Antipodes Partners has launched a second fund as part of a dedicated push into the UK.
The Australian boutique's Antipodes Global Fund – Long – Ucits fund invests in global equities. It follows an identical investment strategy as the Antipodes Global fund launched in 2017 but will not have the capacity to short.
The fund was launched with $55 million (£38 million) in assets and is the second sub-fund of the Pinnacle Icav, a Dublin-based Ucits umbrella distributed by Pinnacle Investment Management - an Australian multi-boutique platform with over $24 billion in asset across its associated businesses.
The fund will run a high conviction portfolio of between 30-60 stocks, with over 45% of its assets allotted to Asia and a significant underweight to the US.
Antipodes Partners has run a long-only global equity fund for Australian-based investors since the firm’s inception in 2015. It manages $1.1 billion in long-only global equities out of totals asset under managements of around $5.2 billion.
The Australian version of the strategy returned 47.9% since inception in July 2015 to the end of February 2018 compared to benchmark performance of 28.7% for the MSCI AC World Net Index.
‘At the core of our investment philosophy, we seek in our long investments both attractively priced businesses that offer margin of safety, as well as investment resilience characterised by multiple ways of winning,’ said Antipodes Partners founder Jacob Mitchell.
He added: ‘While the investment case will always be predicated on idiosyncratic stock factors such as competitive dynamics, product cycles, management and regulatory outcomes, we seek to amplify the investment case by taking advantage of style biases and macroeconomic risks and opportunities.’