Allard Investment Fund A
ALD1539AU
Allard Investment Fund A ALD1539AU Strategy
BIG PICTURE: Asia focused with high confidence in China and India.
SECTOR: Identify industries with favorable operating environments and attractive long-term growth prospects.
COMPANY: At the heart of what we do is a methodical process of “bottom up” company investing. We look for companies with 1) Defined competitive advantage (scale, brand, quality, cost structure, technology); 2) Sound finances; 3) Strong management; 4) Robust corporate governance.
MEET, GREET, REPEAT: We are on-the-ground, visiting management, operations as well as competitors in the market. We have often met successive management teams.
CONVICTION: Derive a Conviction Ratio by factoring in 1) Management ability; 2) Governance structure; 3) Competitive position; 4) Importance of business to its community; 5) Capital structure; 6) Optionality.
VALUATION: We examine historical performance and apply judgment to a long term DCF and build a valuation range (not a single number).
PORTFOLIO: Position sized by combining discount to valuation and conviction ratio. Exposure limits apply. Typically 25-30 companies from an active universe of 75.
LONG TERM NOT STATIC: Dynamic and regular review. Continuous search for new opportunities.
The investment objective & strategy is a summary of the investment's principal strategy as written in the prospectus. This information is pulled from the most recent product disclosure document.
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Markets
Index | Last price | Change | % Change |
---|---|---|---|
All Ordinaries | 8,826.70 | 48.80 | 0.56% |
CAC 40 | 7,896.36 | 17.90 | 0.23% |
DAX 40 | 24,472.37 | 77.19 | -0.31% |
Dow JONES (US) | 44,569.81 | 111.51 | 0.25% |
FTSE 100 | 8,967.90 | 100.88 | 1.14% |
HKSE | 24,028.37 | 136.05 | 0.57% |
NASDAQ | 20,522.45 | 88.89 | -0.43% |
Nikkei 225 | 39,646.36 | 174.92 | -0.44% |
NZX 50 Index | 12,760.20 | 8.41 | -0.07% |
S&P 500 | 6,258.27 | 4.99 | -0.08% |
S&P/ASX 200 | 8,589.20 | 50.60 | 0.59% |
SSE Composite Index | 3,509.68 | 16.63 | 0.48% |