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NUMBER OF STOCKS

Approximately 10-30

CASH PERCENTAGE

2-50%

HEDGED OR UNHEDGED

Unhedged

BENCHMARK

MSCI AC World Index (Net)

(The risk/return profile of the Fund and benchmark differ due to differences in constituents)

DISTRIBUTION FREQUENCY

Annually

UNIT PRICE

$3.1101 (As at 21/02/2024)

MINIMUM INITIAL INVESTMENT AMOUNT

$5,000

BUY/SELL SPREAD

0.20/0.20%

MANAGEMENT FEE INC. GST

1.45% (of the net asset value of the Fund)

PERFORMANCE FEE

No

PERFORMANCE FEE

See PDS and TMD for more details

PERFORMANCE FEE

Meet the team

Orca’s specialist investment expertise, identifies disruptive businesses that can become leaders in their field. Our team collaborate and apply a sustainable approach to invest in high-quality businesses that provide real opportunities for growth over the long-term.

Raymond Tong

Portfolio Manager

James Holston

Investment Analyst

Kunal Valia

Portfolio Manager

Fund strategy

Investment criteria

The Investment Manager will target approximately 10-20 investments (primarily listed companies) which may exhibit some, or all of the following characteristics:

ability to disrupt existing markets and businesses
ability to utilise new technology to disrupt
growth potential
scalability
appropriate capital structure to fund research and development, as well as growth

Market reach

Complementing a relatively large exposure to major listed global companies will be a selection of smaller positions identified by the Investment Manager that have the potential to disrupt existing industries and companies.

The majority of investments are expected to be in overseas companies.

Fund construction

The fund is constructed in a concentrated, benchmark unaware manner. The Investment Manager will target the following investment parameters for the Fund:

10-30investments
30-98%listed international securities
up to 20%listed Australian equities
2-50%cash

At the time of acquisition, there will be a maximum weighting of 15 per cent for any one security and not more than 20 per cent of the fund to comprise unlisted securities, measured at the time of the latest acquisition of unlisted securities.

Risk management

It is not presently intended that the Fund will hedge against currency risk, and as such performance of the Fund will be impacted by currency fluctuations.

Investment committee

The Fund is managed with the input of Raymond Tong, the fund’s Portfolio Manager and an Investment Committee comprised of highly experienced industry professionals including David Thodey, Richard Goyder, Paul Bassat, Sally Herman, Jeffrey Cole and David Evans.

The Investment Committee and Portfolio Manager understand the role that technology and innovation play in global and domestic markets and have deep insight and experience in this type of investing. The Investment Committee will recommend suitable investments to the Investment Manager, which is responsible for approval, trade execution and fund management.

Fund top 10 holdings

As at 31 January 2024

NAME SECTOR
Alphabet Inc Digital advertising
Amazon.com Inc eCommerce
ASML Holding Semiconductors
Intuitive Surgical Healthcare
Mastercard Inc Electronic payments
Microsoft Corp Software
NVIDIA Corp Semiconductors
ServiceNow Software
Spotify Digital entertainment
TSMC Semiconductors
 

Performance - OGDF

Performance

As at 31 January 2024

  1 MONTH 3 MONTHS 6 MONTHS 1 YEAR P.A. 3 YEARS P.A. 5 YEARS P.A. INCEPTION P.A.
Orca Global Disruption Fund 8.7% 24.0% 14.7% 50.7% 1.6% 13.0% 13.7%
MSCI AC World Index (Net, AUD) 4.2% 10.7% 6.1% 22.6% 11.5% 12.3% 11.8%
Excess Return 4.5% 13.3% 8.6% 28.1% -9.9% 0.7% 1.9%

Notes:

  1. All returns beyond one year are annualised. Inception date 25 July 2017.
  2. All returns are total returns, inclusive of reinvested distributions and net of fees and costs using net asset value per unit from inception to, and including, 31 January 2021 and exit unit price from this date.
  3. Index net total returns are sourced from Bloomberg.
  4. Past performance is not indicative of future performance.
  5. The Orca Global Disruption Fund is designed in a benchmark unaware manner. The Investment Manager believes the MSCI AC World Index is appropriate for comparison purposes given the Fund invests in companies across a range of industries including technology, renewable energy, consumer, communication services and healthcare. The risk/return profiles of the Fund and benchmark differ due to differences in the constituents of each. The Fund’s objective is to provide investors with capital growth over the long-term through exposure to companies that benefit from disruptive innovation – in or from any industry/sector, including emerging market listed investments.
 

The chart above reflects the movement over time of a A$10,000 investment made into the Fund on 25 July 2017. The movement is inclusive of all Fund gains/losses as measured by the exit price (or NTA prior to 1 February 2021), including reinvestment of distributions and is net of fees. This example is illustrative only and may vary from actual returns achieved by a unitholder. Past performance is not indicative of future performance.

Notes:

  1. All returns beyond one year are annualised. Inception date 25 July 2017.
  2. All returns are total returns, inclusive of reinvested distributions and net of fees and costs using net asset value per unit from inception to, and including, 31 January 2021 and exit unit price from this date.
  3. Index net total returns are sourced from Bloomberg.
  4. Past performance is not indicative of future performance.
  5. The Orca Global Disruption Fund is designed in a benchmark unaware manner. The Investment Manager believes the MSCI AC World Index is appropriate for comparison purposes given the Fund invests in companies across a range of industries including technology, renewable energy, consumer, communication services and healthcare. The risk/return profiles of the Fund and benchmark differ due to differences in the constituents of each. The Fund’s objective is to provide investors with capital growth over the long-term through exposure to companies that benefit from disruptive innovation – in or from any industry/sector, including emerging market listed investments.

Unit price

DATE
NAV UNIT PRICE
ENTRY UNIT PRICE
EXIT UNIT PRICE
21/02/2024 $3.1101 $3.1163 $3.1039
20/02/2024 $3.1402 $3.1465 $3.1339
19/02/2024 $3.2056 $3.2120 $3.1992
16/02/2024 $3.2128 $3.2192 $3.2064
15/02/2024 $3.2478 $3.2543 $3.2413
14/02/2024 $3.2745 $3.2810 $3.2680
13/02/2024 $3.2249 $3.2313 $3.2185
12/02/2024 $3.2465 $3.2530 $3.2400
9/02/2024 $3.2866 $3.2932 $3.2800
8/02/2024 $3.2484 $3.2549 $3.2419
7/02/2024 $3.1906 $3.1970 $3.1842
6/02/2024 $3.1361 $3.1424 $3.1298
5/02/2024 $3.1597 $3.1660 $3.1534
2/02/2024 $3.1314 $3.1377 $3.1251
1/02/2024 $3.0434 $3.0495 $3.0373
31/01/2024 $2.9687 $2.9746 $2.9628
30/01/2024 $3.0540 $3.0601 $3.0479
29/01/2024 $3.0660 $3.0721 $3.0599
25/01/2024 $3.0216 $3.0276 $3.0156
24/01/2024 $3.0014 $3.0074 $2.9954

*Cum-distribution unit price

Download all

Distributions

Target distribution yield for the Fund is 4% p.a.

RECORD DATE PAYMENT DATE DISTRIBUTION PER UNIT
30 Jun 2022 20 Jul 2022 10 cents
30 Jun 2021 22 Jul 2021 22.0 cents
30 Jun 2020 20 Jul 2020 15.0 cents
29 Jun 2018 20 Jul 2018 4.0 cents

Platform footprint

Platform Orca Global Disruption Fund Evans and Partners Global Disruption Portfolio (SMA)
Asgard eWrap
BT Panorama
Hub24
Macquarie Wrap Accumulator
Powerwrap
Xplore
color Available and open to new investments
color Available but not open to new investments

Fees

Management fee

Currently, the maximum aggregate amount that will be charged to the Fund to cover the Responsible Entity’s fee, the Investment Manager’s fee and ordinary ongoing expenses incurred in the connection with the administration and operation of the Fund such as custodian fees, administration and audit fees, and other ordinary expenses of operating the Fund (but not including transaction costs or extraordinary expenses) will be not more than 1.45%, including GST, of the net asset of the Fund. This figure is inclusive of a 0.15% per annum cap for ordinary expenses.

How to Invest - OGDF

1. Read

Please read the Information booklet here

2. Complete

Apply online

If you are a new or existing investor wanting to apply online, start your application here. You will be guided through the documents and information required to complete your application.

Note: Online application forms submitted to Boardroom Registry after 2pm will not be processed until the following business day.

Fill in paper form

If you are a new investor, please complete the initial application form and required identification form.

If you are an existing investor, please complete the additional investments form.

3. Send

Please mail your Application Form, Identification Form and certified copies of your required identification to:

Boardroom Pty Limited
GPO Box 3993
Sydney NSW 2001

Or email: orcafunds@boardroomlimited.com.au

If you have an adviser, they may be able to assist you. If you are an existing investor, your adviser will require your Boardroom Registry number (which can be found on your latest distribution or holding statement) and postcode to lodge an application on your behalf.

The fund is available on various platforms and the full list can be viewed here.

Announcements

RELEASED DATE DESCRIPTION LINK
14/02/2024 Orca Global Disruption Fund Monthly Update - January 2024 Download
24/01/2024 Orca Global Disruption Fund Quarterly Update - December 2023 Download
16/01/2024 Orca Global Disruption Fund Monthly Update - December 2023 Download
17/12/2023 Orca Global Disruption Fund – Significant Events Notice Download
13/12/2023 Orca Global Disruption Fund Monthly Update - November 2023 Download
20/11/2023 Orca Global Disruption Fund Monthly Update - October 2023 Download
24/10/2023 Orca Global Disruption Fund Quarterly Update - September 2023 Download
17/10/2023 Orca Global Disruption Fund Monthly Update - September 2023 Download
15/09/2023 Orca Global Disruption Fund Monthly Update - August 2023 Download
16/08/2023 Orca Global Disruption Fund monthly Update - July 2023 Download
26/07/2023 Orca Global Disruption Fund Quarterly Update - June 2023 Download
21/07/2023 30 June 2023 – Nil Cash Distribution & 12H Download
14/07/2023 Orca Global Disruption Fund Monthly Update – June 2023 Download
16/06/2023 Estimated Distribution - June 2023 Download
15/06/2023 Orca Global Disruption Fund Monthly Update – May 2023 Download
15/05/2023 Orca Global Disruption Fund Monthly Update – April 2023 Download
28/04/2023 Orca Global Disruption Fund Quarterly Update - March 2023 Download
14/04/2023 Orca Global Disruption Fund Monthly Update – March 2023 Download
15/03/2023 Orca Global Disruption Fund Monthly Update - February 2023 Download
21/02/2023 Orca Global Disruption Fund Monthly Update - January 2023 Download
27/01/2023 Orca Global Disruption Fund Quarterly Update - December 2022 Download
17/01/2023 Orca Global Disruption Fund Monthly Update – December 2022 Download
15/12/2022 Orca Global Disruption Fund - Fund Update Download
14/12/2022 Orca Global Disruption Fund Monthly Update – November 2022 Download
15/11/2022 Orca Global Disruption Fund Monthly Update – October 2022 Download
13/10/2022 Orca Global Disruption Fund Monthly Update – September 2022 Download
09/09/2022 Orca Global Disruption Fund Monthly Update – August 2022 Download
11/08/2022 Orca Global Disruption Fund Monthly Update – July 2022 Download
20/07/2022 30 June 2022 – 12H Download
19/07/2022 Orca Global Disruption Fund Monthly Update – June 2022 Download
22/06/2022 Orca Global Disruption Fund Monthly Update – May 2022 Download
16/06/2022 Estimated Distribution - June 2022 Download
13/05/2022 Orca Global Disruption Fund Monthly Update – April 2022 Download
14/04/2022 Orca Global Disruption Fund Monthly Update – March 2022 Download
18/03/2022 Orca Global Disruption Fund Monthly Update – February 2022 Download
15/02/2022 Orca Global Disruption Fund Monthly Update – January 2022 Download
24/01/2022 Orca Global Disruption Fund Monthly Update – December 2021 Download
10/12/2021 Orca Global Disruption Fund Monthly Update – November 2021 Download
19/11/2021 Orca Global Disruption Fund ESG Notice Download
12/11/2021 Orca Global Disruption Fund Monthly Update – October 2021 Download
14/10/2021 Orca Global Disruption Fund Monthly Update – September 2021 Download
14/09/2021 Orca Global Disruption Fund Monthly Update – August 2021 Download
16/08/2021 Orca Global Disruption Fund Monthly Update – July 2021 Download
28/07/2021 Orca Global Disruption Fund – 30 June 2021 Distribution and 12-H Notice Download
28/07/2021 Orca Global Disruption Fund Monthly Update – June 2021 Download
28/07/2021 Orca Global Disruption Fund – 30 June 2021 Estimated Distribution Download
28/07/2021 Orca Global Disruption Fund Monthly Update – May 2021 Download
28/07/2021 Orca Global Disruption Fund Monthly Update – April 2021 Download
28/07/2021 Orca Global Disruption Fund Monthly Update – March 2021 Download
28/07/2021 Orca Global Disruption Fund Monthly Update – February 2021 Download
28/07/2021 Half-year financial report – December 2020 Download
17/02/2021 Orca Global Disruption Fund Monthly Update – January 2021 Download

Key Documents