Where Discipline Meets Opportunity
Fly far and wide. Strike with precision.
The Peregrine Falcon is the fastest animal on earth, known for its ability to range broadly before executing with speed and accuracy.
The Peregrine Fund (Fund) reflects this philosophy - broad in its search for opportunities yet disciplined in execution. We focus on high-conviction investments (excluding ASX-100 constituents), deploying capital selectively with a clear emphasis on risk management, position sizing and liquidity.
The Fund aims to invest in listed businesses through a rules-based process designed to capture medium-term outperformance and reduce reliance on purely subjective analysis. The Fund does not charge any management fees, instead applying a performance fee aligned to an absolute benchmark hurdle.
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 far and wide, unconstrained, across market cap, sectors, developed markets and ETFs,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 disciplined sell framework, including a stop-loss guide and momentum analysis 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 Manager is entitled to a Performance Fee of 25% when the Fund achieves positive performance over an absolute benchmark of 6%p.a. The Fund will also incur costs and expenses associated with the establishment and ongoing operation of the Fund; however, this will be capped at 0.30% per annum of the Net Asset Value of the Fund.
Principals and executives of 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.
The 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 will invest primarily in liquid, exchange-traded securities (excluding ASX-100 constituents), including Australian and New Zealand listed equities and listed ETFs and may hold cash where appropriate. The Fund will typically hold 0-40 listed securities across Australia, New Zealand and developed markets globally.
The Manager, its principals, and employees are significant investors in the Fund, further aligning the Fund's investment objective with that of its investors.
Interested in investing or want to learn more? Please contact us:
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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