24 November 2011
The Bennelong Australian Equities Fund (the Fund), managed by Bennelong Australian Equity Partners (BAEP), has been awarded a ‘Recommended' rating by ratings house Lonsec.
Over the two-year period ending September 2011, the Fund outperformed the S&P/ASX 300 Accumulation Index by 2.6% per annum (after fees), "clearly outperforming the Lonsec peer group average (Excess Return -0.2% pa). More recent performance has likewise been solid, with an Excess Return of 1.9% (versus a peer average of 0.3%)," stated the Lonsec report.
BAEP is headed up by Paul Cuddy and Mark East. According to Lonsec's report, the team of six has above average depth and breadth of experience. Both Paul and Mark have over 20 years of investment experience, and each team member averages around 16 years.
BAEP was established by Paul Cuddy and Mark East in 2008, in partnership with Bennelong Funds Management, who provides the team with back office infrastructure such as compliance, finance, marketing and sales support. Lonsec views this arrangement favourably as it enables Paul and Mark to focus on investment management rather than business management.
The Lonsec report noted that "the rating of the Fund is underpinned by the quality and experience of the manager's key principals".