CFS FC Inv-Longwave Aus Small Companies

The manager’s growth approach is based on the belief that, over the medium-to-long term, share prices are driven by growth in a company’s earnings, despite the existence of sentiment that can lead to short-term price volatility. The strategy is to invest in Australian companies with a market capitalisation or free float of generally less than $500 million at the time of initial investment, with strong balance sheets, whose earnings are expected to grow at a greater rate than the Australian economy.