Investment Objective & Strategy

The Dividend Growth Fund's objective is to generate income and capital growth over a period exceeding five years. The Fund invests predominantly in listed Australasian smaller and medium companies that pay dividends or will produce cash-flow available for future distributions.

We look for companies that exhibit two major characteristics: value and growth. These are companies listed in Australia and New Zealand. We believe that it is better to focus our attention on a handful of carefully selected investments, so we will typically have no more than 35 of our best ideas in the Fund.

The Fund is designed to grow capital by investing in a small number of growth companies where we consider value is greatest and the opportunity of earnings growth is high. We focus on those companies with a sustainable dividend.

We intend to make bi-annual income distributions from Fund declared on or about 30 June and 31 December, or units can be reinvested as requested.

Investment Objective & Strategy

The Emerging Companies Fund's objective is to generate capital growth over a period exceeding five years. The Fund invests predominantly in listed Australasian emerging companies.

The fund invests in very small companies we think have the greatest value and potential for future earnings. These are companies in Australia and New Zealand we believe are undervalued by the market. By emerging companies, we mean companies with a market capitalisation of up to $250 million in local currency relative to the exchange that they are listed on.

The Fund is designed to grow capital by investing in a small number of very small growth companies, where we consider value is greatest and the opportunity for earnings growth is high.