Bennelong Kardinia Absolute Return Fund

The Bennelong Kardinia Absolute Return Fund is a long/short Australian equity fund, with the long-term objective of achieving consistent positive returns through an investment cycle, with an overarching philosophy of capital protection.

Core to the strategy is fundamental stock selection to create a high conviction portfolio of between 20-50 stocks.

APIR code


Portfolio managers

Kristiaan Rehder & Stuart Larke

Stock range


Active stock limit


Client risk profile


Investment team

Kardinia Capital

Responsible Entity

Bennelong Funds Management Ltd
AFSL 296806
Level 1, 9 Queen St, Melbourne

Recommended investment period

Long term (minimum five years)

Inception date

1 May 2006*

*The Bennelong Kardinia Absolute Return Fund was launched on 1 May 2006 by another trustee, and performance data relates to this strategy. Bennelong Funds Management Ltd assumed responsibility as replacement trustee on 16 August 2011. 

Fees and charges

Management fee: 1.2875% p.a. (including GST net of reduced input tax credits) of Net Asset Value calculated daily and paid monthly

Performance fee: 20.5% (including GST net of reduced input tax credits) of the investment returns made in excess of the daily official RBA Cash Rate plus 2%, calculated daily and paid semi-annually.

Other expenses and indirect costs may also apply. Please refer to the PDS for more information.

Investment amount

Initial investment minimum: $20,000

Withdrawal minimum: $10,000

Minimum additional investment: $10,000

Subject to the Responsible Entity's absolute discretion



Performance summary

As at 31 May 2020

RBA Cash Rate + 2% (Performance Fee Hurdle)*

1 mnth

3 mnths

1 yr

3 yrs (pa)

5 yrs (pa)

10 yrs (pa)

Since inception**















Performance figures are net of fees and expenses.
*The Performance Fee Hurdle is the RBA cash rate plus 2%. Prior to 2 December 2019 it was the RBA cash rate.
**The Bennelong Kardinia Absolute Return Fund was launched on 1 May 2006 by another trustee, and the above performance data relates to this strategy. Bennelong assumed responsibility as replacement trustee on 16 August 2011 – for performance history relating to this date, please contact Client Services on 1800 895 388 (AU) or 0800 442 304 (NZ) or Since inception figures are calculated on a p.a. basis.

 Past fund performance is not indicative of future performance.

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31 May 2020

30 April 2020

31 March 2020

Performance history



Application 1.0819
Redemption 1.0776
Effective date 30 June 2020

Unit price history



How to invest

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Direct investment

Investments can be made directly to Bennelong via a Product Disclosure Statement (PDS) application form.

Minimum investment amount: $20,000

Recommended investment period: 5 years plus

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Distribution information

Distribution timetable

CUM prices available

1 July 2020

CPU distribution rate available

6 July 2020

Ex prices available

7 July 2020

Payment of cash distribution

8 July 2020

Transaction statements sent to unitholders

8 July 2020

Tax statements sent to unitholders

15 July 2020

Distribution analysis

30 June 2017

30 June 2016

30 June 2015

30 June 2014

30 June 2013

30 June 2012


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