Initial Zenith rating for Barwon Global Listed Private Equity Fund AF
Following the initial review of the Barwon Global Listed Private Equity Fund AF, we’re delighted to announce that Zenith has awarded the Fund a Recommended rating.
Although it has a 13-year track record, the Fund has previously been available solely to institutional investors, so this is its first review by a ‘retail’ research house.
Managed by Sydney-based Barwon Investment Partners, the Fund aims to provide investors with a high performing portfolio of private equity investments in a fee efficient manner, while offering daily liquidity.
Key takeouts from the report
- Zenith believes Barwon’s ability to capture a ‘private market premium’ across a mix of standalone companies and listed funds is a key competitive advantage and is well supported by its detailed fundamental process.
- Zenith has a very positive view of the investment team: Sam Armstrong, Head of Private Equity is considered by Zenith to be a high-quality private equity specialist, and Lead Portfolio Manager Bob Liu is held in high regard, owing to his bottom-up research capabilities. Zenith also believes the broader team has the necessary skills and experience to support the management of the strategy.
- In Zenith’s opinion, Barwon’s ability to identify mispricing opportunities across a heterogeneous universe is a key competitive advantage.
- Zenith believes that the Fund may be used to complement and diversify an Alternatives portfolio, particularly where daily liquidity is prioritised.
Commenting on the Recommended rating, PAN-Tribal CEO Colin Woods said, “We undertook significant due diligence before working with Barwon. The Fund has a 13-year track record and has delivered investors 12.5%* per annum for the past 10 years.”
The Fund is available on a growing number of platforms:
- BT Wrap
- BT Panorama
- Macquarie Wrap
“At a time when alternative asset classes are playing an increasingly important role in diversified portfolios, the Barwon Global Listed Private Equity Fund AF will fill an important gap for Australian investors who are wanting access to Private Equity like returns, but require the optionality of daily liquidity in their portfolios,” commented Sam Armstrong, Barwon’s Head of Private Equity.
* at 31 December 2020, net of fees. Past performance is not an indication of future performance.
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned February 2021) referred to in this document 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/Regulatory Guidelines.