PM Capital Global Companies (PMC0100AU) Report & Performance

What is the PM Capital Global Companies fund?

PM Capital Global Companies aims to provide long-term capital growth and outperform the greater of the MSCI World Net Total Return Index (AUD) or RBA cash rate over rolling seven year periods. The Fund is not intended to replicate the index. The Fund is a concentrated portfolio, with its listed equity component typically holding 25 to 45 securities, when fully invested, diversified across global equity markets. Old fashioned stock pickers – fundamental, bottom-up research intensive approach. The investment process is built around the simple principle that the best way to preserve and enhance your wealth over the longer term is to “buy a good business at a good price”.

Growth of $1000 Investment Over Time

Performance Report

Peer Comparison Report

Peer Comparison Report

Latest News & Updates For PM Capital Global Companies

PM Capital Global Companies Fund Commentary September 30, 2023

• Positive contributors to performance for the month of September included our commodity holdings CNOOC, Arch Resources, Stanmore Resources, and Teck Resources.

• Detractors to monthly performance included Wynn Resorts, ING Groep, and Star Entertainment.

• No new positions were initiated during August, however additional purchases were made in Grupo Mexico and Charles Schwab Corp. We also took up our allocation in Star Entertainment’s rights issue, increasing the position size.

• No positions were exited during the period, however we trimmed our position in JP Morgan.

• The gross invested position at month’s end closed at 102%, with a net equity position of 88%

READ HISTORICAL PERFORMANCE COMMENTARIES

Product Snapshot

  • Performance Review
  • Product Overview
  • Peer Comparison
  • Product Details

Performance Review

Fund Name Last Month
? Returns after fees in the most recent (last) month).
3 Months Return
? Returns after fees in the most recent 3 months.
1 Year Return
? Trailing 12 month returns.
3 Years Average Return
? Average Annual returns from the last 3 years.
Since Inc. Average Return
? Average (annualised) returns since inception
1 Year Std. Dev. (Annual)
? The standard deviation (or annual volatility) of the last 12 months.
3 Years Std. Dev. (Annual)
? The average standard deviation (or annual volatility) from the last 3 years.
Since Inc. Std. Dev. (Annual)
? The average standard deviation (or annual volatility) since the fund inception.
1 Year Max Drawdown
? The maximum drawdown in the last 12 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
3 Year Max Drawdown
? The maximum drawdown in the last 36 months - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
Since Inc. Max Drawdown
? The maximum drawdown since inception - a drawdown is a peak-to-trough decline during a specific period for an investment, trading account, or fund.
PM Capital Global Companies2.3%3.96%26.16%18.18%8.74%13.46%16.33%18.75%-6.06%-12.68%-62.28%

Product Overview

Peer Comparison

Product Details

Product Due Diligence

What is PM Capital Global Companies

PM Capital Global Companies is an Managed Funds investment product that is benchmarked against Developed -World Index and sits inside the Foreign Equity - Long Short Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The PM Capital Global Companies has Assets Under Management of 398.77 M with a management fee of 1.09%, a performance fee of 0 and a buy/sell spread fee of 0.5%.

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Historical Performance Commentary

Performance Commentary - August 31, 2023

• Positive contributors to performance for the month of August included Apollo Global Management, CNOOC, Shell plc, ING Group and Arch Resources.

• Detractors to monthly performance included Bank of America, Siemens AG, Wells Fargo, Freeport McMoRan and Sands China.

• Currency positioning also had a negative impact on performance relative to the MSCI Global (AUD). The Fund’s currency positioning is actively managed and at the end of August the three largest currency exposures were Australian Dollar (83%), British Pound (8%) and Hong Kong Dollar (6%). In August the Australian Dollar declined ~4% against the US Dollar which accounts for almost 70% of the MSCI World Index.

• No new positions were initiated during August, however additional purchases were made in Heineken Holdings as well as recently initiated Grupo Mexico.

• No positions were exited during the period however out of the money call options were sold on Apollo Asset Management reducing our effective position and providing an exit point in the event of a further increase in the share price.

• The gross invested position at month’s end closed at 106%, with a net equity position of 94%.

Performance Commentary - July 31, 2023

Performance Commentary - June 30, 2023

Performance Commentary - May 31, 2023

Performance Commentary - April 30, 2023

Performance Commentary - March 31, 2023

Performance Commentary - February 28, 2023

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