Many milestones
It’s almost 10 years to the day since I launched the first Growth Fund and next month we are going to celebrate the history of Pie in the December newsletter. That first fund launched with just $3 million and has returned 348% as at 31 October. So that brings me to today, and here we are raising $100 million for my new strategy. Pie has certainly come a long way!
My new fund
The Multi-Strategy Fund is going to be an exciting product to manage. It has the flexibility to invest in our best investment ideas, regardless of asset class or region. However, don’t expect this fund to be fully invested at all times. Some years, I may only come across a handful of really compelling ideas. The objective is to have a very high threshold for investment and if that hurdle cannot be met, then despite the temptation to “do something”, the best thing is to do nothing. I only want to put your money to work when I believe the odds of making money are stacked in our favour.
I only want to put your money to work when I believe the odds are stacked in our favour.
Over the past six months, as you would expect, I have been running a test portfolio, which you will be pleased to know performed well. But the real proof is in the pudding and there is a high hurdle to meet, if we are to match the standards set by previous launches of Pie products!
I would also like to note, the Multi-Strategy Fund is designed to complement an existing investment portfolio (not replace it).
Leadership strategy: New faces to the Board
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NOAH HICKEY
Director
Noah has extensive experience in the managed funds sector. He spent over four years on the executive team at Fisher Funds and being a leader in the industry for over seven years. Noah has a passion for technology and recently spent three years at Pushpay as the General Manager of Enterprise in New Zealand and Australia. This has seen Noah continue that passion in his role as an Executive Director of New Zealand startup Whip Around. He is also a member of the Wellington Phoenix Football Club Board and you may recognise him from his ten years representing New Zealand in the All Whites.
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JACQUELINE TAYLOR
Advisor to the Board (JUNO)
Jacqueline has been involved with Pie Funds in various different roles since inception in 2007. Currently she is the Co-founder, Editor-in-Chief and Publisher of JUNO magazine. She holds a Bachelor of Science, Graduate Diploma in Teaching and a Diploma in Freelance Journalism, and has worked as a teacher, journalist, writer and TV Presenter over her career. Jacqueline holds shares in Pie.
As always, thank you for your support. If you have any questions please don’t hesitate to call me on (09) 486 1701, or email me, mike@piefunds.co.nz.
Issued by Pie Funds Management Limited. To download our Product Disclosure Statements and Statement of Investment Policy and Objectives visit www.piefunds.co.nz or www.companiesoffice.govt.nz/disclose. Past performance is not a guarantee of future returns.