Sydney, 18 October 2016: Antipodes Global Investment Company Limited (ASX: APL) – the first listed investment company (LIC) managed by Antipodes Partners Limited (Antipodes Partners) – began trading on the Australian Securities Exchange (ASX) today.
The ASX debut follows on from APL’s heavily oversubscribed initial public offering (IPO), which raised over $300 million and represents the third largest LIC IPO raising in Australia^.
APL offers investors access to a long-short global securities investment portfolio with a currency overlay, based on the Antipodes Global Fund strategy.
The LIC seeks to address the shortage of global equity funds that invest in a high conviction manner with a focus on capital preservation.
Antipodes Partners Chief Investment Officer and Lead Portfolio Manager Jacob Mitchell said: “APL represents a global equity portfolio managed by an experienced team dedicated to finding resilient, undervalued opportunities both long and short. With valuations distorted by record low interest rates, a focus on risk is more critical than usual.”
APL Chairman Jonathan Trollip added: “The IPO has been extremely well received by investors: APL provides retail investors access to one of Australia’s top global equities strategies”.
Since inception#, the Fund has delivered 13.6% net return, outperforming the MSCI All Country World Net Index by 11.7%*.
Antipodes Partners’ Corporate Adviser to the issue was Seed Partnerships.
The issue was arranged through National Australia Bank (NAB). They were also one of the joint Lead Managers alongside Morgans, Morgan Stanley, Ord Minnett and Taylor Collison. Co-Managers included Bell Potter, JBWere and Wilsons.
Earlier this month, Antipodes Partners was awarded “International Equities – alternative strategies” at the 2016 Professional Planner|Zenith Fund Awards.
^Source: Seed Partnerships
#Inception date is 1 July 2015, when current investment strategy was adopted
*Source: Antipodes Global Fund update as at 30 September 2016
About Antipodes Partners:
Antipodes Partners is a pragmatic value manager of global and Asian equities founded in 2015 by Jacob Mitchell, former Deputy Chief Investment Officer of Platinum Asset Management, together with a number of ex-colleagues and like-minded value investors.
Antipodes Partners aspires to grow client wealth over the long-term by generating absolute returns in excess of the benchmark at below market levels of risk. We seek to take advantage of the market’s tendency for irrational extrapolation in response to changes in the operating environment, identify great businesses that are not valued as such and build high conviction portfolios with a capital preservation focus.
Antipodes Partners is supported by leading multi-affiliate investment management firm, Pinnacle Investment Management Limited (Pinnacle) which owns a minority stake in the business Pinnacle is affiliated with seven specialist investment managers that collectively manage over $21 billion.
Antipodes Partners Limited ABN 29 602 042 035 AFSL 481580
The Professional Planner | Zenith Fund Awards are determined using proprietary methodologies. Fund Awards were issued October 7, 2016 and are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.