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Perpetual Pure Equity Alpha Fund - Class A

Perpetual Pure Equity Alpha Fund - Class A

Absolute return portfolio of the best share opportunities

The Perpetual Pure Equity Alpha Fund is an absolute return portfolio of the best share opportunities we have identified (both long and short), and is managed by one of Australia's most experienced equity teams.

The Fund aims to generate positive returns with minimal volatility over equity market cycles. By combining both long (to hold) and short (to sell) positions the Fund is able to take advantage of rising and falling markets and provide some protection against falling markets.

We employ our tried and proven bottom-up stock selection process for both long and short positions. Through fundamental company research, we aim to identify opportunities to buy quality, undervalued companies. On the short side of the portfolio we opportunistically target stocks that we expect will underperform. We rarely short the index, we short companies.

Features and benefits

Opportunities to manage downside risk

Absolute return focus

Flexibility and conviction

Specialist shorting expertise

Opportunities to manage downside risk

The Fund’s ability to invest in Perpetual’s highest conviction long and short ideas means that portfolio performance can be better cushioned during periods of market weakness.

Absolute return focus

By taking long and short positions, the Fund is better able to generate positive returns in both rising and falling markets.

Flexibility and conviction

Our bottom-up company research generates the insights that drive our high conviction stock selection. The Fund is not limited by index weightings or market capitalisation.

Specialist shorting expertise

Perpetual’s equity team has a highly experienced shorting investment capability. This skill and experience has helped the Fund identify shorting opportunities that have added to returns.

Fund Resources

Fund Profile Product Disclosure Statement New Application (investors) New Application (advisers) Application form Target Market Determination (TMD) Continuous Disclosure Fund Factsheet
October 28, 2024. We refer to the distributions posted on the Distribution History webpage between 14 August 2024 to 19 September 2024. During this period, the Distribution History for this product incorrectly displayed duplicates of the December 2023 distribution record for the 2024 Financial Year, and resulted in an inaccurate subtotal for the 2024 Financial Year. This has been rectified and the correct distribution history has been displayed on our website from 19 September 2024. The Distribution data summary included in this product page was not impacted.
We sincerely apologise for any inconvenience caused. If you have any questions, please email us at investments@perpetual.com.au or phone us on 1800 022 033 during business hours (Sydney time).

Pricing & Performance

Fund Commencement: March 2012

Unit Pricing

As at
Entry 1.234
Exit 1.230
View Price History

Distributions

Frequency
Half Yearly
Cents per Unit
1.694
Reinvestment Price
1.231
View Distribution History

Performance

As at

Returns

As at
Growth (%) Distribution (%) Total (%)
1 month 1.29% -- 1.29%
3 month -0.34% -- -0.34%
6 month -0.55% 1.37% 0.82%
1 year 5.08% 2.74% 7.82%
3 year -0.66% 5.66% 5.00%
5 year 2.90% 4.59% 7.49%
10 year 1.30% 4.60% 5.89%

Documents & Resources

Fund Profile Target Market Determination (TMD) Perpetual Investment Funds PDS.pdf

Investment Approach

Utilising Perpetual's proven investment process, the Fund will adopt the same disciplined investment approach as is used across Perpetual's equity funds. Our conservative bottom-up approach to stock picking is core to the investment approach for this Fund, allowing the portfolio manager to identify and select stocks for both the long and short positions of the Fund. The investment process is based on comprehensive internal company research using four filters: - sound management - conservative debt levels - quality of business - recurring earnings The Fund's portfolio is then created within specific investment guidelines and a risk-controlled framework. The Fund will predominantly invest in Australian shares (both long and short), cash may be used defensively to preserve capital and it can invest opportunistically (both long and short) in global shares. Derivatives may be used in managing the Fund.

Details & Fees

Investment Objective Aims to generate positive returns over a market cycle irrespective of market conditions by investing in both long and short positions of predominantly Australian shares.
Minimum Suggested Timeframe 5 years or longer
Fund Manager Perpetual Investment Management Limited
Asset Class Australian Shares
Minimum Initial Investment $25,000
Minimum Initial Investment (with saving plan) $25,000 Monthly Minimum Nil
Minimum Additional Investment $2,000
Cash 0 - 120%
Gross Share Exposure 0 - 220%
Net Global Share Exposure -10 - 20%
Net Share Exposure -20 - 100%
Half Yearly June 30, December 31
Entry 0
Exit 0
Management Fee (p.a.) 1.28%. Refer to PDS for Management Costs. *
Performance Cost (p.a.) 20.50% of outperformance.*
Buy / Sell Spread 0.18% / 0.18%

"The Fund is able to take advantage of rising and falling markets, and provides useful protection for investors against falling markets."

Anthony Aboud, Portfolio Manager

Boral Case Study: Building A Position In Cyclical Companies

Shares in manufacturing and building supplies company Boral recently hit an all-time high. Head of Equities, Paul Skamvougeras, explains how he assesses investment opportunities.

 

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Keeping An Open Mind On Market Themes

While it's hard to completely divorce your macro view from bottom-up stock picking, FY21 proved that it is a skill worth having. Portfolio Manager Anthony Aboud on the importance of keeping an open mind on market themes.

 

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What Are The Risks?

All investments carry risk. While it is not possible to identify every risk relevant to your investment, we have provided details of the risks that may affect your investment in the relevant product disclosure statement (PDS) or offer document.

You can find PDSs and other documents in our resources section. The relevant PDS, offer documents and forms can also be found in the sections below:

Investment Superannuation Retirement

Meet the team

Anthony-Aboud.jpg
Anthony Aboud
Deputy Head of Equities, Portfolio Manager - Industrial Shares, SHARE-PLUS Long-Short, Pure Equity Alpha
Analyst, BEc, CFA
STAFF Sean Roger.jpg
Sean Roger
Deputy Portfolio Manager - Pure Equity Alpha, SHARE-PLUS Long-Short
BAcc
Anthony Aboud
Anthony-Aboud.jpg

Anthony Aboud

Deputy Head of Equities, Portfolio Manager - Industrial Shares, SHARE-PLUS Long-Short, Pure Equity Alpha Analyst, BEc, CFA
Bio

Years of experience: 25

Years at Perpetual: 12

Anthony is the Deputy Head of Equities and Portfolio Manager – Perpetual Industrial Share Fund, Perpetual SHARE-PLUS Long-Short Fund and Perpetual Pure Equity Alpha Fund.

Anthony has been with Perpetual for 12 years. Prior to joining Perpetual, he worked at Ellerston Capital for six years, where he was the Portfolio Manager for the Ellerston Capital Global Equity Management Fund for two years. Before that, he spent 4 years as an analyst working on a long/short strategy. Prior to joining Ellerston Capital, Anthony worked as an Analyst at UBS Investment Bank for 8 years.

Anthony has a Bachelor of Economics from the University of Sydney and has earned the right to use the Chartered Financial Analyst designation.

Sean Roger
STAFF Sean Roger.jpg

Sean Roger

Deputy Portfolio Manager - Pure Equity Alpha, SHARE-PLUS Long-Short BAcc
Bio

Years of experience: 12

Years at Perpetual: 11

Sean is the Deputy Portfolio Manager for the Perpetual SHARE-PLUS Long-Short Fund and the Perpetual Pure Equity Alpha Fund.

Sean joined Perpetual in February 2013 as a Graduate Accountant. He joined the Investments team in August 2014 as an Equities Dealer and was appointed an Equities Analyst in January 2016 where he was responsible for covering a number of stocks in the gaming and agricultural sectors. He was appointed Deputy Portfolio Manager for the Perpetual SHARE-PLUS Long-Short Fund and the Perpetual Pure Equity Alpha Fund in 2021.

Sean has a Bachelor of Accounting from the University of Technology, Sydney and has completed the Chartered Accountants program.

Have Any Questions?

Call your Perpetual Business Development Manager on 1800 062 728.

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Perpetual Investment Management Limited ABN 18 000 866 535 AFSL 234426 and/or Perpetual Superannuation Limited ABN 84 008 416 831 AFSL 225246 are the issuers of the Funds. you should consider the relevant Fund product disclosure statement or other offer document before deciding whether to invest. The product disclosure statements and target market determinations for the Funds are available on this website.

Returns have been calculated using exit prices after taking into account all ongoing fees, and assuming reinvestment of distributions. No allowance has been made for entry fees, exit fees or where applicable taxation. Future returns may bear no relationship to the historical information displayed. The returns shown represent past returns only and are not indicative of future returns of a Fund. Returns on a Fund can be particularly volatile in the short term and in some periods may be negative.

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