The Maple-Brown Abbott Australian Value Opportunities Fund
- Targets an active share of over 75%, which tends to lower exposure to the top 20 stocks in the S&P/ASX 300 Index
- Features a portfolio constructed with our highest conviction stock ideas managed on a benchmark unaware basis
- Employs our value-based investment philosophy
- Incorporates our views on environmental, social and governance (ESG) factors
- Leverages almost 40 years’ experience of value investing and managing Australian equity portfolios
How does the Fund work with your clients’ portfolios?
For clients who have a heavy allocation to ASX top 20 stocks
The Fund allows investors to gain exposure outside the top 20 stocks in the S&P/ASX 300 Index while investing in our highest conviction opportunities.
To complement and diversify an existing Australian equities portfolio
The Fund may allow your clients to diversify an existing portfolio, particularly where they are looking for active management and the potential to outperform the S&P/ASX 300 Index. The number of holdings in the Fund and their respective weights are very different to the S&P/ASX 300 Index.
As a long-term holding
The Fund is likely to suit your clients who are long-term investors and believe in our value investment philosophy.
How is this fund different?
The Maple-Brown Abbott Australian Value Opportunities Fund (Fund) is a benchmark unaware Australian share portfolio consisting of our highest conviction opportunities (typically 25-40 stocks).
The Fund aims to outperform the S&P/ASX 300 Total Return Index, after fees, over a four-year period by selecting stocks we expect to deliver strong risk-adjusted long term returns from a broad universe of large, mid and small cap Australian companies.
By targeting an active share of more than 75% the Fund tends to limit exposure to ASX top 20 stocks relative to the S&P/ASX 300 Index. As a result, the Fund will typically have a higher exposure to mid-cap stocks relative to the S&P/ASX 300 Index. This can be a valuable source of diversification in client portfolios, particularly where ASX top 20-50 stocks are heavily represented.
Market capitalisation range of equity holdings (%)
Source: Maple-Brown Abbott, as at 31 August 2024.
Our investment approach
Using the Maple-Brown Abbott value-based approach, our Australian equity specialists conduct bottom-up research and in-depth quantitative and qualitative analysis to assess the true value of companies. This includes detailed financial forecasts and an assessment of management quality, industry structure and environmental, social and governance (ESG) factors.
We have developed our own approach to integrating ESG factors into the investment process across all our portfolios in the Australian equities strategy and have been recognised as a leader in this area, maintaining best-in-class assessments from local and global organisations.1 Our approach includes proprietary frameworks and research, company engagement and proxy voting across all securities. We believe this ultimately leads to superior long-term returns for investors.
| Investment Philosophy | |
 | Value managers We believe the price and value of a company are often not the same and change over time. Greed and fear in markets can drive a wedge between these concepts at the stock level. With patience and discipline, we aim to take advantage of this phenomenon and only invest in a stock where we assess the discount to intrinsic value is sufficiently attractive. |
 | Contrarian Often taking a contrarian position, we invest in companies we believe are undervalued and will generate the strongest returns for investors. In regularly considering the unloved or unpopular segments of the market, we look at the narrative attached to these out-of- favour stocks. By researching these companies on a bottom-up basis (in conjunction with what prevailing valuations imply) we determine whether the narrative is correct or an opportunity exists. |
 | Bottom-up stock pickers We base our stock selection on in-depth analysis by our expert team of investment professionals. We use our bottom-up research process to maximise the opportunities to deliver income and long-term capital growth to our investors. |
 | Long-term investors We believe that while over the short term, price and value can diverge by a wide margin, over the long term, they are far more likely to converge. In our experience, we have found what drives this is more likely to be the passing of time as the ‘darling’ stocks fail to live up to expectations, while the ‘value’ parts of the market deliver better results than their share prices implied. |
1 Maple-Brown Abbott became a signatory of the United Nations-supported Principles for Responsible Investment (PRI) in 2008. In our most recent PRI assessment we scored above the global median for each of our assessed modules. Our key asset class of listed equity (direct – active fundamental) was scored at 95 and awarded the highest possible rating of five stars. For full details please refer to our most recent PRI Assessment Report and Transparency Report. We were also identified as a Responsible Investment Leader by the Responsible Investment Association Australasia (RIAA) in their most recent Benchmark Report.
Disclaimer
This information is prepared and issued by Maple-Brown Abbott Ltd ABN 73 001 208 564, AFSL. 237296 (‘MBA’) as the Responsible Entity of the Maple-Brown Abbott Australian Value Opportunities Fund (‘Fund’). This page contains general information only, and does not take into account your investment objectives, financial situation or specific needs. Before making a decision whether to acquire, or to continue to hold an investment in the Fund, investors should obtain independent financial advice and consider the current PDS and Target Market Determination (TMD) or any other relevant disclosure document of those products. For the Fund, the PDS, AIB and TMD are available at maple-brownabbott.com/document-library or by calling 1300 097 995.
Fund ratings
| Current ratings | |
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The Lonsec rating issued 10/2023 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. ©2024 Lonsec. All rights reserved.
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned MPL1039AU June 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.
A team of experienced and dedicated investment professionals
Dougal Maple-Brown
Head of Australian Value Equities
Garth Rossler
Chief Investment Officer
Christopher Hotop
Portfolio Manager, Australian Value Equities
Kateryna Argyrou
Portfolio Manager, Australian Value Equities
Emma Pringle
Head of ESG and Portfolio Manager
Jon Clarke
Portfolio Manager, Australian Value Equities
Raymond Chang
Portfolio Manager, Australian Value Equities
Peter Reeve
Portfolio Manager, Australian Value Equities
Matt Souter
Head of Trading
Contact us
Vijay Srinivasan
Head of Wholesale Distribution
T +61 2 8226 6238
M +61 403 046 832
E vsrinivasan@maple-brownabbott.com
Sophie Metcalfe
Business Development Manager
T +61 2 8226 6220
M +61 477 613 853
E vsrinivasan@maple-brownabbott.com
Nicholas Parrottino
Business Development Associate
T +61 8226 6282
M +61 422 744 002
E nparrottino@maple-brownabbott.com
Simon Beram
Head of Institutional and Research Relationships
T +61 2 8226 6231
M +61 422 744 002
E sberam@maple-brownabbott.com
Alternatively, contact
Fund performance^
as at 31/08/2024
| 1 mth % | 3 mths % | 1 yr % p.a. | 3 yrs % p.a. | Since inception % p.a.* | |
| Fund | 0.5 | 3.0 | 13.7 | 9.6 | 11.1 |
| Benchmark | 0.4 | 5.6 | 14.6 | 6.4 | 9.3 |