuts and lower energy prices providing near term support for consumer The impact of lower interest rate cuts and energy (petrol) prices is having a positive impact on consumer spending in low to mid value discretionary spending. Virtually all consumer facing companies reported a strong acceleration in activity in the months of January […]
5 Small Cap Investment Themes from Pengana Emerging Companies Fund
1) 2014 year of the IPO – around 40 industrial floats over the past year. Due to the Global Financial Crisis (GFC) there was a backlog of businesses sitting on the side lines awaiting an improved stockmarket to enable the listing of these companies. With improved investor confidence the floodgates have opened and around 40 […]
Retail investors emulate HNW counterparts via market-neutral funds
Once the domain of the very rich and institutional investors—now available Once the domain of the ultra high-net-worth and institutional investors, a growing number of retail investors are achieving similar levels of risk minimisation by tapping into the low or zero correlation strategies adopted by market-neutral funds. Much of the success of market-neutral funds says […]
Competition in market-neutral space to intensify: Pengana
Investors want low exposure to market movements Pengana Market Neutral Fund is careful not to have too many large bank shares or resources stocks which throw overall market performance out of whack …… limits each stock position to 3.5% Given investor dislike for volatility that drives equities up or down 20 to 40%, alternatives like […]
Starting with a position on risk and then build the portfolio
1. Start with a position of risk (how much risk?) 2. Build the portfolio around that risk level 3. Purest form of stock selection because it strips out all systematic risk says Pengana Market-Neutral’s Phillip Boustridge “After five years of solid performance, retail investors are now recognising what family office and high-net-worth counterparts have […]
Investors should look to alpha-focused strategies because they do not depend on market direction
Look to diversify in to alpha Investors should look to alpha-focused strategies because they do not depend on market direction Equity market beta – the return attributable to the market only – is a volatile and unpredictable source of returns SYDNEY November 2013 – Investors should look to alpha-focused strategies because they do not depend […]
Pengana sees a positive impact on consumer and business sentiment from stronger asset prices
SYDNEY Monday 11 November 2013 Highlights from Pengana Capital Australian equities fund manager Rhett Kessler Pengana continues to be vigilant against the onset of inflation and its negative impact on wealth creation several important factors are having a positive impact on consumer and business sentiment: certainty after a 9-month election period; stronger asset prices (in […]