The Peregrine Fund (Fund) is an Australian wholesale unit trust that aims to provide investors with exposure to a wide range of liquid listed securities that exhibit characteristics that can often lead to significant outperformance, but within a rules-based framework designed to reduce the impact of subjective decision-making on long-term performance. NAOS Asset Management Limited is the trustee and investment manager of the Fund (Manager).
Importantly, the Fund does not charge any management fees or buy/sell fees. A performance fee applies when the absolute hurdle of 6% p.a. is exceeded. If the Fund doesn’t generate absolute returns for its investors, the Manager doesn't get paid, which we view as a very strong form of alignment.
The Fund is unconstrained by any specific sector or industry exposures. Furthermore, the Fund can invest in exchange-traded funds (ETFs) and listed debt securities, and hold elevated cash weightings if the investment landscape makes it difficult to source quality ideas. The Fund will typically hold 20-40 listed securities across Australia, New Zealand and developed markets globally.
The investment objective of the Fund is to invest in select listed securities when they exhibit the characteristics that will lead to medium-term outperformance. The Fund's flexible investment mandate facilitates this investment objective.
The Manager, its principals, and employees are all significant investors in the Fund, further aligning the Fund's investment objective with that of its investors.
We respect price trends and behavioural dynamics. Positive momentum often signals improving fundamentals and a potential change in investor psychology. We position the Fund to benefit from momentum rather than fight against it.
Investment flexibility is not sacrificed for the illusion of safety. Every position is sized and selected with the awareness of how easily we can enter or exit, especially in volatile or stressed markets.
No benchmarks only an absolute return hurdle of 6%p.a. The flexible mandate of the Fund will allow it to invest where we believe the best risk adjusted returns can be sourced. We go anywhere, unconstrained across market cap, sectors, developed markets, ETFs, listed equities or listed debt.as long as the security is listed & what we deem to be liquid.
We know that not every investment will be the right one at the right time. Therefore, we implement a strict stop loss process to limit our losses and protect our capital base to redeploy into future investments.
For the Manager to generate a financial return, investors in the Fund must make money first. The Fund does not charge recurring management fees nor does it charge a fee for investors to enter or exit the Fund. The only fee that is charged is a Performance Fee when the Fund achieves positive performance over an absolute benchmark of 6%p.a.
Principals and executives from the Manager are significant investors in the Fund. By investing our capital alongside you, this further aids in aligning interests across the Manager and the investors in the Fund.
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Units in the Peregrine Fund (‘Fund’) are issued by NAOS Asset Management Limited (ABN 23 107 624 126, AFSL 273529) (‘NAOS’). The Fund is a wholesale unit trust open to eligible wholesale and sophisticated investors only. This material is provided for general information purposes only and must not be construed as investment advice. It does not take into account the investment objectives, financial situation or needs of any particular investor. Before making an investment decision, you should determine whether you are an eligible wholesale or sophisticated investor. You should also read the Information Memorandum for the Fund, and investors should consider obtaining professional investment advice that is tailored to their specific circumstances. Past performance is not necessarily indicative of future results and no person guarantees the future performance of the Fund, the amount or timing of any return from the Fund, or that the investment objectives of the Fund will be achieved. Nothing contained herein constitutes a solicitation, recommendation, endorsement or offer to buy or sell any units in the Fund or any other financial instruments in any place in which, or to any person to whom, it would not be lawful to make such an offer.
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