PAN-Tribal Global Equity Fund maintains highest rating

PAN-Tribal Global Equity Fund maintains highest rating

No sooner had we celebrated the PAN-Tribal Global Equity Fund’s fifth birthday, research house Zenith Investment Partners released its 2019 research report and rating. We’re very pleased to advise that the Fund maintained the Highly Recommended rating first issued one year ago.

Commenting on the rating, PAN-Tribal CEO Colin Woods said, “We’re delighted the Fund has maintained its Highly Recommended rating. Despite a challenging December quarter in 2018, the PAN-Tribal Global Equity Fund has returned 24.5* percent so far in 2019.”

“This highlights the strength of both the process and the investment team.”

“The ratification of the Fund’s Highly Recommended rating coincides with its fifth birthday; it’s a great result for the advisers and investors who have supported the PAN-Tribal Global Equity Fund over the past five years.”

Some key highlights from the report include:

On the Fund overall

“Zenith holds a positive view on Davis Advisors’ overall investment process which has been successfully implemented since 1969. Our conviction in the Fund is underpinned by the high regard we hold for the depth and quality of the investment team.”

Due to its low turnover, “the Fund may be more appealing to investors who are high marginal tax-rate payers as it will result in superior after-tax return outcomes.”

On the investment process

“Zenith believes Davis Advisors’ style neutral investment process results in the Fund being well suited to delivering outperformance throughout the market cycle (i.e. in both rising and falling market environments).”

“Davis Advisors expects that the majority of the Fund’s performance will be driven by the investment team’s stock selection skills. Zenith believes the security selection process adopted by Davis Advisors is robust and detailed.”

“Zenith is comfortable with Davis Advisors’ portfolio construction approach, which ensures a strong connection between the output of their security selection process and the resultant weight of the stock in the portfolio.”

On the investment team

Zenith made particular mention of portfolio manager Danton Goei, who has been involved with the Fund since its inception. The report stated, “Zenith rates Goei as a strong investor, highlighted by his impressive long-term track record.”

“Overall, Zenith believes the investment team are of a high calibre, providing a key competitive advantage for the Fund.”

*at 31 October 2019, net of fees. Past performance is not an indication of future performance.

 

Important information
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned November 2019) referred to in this piece is limited to “General Advice” (s766B 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 and is subject to change at any time without prior notice. 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. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines