Mid Cap Quality Fund

A concentrated portfolio of the highest quality Australian companies.

Overview

The Blackwattle Mid Cap Quality fund is a concentrated yet diversified portfolio of the highest and most improving quality companies on the ASX.

We aim to own a concentrated portfolio of the highest quality companies on the ASX. High quality companies are those with sustainably dominant industry positions and business models, with low levels of concentration, driven by aligned management. The fund is concentrated on the team’s best ideas, driven by fundamental research to establish differentiated views on the outlook of company quality, valuation and earnings. The fund is targeting long term ownership of high-quality companies to generate a consistent outperformance profile, compounding shareholder returns through time.

Partnership

We truly are a partnership.
100% of our staff own equity.

Investment

Zero personal trading (PA) is allowed. We are 100% invested in our portfolios. We have all committed significant personal capital.

Re-Investment

Our corporate profits are reinvested into our portfolios. Our personal salaries are reinvested into our portfolios.

Profit Share

Our Portfolio Managers are aligned with our clients (and their investment results) via clearly defined profit share mechanisms.

Transparency

Timely and transparent communication with our investors. Providing regular access to our investment teams.

Investment Team

Tim Riordan
Portfolio Manager and Partner

Tim Riordan has 25 years’ funds management and accounting experience.

Most recently, Tim was the Head of Direct Equities at Aware Super. Tim was responsible for managing the 11 strong equities team as well as 4 portfolios, with combined FUM of $3.5bn.

Tim’s primary portfolio responsibility was the $2bn ASX mid cap industrials fund which he ran with Michael Teran.

Tim holds a Bachelor of Commerce (Accounting), earned the Financial Risk Manager (FRM) designation and is a Chartered Financial Analyst (CFA) charterholder.

Tim is the Portfolio Manager of the Blackwattle Mid Cap Quality Fund.

Michael Teran
Deputy Portfolio Manager and Partner

Michael is a former Engineer with 12 years’ funds management experience.

He was the Associate Portfolio Manager of the Aware Super Mid-Cap Industrial Fund since 2020 with Tim Riordan, he joined Aware Super in 2019.

Michael was previously a Long-Short Equities Analyst at Point72 Asset Management. He was also an Equities Analyst at Colonial First State (now First Sentier Investors) for 7 years, to focus on Core fundamental portfolios for the ASX200.Michael holds a Bachelor of Engineering (First Class Honours) and a Bachelor of Commerce both from UNSW. Michael is a CFA charterholder.

Michael is the Deputy-Portfolio Manager of the Blackwattle Mid Cap Quality Fund.

Peter Wilson
Senior Investment Analyst

Peter Wilson has over 17 years’ investment experience.

Prior to joining Blackwattle Peter spent 10 years as Director at Credit Suisse Equity Research Australia and Head of Utilities, Building materials and Steel. He also held the position as Senior Commercial Advisor, AGL Energy for 2 years and was also Portfolio Manager, Global Income Trust, Aurora Funds Management for 3 years.

Peter holds a Bachelor of Science (Applied Mathematics), a Bachelor of Commerce (Finance) and is a Chartered Financial Analyst (CFA) charterholder.

Fund Details

Benchmark S&P/ASX300 Accumulation Index – S&P/ASX20 Accumulation Index
Management Fee 0.92% of the Net Asset Value of the Fund of the Fund. Inclusive of Goods and Services Tax (GST) and net of any Reduced Input Tax Credits (RITC)
Performance Fee 15.38% (inclusive of GST and net of any RITC) of the total return of the fund (after deducting Management fees) in excess of the return of the Benchmark during a relevant performance period and provided any underperformance from previous periods has been recovered
Portfolio Allocation Australian and New Zealand equities: 90 – 100% Cash & Cash Equivalents: 0 – 10%
Portfolio Holdings 20 to 35 securities
Suggested Timeframe 5 years or more
Distribution Semi-annually
Minimum initial investment $25,000

Performance

Blackwattle Mid Cap Quality Fund Performance (net of fees) 1

  • Date
  • Entry ($)
  • NAV ($)
  • Exit ($)
  • Unit Price History
  • Daily Unit Price
  • 23/04/2024
  • 1.0981
  • 1.0954
  • 1.0927
  • Click Here

Net Performance as at 31 March 2024

  • 1 Month
  • 3 Months
  • 6 Months
  • 1 Year
  • 3 Years (p.a.)
  • Since Inception (p.a.) 2
  • Fund Return (Net)
  • 4.52%
  • 10.09%
  • 21.82%
  • -
  • -
  • 14.82%
  • Benchmark 3
  • 4.28%
  • 8.31%
  • 15.22%
  • -
  • -
  • 10.11%
  • Active Return
  • 0.24%
  • 1.77%
  • 6.61%
  • -
  • -
  • 4.71%

1 Returns are calculated after fees have been deducted and assume distributions have been reinvested. No allowance is made for tax when calculating these figures. Past performance is not a reliable indicator of future performance. Source: Apex. 2 The inception date for the Fund is 8 Aug 2023. 3 S&P/ASX300 Accumulation Index – S&P/ASX20 Accumulation Index

This information is issued by Blackwattle Investment Partners Pty Limited (ABN 24 663 839 094) (BIP) corporate authorised representative of Blackwattle Licensing Pty Limited (ACN 665 711 839 AFSL 547 617) (corporate authorised representative no. 001304362) the investment manager of the Blackwattle Mid Cap Quality Fund. Equity Trustees Limited (ABN 46 004 031 289, AFSL No. 240975) (EQT) is the responsible entity of the Fund. This document is intended to provide general information only and is subject to change. It does not constitute an offer to subscribe for units in the Fund. The information does not consider the investment objectives, financial situation, or particular needs of any individual. You should seek advice from your licenced financial adviser and read the product disclosure statement (PDS) before making an investment decision. The PDS and target market determination (TMD) for the Fund can be obtained for free by visiting our website www.blackwattlepartners.com. The Fund commenced on 08 August 2023. Returns shown for the Fund have been calculated using exit prices after taking into account fund ongoing fees and assuming reinvestment of distributions. No allowance has been made for taxation. Neither BIP, EQT or their related body corporates guarantee repayment of capital or any particular rate of return. An investment may achieve a lower-than-expected return and investors risk losing some or all of their principal investment. BIP has obtained information from sources it considers to be reliable but does not represent that such information is accurate or complete, or that it should be relied upon. Neither BIP nor EQT make any representations or warranties, express or implied, as to the accuracy or completeness of the information it provides and to the maximum extent permitted by law, neither BIP, EQT nor its directors, employees or agents accept any liability for any loss caused by using this information.