Targeting consistent distributions
Although income from the Fund’s portfolio of securities will fluctuate, it is intended that the Fund will provide a steady cash flow, targeting a cash distribution of 4% per annum based on the NAV at or around the beginning of the relevant distribution period, paid semi-annually.
The Investment Manager will target a concentrated fund of 30-50 undervalued listed securities predominantly domiciled in the Asia ex Japan region which may exhibit some, or all of the following characteristics:
Quality Management
Good Corporate Governance Standards
Sound Business Model
Solid Financial Position
Sufficient Growth to Justify a Future Premium Over the Current PriceInvestments can be considered within China, India, Hong Kong, Singapore, South Korea, Taiwan, Indonesia, Thailand, Malaysia, and other Asian countries. The fund will be overweight countries and sectors which the Investment team believe offer greater potential for higher risk-adjusted returns.
Up to 20 per cent of fund's securities may be domiciled outside the Asia ex Japan region to allow for companies that fit within the theme of Asian investment but are domiciled elsewhere.
The Investment Manager will target the following fund construction parameters, represented as a proportion of the gross value of the Fund (where applicable):
At time of purchase, or addition to holdings, there will be a maximum weighting of:
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. The Investment team will actively manage the risk profile of the Fund to provide unitholders with an appropriate level of down-side protection and upside gain as broader investor sentiment in the market fluctuates.
As at 30 June 2022
| NAME | SECTOR |
|---|---|
| Alibaba Group Holding Ltd | Consumer Discretionary |
| CP ALL PCL | Consumer Staples |
| HCL Technologies Ltd | Information Technology |
| HDFC Bank Ltd | Financials |
| Ping An Insurance Group Co of China Ltd | Financials |
| Techtronic Industries Co Ltd | Industrials |
| Tencent Holdings Ltd | Communication Services |
| TSMC | Information Technology |
| Uni-President Enterprises Corp | Consumer Staples |
| United Overseas Bank Ltd | Financials |
As at 30 June 2022
| 1 MONTH | 3 MONTHS | 6 MONTHS | 1 YEAR P.A. | 2 YEARS P.A. | 3 YEARS P.A. | INCEPTION P.A. | |
|---|---|---|---|---|---|---|---|
| Orca Asia Fund | -3.7% | -3.6% | -14.0% | -14.5% | 1.0% | 2.6% | 2.7% |
| MSCI Asia ex-Japan Index (AUD) | -0.7% | -1.3% | -11.9% | -18.7% | 2.2% | 2.6% | 1.7% |
| Excess Return | -3.0% | -2.2% | -2.1% | 4.2% | -1.1% | 0.0% | 1.0% |
Notes:
The chart above reflects the movement over time of a A$10,000 investment made into the Fund on 14 May 2018. 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:
| 7/07/2022 | $1.2109 | $1.2133 | $1.2085 |
| 6/07/2022 | $1.2070 | $1.2094 | $1.2046 |
| 5/07/2022 | $1.2154 | $1.2178 | $1.2130 |
| 4/07/2022 | $1.1945 | $1.1969 | $1.1921 |
| 1/07/2022 | $1.2090 | $1.2114 | $1.2066 |
| 30/06/2022 | $1.1936 | $1.1960 | $1.1912 |
| 30/06/2022 | $1.222* | $1.2244* | $1.2196* |
| 29/06/2022 | $1.2695 | $1.2720 | $1.2670 |
| 28/06/2022 | $1.2804 | $1.2830 | $1.2778 |
| 27/06/2022 | $1.2749 | $1.2774 | $1.2724 |
| 24/06/2022 | $1.2637 | $1.2662 | $1.2612 |
| 23/06/2022 | $1.2452 | $1.2477 | $1.2427 |
| 22/06/2022 | $1.2279 | $1.2304 | $1.2254 |
| 21/06/2022 | $1.2413 | $1.2438 | $1.2388 |
| 20/06/2022 | $1.2280 | $1.2305 | $1.2255 |
| 17/06/2022 | $1.2396 | $1.2421 | $1.2371 |
| 16/06/2022 | $1.2294 | $1.2319 | $1.2269 |
| 15/06/2022 | $1.2497 | $1.2522 | $1.2472 |
| 14/06/2022 | $1.2597 | $1.2622 | $1.2572 |
| 10/06/2022 | $1.2730 | $1.2755 | $1.2705 |
*Cum-distribution unit price
Download allTarget distribution yield for the Fund is 4% p.a.
| RECORD DATE | PAYMENT DATE | DISTRIBUTION PER UNIT |
|---|---|---|
| 30 Jun 2022 | 01 Aug 2022 | 2.84 cents |
| 31 Dec 2021 | 12 Jan 2022 | 2.913 cents |
| 30 Jun 2021 | 30 Jul 2021 | 3.7085 cents |
| 31 Dec 2020 | 25 Jan 2021 | 2.54 cents |
| 30 Jun 2020 | 31 July 2020 | 2.68 cents |
| 31 Dec 2019 | 3 Feb 2020 | 2.6 cents |
| 28 Jun 2019 | 2 Aug 2019 | 2.6 cents |
| 31 Dec 2018 | 4 Feb 2019 | 2.6 cents |
| 29 June 2018 | 3 August 2018 | 2.6 cents |
| Platform | Orca Asia Fund | Orca Global Fund | Orca Global Disruption Fund | Evans and Partners Global Healthcare Portfolio (SMA) | Evans and Partners Global Disruption Portfolio (SMA) |
|---|---|---|---|---|---|
| Asgard eWrap | |||||
| BT Panorama | |||||
| Hub24 | |||||
| Macquarie Wrap Accumulator | |||||
| Netwealth | |||||
| Xplore |
| color | Available and open to new investments |
| color | Available but not open to new investments |
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, performance fees or extraordinary expenses) will be not more than 1.37%, including GST, of the net asset value of the Fund.
The Investment Manager of the Fund may be entitled to a performance fee, payable out of the assets of the Fund. Performance fees are calculated with reference to the index return hurdle and the absolute return hurdle, and are subject to a high water mark requirement and an overall cap. The daily net asset value (NAV) per unit includes an accrual for an estimate of the performance fee that would be payable if it were the end of the relevant calculation period. The index return for the Fund is, the return (expressed as a percentage) of the MSCI Asia ex Japan net total return index (measured in US dollars and converted to Australian dollars) over the calculation period. The applicable absolute return hurdle is the published 10-year US Government Bond yield as at the first business day of the calculation period, pro-rated for the number of days in the calculation period.
Please read the Product Disclosure Statement (PDS) and information booklet here
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.
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.
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.
If you would like to submit a request for a platform to be added, please contact:
Peter Folkes – Head of Distribution
peter.folkes@orcafunds.com.au
02 9432 3016
