14 July 2014
Research house Zenith Investment Partners (Zenith) has again awarded a ‘Highly recommended’ rating to the Bennelong Kardinia Absolute Return Fund (the Fund) as a part of its 2014 Australian Shares Long Short Sector Review. In its recent report, Zenith said it was confident in Kardinia's portfolio construction approach and believes the portfolio managers are well experienced to utilise the full range of the Fund's flexible investment mandate to add value to investors.
The Fund is managed by Kardinia Capital, founded by Mark Burgess and Kristiaan Rehder in partnership with Bennelong Funds Management in 2011. Zenith considers Kardinia’s investment team to be of a high calibre.
Zenith states in the report: “We hold a positive view on the collegiate and tight knit nature of the team and believe it provides a conducive working environment”.
Overall, Zenith believes Kardinia's stock selection process is intuitively appealing, drawing on the strength of the investment team's experience in bottom-up stock selection, as well as the macro and thematic inputs of the portfolio managers.
Zenith’s report also highlights the Fund is among the more dynamic variable beta strategies available to investors, able to preserve capital in falling markets by materially lowering its net equity exposure.
Disclaimer: The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned July 2014) referred to in this document is limited to “General Advice” (as defined by the 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. 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. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners. com.au/RegulatoryGuidelines