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Perpetual SHARE-PLUS Long-Short Fund

Perpetual SHARE-PLUS Long-Short Fund

Offering investors a broader set of investment opportunities.

The Perpetual SHARE-PLUS Long-Short Fund invests in companies we believe will rise in value and takes short positions in companies we believe will fall in value.

The Fund offers investors a broader set of investment opportunities: it can take long (to hold) and short (to sell) positions in companies and may hold up to 35% of the portfolio in cash.

We employ our tried and proven bottom-up stock selection process for both long and short positions. Through fundamental company research, we aim to identify opportunities to buy quality, undervalued companies. On the short side of the portfolio we opportunistically target stocks that we expect will underperform. We rarely short the index, we short companies.

Outstanding track record

The Fund has historically outperformed its benchmark, the S&P/ASX 300 Accumulation Index, over the long term.

More flexibility in implementing ideas

By taking long and short positions the Fund has the flexibility to generate returns from rising and falling share prices.

Rigorous research for stock selection

Perpetual’s bottom-up company research generates the insights that drive our stock selection for both long and short positions. We focus on quality and value to identify companies with the greatest return potential.

Specialist shorting expertise

Perpetual’s equity team has a highly experienced shorting investment capability. This skill and experience has helped the Fund identify shorting opportunities that have added to returns.

October 28, 2024. We refer to the distributions posted on the Distribution History webpage between 14 August 2024 to 19 September 2024. During this period, the Distribution History for this product incorrectly displayed duplicates of the December 2023 distribution record for the 2024 Financial Year, and resulted in an inaccurate subtotal for the 2024 Financial Year. This has been rectified and the correct distribution history has been displayed on our website from 19 September 2024. The Distribution data summary included in this product page was not impacted.
We sincerely apologise for any inconvenience caused. If you have any questions, please email us at investments@perpetual.com.au or phone us on 1800 022 033 during business hours (Sydney time).

Pricing & Performance

Fund Commencement: June 2009

Unit Pricing

As at
Entry 3.060
Exit 3.049
View Price History

Distributions

Frequency
Half Yearly
Cents per Unit
7.152
Reinvestment Price
2.885
View Distribution History

Performance

As at

Returns

As at
Growth (%) Distribution (%) Total (%)
1 month 0.28% -- 0.28%
3 month 0.59% -- 0.59%
6 month 1.40% 2.52% 3.92%
1 year 16.09% 4.49% 20.59%
3 year -1.92% 11.57% 9.65%
5 year 1.98% 8.00% 9.99%
10 year 0.69% 7.60% 8.30%

Documents & Resources

Fund Profile Target Market Determination (TMD) Perpetual Investment Funds PDS.pdf

Investment Approach

Perpetual research companies of all sizes using consistent share selection criteria. Perpetual's priority is to select those companies that represent the best investment quality and are appropriately priced. In determining investment quality, investments are carefully selected on the basis of four key investment criteria: - conservative debt levels - sound management - quality business - recurring earnings In addition, Perpetual aims to take short positions predominantly in Australian shares that it believes will fall in value. The short positions are determined based on each stock's expected returns and the investment constraints (designed to reduce the risks associated with taking short positions). The Fund may have up to 20% exposure to investments in international shares. The Fund may have up to 10% exposure to short positions in international shares. Derivatives may be used in managing the Fund.

Details & Fees

Investment Objective Aims to provide long-term capital growth and income through investment in quality shares and taking short positions predominantly in selected Australian shares.
Minimum Suggested Timeframe 5 years or longer
Fund Manager Perpetual Investment Management Limited
Asset Class Australian Shares
Minimum Initial Investment $25,000
Minimum Initial Investment (with saving plan) $25,000 Monthly Minimum Nil
Minimum Additional Investment $2,000
Australian shares 90 - 125%
Australian shares (net) 65 - 100%
Cash 0 - 35%
Short Positions 0 - 25%
Half Yearly June 30, December 31
Entry 0
Exit 0
Management Fee (p.a.) 0.99%. Refer to PDS for Management Costs.
Performance Cost (p.a.) 13.98% of outperformance*
Buy / Sell Spread 0.18% / 0.18%
Management Notes The Funds management fee of 0.99% pa is charged on the sum of its long & short positions (GAV), which equates to a management fee of 1.39% pa of the Funds net asset value (NAV) for the Financial Year 2022. The performance fee is equal to 13.98% of the difference between the Funds daily return & its performance hurdle. The performance hurdle is, S&P/ASX 300 Accumulation Index plus 2% per annum.

Anthony Aboud on his Long-Short strategy

 

 

Anthony Aboud, Perpetual’s Deputy Head of Equities and Portfolio Manager for the SHARE-PLUS Long-Short Fund, explains shorting and the key features of his long-short strategy.

Video-anthony-aboud-long-short-jul23.PNG

Meet the team

Anthony-Aboud.jpg
Anthony Aboud
Deputy Head of Equities, Portfolio Manager - Industrial Shares, SHARE-PLUS Long-Short, Pure Equity Alpha
Analyst, BEc, CFA
STAFF Sean Roger.jpg
Sean Roger
Deputy Portfolio Manager - Pure Equity Alpha, SHARE-PLUS Long-Short
BAcc
Anthony Aboud
Anthony-Aboud.jpg

Anthony Aboud

Deputy Head of Equities, Portfolio Manager - Industrial Shares, SHARE-PLUS Long-Short, Pure Equity Alpha Analyst, BEc, CFA
Bio

Years of experience: 25

Years at Perpetual: 12

Anthony is the Deputy Head of Equities and Portfolio Manager – Perpetual Industrial Share Fund, Perpetual SHARE-PLUS Long-Short Fund and Perpetual Pure Equity Alpha Fund.

Anthony has been with Perpetual for 12 years. Prior to joining Perpetual, he worked at Ellerston Capital for six years, where he was the Portfolio Manager for the Ellerston Capital Global Equity Management Fund for two years. Before that, he spent 4 years as an analyst working on a long/short strategy. Prior to joining Ellerston Capital, Anthony worked as an Analyst at UBS Investment Bank for 8 years.

Anthony has a Bachelor of Economics from the University of Sydney and has earned the right to use the Chartered Financial Analyst designation.

Sean Roger
STAFF Sean Roger.jpg

Sean Roger

Deputy Portfolio Manager - Pure Equity Alpha, SHARE-PLUS Long-Short BAcc
Bio

Years of experience: 12

Years at Perpetual: 11

Sean is the Deputy Portfolio Manager for the Perpetual SHARE-PLUS Long-Short Fund and the Perpetual Pure Equity Alpha Fund.

Sean joined Perpetual in February 2013 as a Graduate Accountant. He joined the Investments team in August 2014 as an Equities Dealer and was appointed an Equities Analyst in January 2016 where he was responsible for covering a number of stocks in the gaming and agricultural sectors. He was appointed Deputy Portfolio Manager for the Perpetual SHARE-PLUS Long-Short Fund and the Perpetual Pure Equity Alpha Fund in 2021.

Sean has a Bachelor of Accounting from the University of Technology, Sydney and has completed the Chartered Accountants program.

How to Invest

Apply online for a new Perpetual Investment Fund Invest now

Perpetual Investment Funds feature Perpetual’s leading investment management capabilities. They are designed for individual and wholesale investors, and super fund trustees, with $25,000 or more to invest.You can also invest through investor directed portfolio services. Applications to invest in Perpetual Investment Funds can be made through the myPerpetual application portal online.

 

Before applying for a Perpetual Investment it's important to review the Product Disclosure Statement (PDS), and related documents to ensure you understand how the fund works and the risks involved.

 

Information on Customer Identification Requirements

Investment Forms, PDS's and Offer Documents

Find out more about Perpetual Investment Funds

Continuous disclosure and updates for Perpetual Investment Funds

Update or apply for additional investment in my Perpetual fund Access the myPerpetual Portal

Applications for additional investment to your Perpetual Fund can be done by accessing the online account portal myPerpetual, or via the post where completed additional investments form & documents should be sent to this address:

 

Perpetual Investment Funds

GPO Box 4171, Sydney NSW 2001

 

Review the current PDS and related documents. They may have changed since you first invested.

 

Information on Customer Identification Requirements

Find out more about Perpetual Investment Funds

Continuous disclosure and updates for Perpetual Investment Funds

Perpetual Investment Funds New Application

Applications for Perpetual Investment aFunds can be made via investor directed portfolio services. Financial advisers can make applications through the Perpetual application portal online, or via the post where completed application & documents should be sent to this address:

 

Before applying for a Perpetual Investment Fund, it's important to review the Product Disclosure Statement (PDS) and related documents to ensure you understand how the plan works and the risks involved.

 

Perpetual Investment Funds

GPO Box 4171, Sydney NSW 2001

 

Information on Customer Identification Requirements

Find out more about Perpetual Investment Funds

Continuous disclosure and updates for Perpetual Investment Funds

Contact an institutional relationship manager or phone 1800 110 941. Contact

With one of Australia’s largest, most well-resourced and experienced investment teams, Perpetual offers institutional investors expertise across four major investment capabilities: Australian equities; global equities; cash, credit and fixed income; and multi asset strategies. These capabilities can be accessed via pooled investment funds or tailored mandates.

Have Any Questions?

Call your Perpetual Business Development Manager on 1800 062 728.

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What Are The Risks?

All investments carry risk. While it is not possible to identify every risk relevant to your investment, we have provided details of the risks that may affect your investment in the relevant product disclosure statement (PDS) or offer document.

You can find PDSs and other documents in our resources section. The relevant PDS, offer documents and forms can also be found in the sections below:

Investment Superannuation Retirement

Perpetual Investment Management Limited ABN 18 000 866 535 AFSL 234426 and/or Perpetual Superannuation Limited ABN 84 008 416 831 AFSL 225246 are the issuers of the Funds. you should consider the relevant Fund product disclosure statement or other offer document before deciding whether to invest. The product disclosure statements and target market determinations for the Funds are available on this website.

Returns have been calculated using exit prices after taking into account all ongoing fees, and assuming reinvestment of distributions. No allowance has been made for entry fees, exit fees or where applicable taxation. Future returns may bear no relationship to the historical information displayed. The returns shown represent past returns only and are not indicative of future returns of a Fund. Returns on a Fund can be particularly volatile in the short term and in some periods may be negative.

The Fund's investment universe allows it to invest from time to time directly or indirectly in stocks listed on sharemarket exchanges outside of Australia. To help manage the risk profile of the Fund relative to the Australian sharemarket, exposure to stocks listed outside of Australia is limited to 20% and any non-Australian dollar assets may be hedged to the Australian dollar.

The net market exposure is the value of the Fund's long positions minus the value of its short positions. The Fund primarily holds short positions in Australian Shares but may have up to 10% exposure to short positions in global shares.

This information has been prepared by Perpetual Investment Management Limited (PIML) ABN 18 000 866 535, AFSL 234426. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information.

No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital. 

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