Antipodes Partners, the boutique Australian investment management firm, has launched its second Ucits vehicle investing in global equities.
The Antipodes Global fund-long-Ucits, which was launched with $55m of cornerstone assets, is the second sub-fund of the Pinnacle ICAV, a Dublin-based Ucits umbrella distributed by Pinnacle Investment Management.
The fund follows the same investment strategy, philosophy and process as the Antipodes Global fund-Ucits, which was unveiled in 2017, but without the short equity exposure.
Antipodes Partners manages $1.1bn in long-only global equities. Overall, Antipodes Partners runs more than $5.2bn in global equities.
The Australian-based long-only global equity strategy has returned 47.9% net since inception in July 2015 to the end of February 2018 in US dollar terms, compared to benchmark performance of 28.7% for the MSCI AC World Net Index.
Anitpodes builds high conviction portfolios and focuses on capital preservation, with the aim to deliver consistent alpha at lower levels of risk than the overall market. Its investment process seeks to take advantage of the market’s tendency for irrational extrapolation in the identification of investments offering a high margin of safety.
The Antipodes Global fund-long-Ucits, a high conviction portfolio of around 30-60 major long holdings, offers a highly differentiated portfolio versus the index and peers – with more than 45% of assets allocated to Developed Asia and Developing Asia. The portfolio has a major underweight to the US, the dominant geographic weight in the benchmark.