Warakirri Small Companies Fund

The Warakirri Small Companies Fund ("WSCF") was established in 2003 and is a diversified fund of specialist small capitalisation Australian equities managers.  The small capitalisation area is generally under researched and provides mispricing opportunities that can lead to significant outperformance.

In addition, surveys of the performance of Australian fund managers have shown a higher dispersion of returns of small capitalisation managers compared to the broader market.  Consequently, we believe there is a diversification/selection opportunity in structuring a portfolio of specialist small capitalisation managers.

The WSCF's focus is on maximising after-tax returns for accumulation phase Australian superannuation investors and the fund assumes a tax rate of 15%. Performance is measured against an after-tax benchmark based on the S&P/ASX Small Ordinaries Accumulation Index.

Fund Objective

To outperform an after-tax benchmark based on the S&P/ASX Small Ordinaries Accumulation Index net of fees and tax over time.

Investment approach

• Manage on an after-tax basis to enhance investor returns;

• Combine managers with different strategies blended to mitigate individual manager or style risk;

• On-site manager research - at least two visits per quarter; and

• Quantitative and qualitative assessment.

For further information, a copy of the fund's Information Memorandum or a performance summary, please contact us.