Orca Global
Disruption Fund

To provide investors with capital growth over the long-term through exposure to companies that will benefit from disruptive innovation.

Disruption fund menu

NUMBER OF STOCKS

Approximately 10-20

CASH PERCENTAGE

2-50%

HEDGED OR UNHEDGED

Unhedged

BENCHMARK

MSCI ACWI Index

DISTRIBUTION FREQUENCY

Annually

UNIT PRICE

$3.4793 (As at 23/09/2021)

MINIMUM INITIAL INVESTMENT AMOUNT

$5,000

BUY/SELL SPREAD

0.20/0.20%

MANAGEMENT FEE INC. GST

1.46% (of the net asset value of the Fund)

PERFORMANCE FEE

No

Meet the Manager

Raymond Tong

Portfolio Manager

Raymond is Portfolio Manager of the Orca Global Disruption Fund.

He initially began working in financial services as a portfolio reporting analyst with UBS Wealth Management, before moving to a corporate finance role at Ernst & Young.

Raymond then joined Goldman Sachs JBWere as an associate analyst, covering the telecoms, media and gaming sectors, before being made lead...

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:

10-20investments
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 August 2021

NAME SECTOR
Adobe Software
Alphabet Inc Digital advertising
Amazon.com Inc eCommerce
ASML Holding Semiconductors
Facebook Inc Digital advertising
Microsoft Corp Software
Paypal Holdings Inc Electronic payments
Salesforce.com Inc Software
ServiceNow Software
TSMC Semiconductors

Performance

As at 31 August 2021

  1 MONTH 3 MONTHS 6 MONTHS 1 YEAR P.A. 2 YEARS P.A. 3 YEARS P.A. INCEPTION P.A.
Orca Global Disruption Fund 5.8% 18.5% 19.1% 26.6% 34.1% 21.6% 26.3%
MSCI AC World Index (Net, AUD) 3.0% 10.7% 20.2% 30.0% 17.4% 13.7% 15.7%
Excess Return 2.8% 7.9% -1.1% -3.4% 16.7% 8.0% 10.6%

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.

Unit price

DATE
NAV UNIT PRICE
ENTRY UNIT PRICE
EXIT UNIT PRICE
23/09/2021 $3.4793 $3.4863 $3.4723
22/09/2021 $3.4621 $3.4690 $3.4552
21/09/2021 $3.4480 $3.4549 $3.4411
20/09/2021 $3.4272 $3.4341 $3.4203
17/09/2021 $3.4981 $3.5051 $3.4911
16/09/2021 $3.5197 $3.5267 $3.5127
15/09/2021 $3.4878 $3.4948 $3.4808
14/09/2021 $3.4760 $3.4830 $3.4690
13/09/2021 $3.4548 $3.4617 $3.4479
10/09/2021 $3.4705 $3.4774 $3.4636
09/09/2021 $3.4830 $3.4900 $3.4760
08/09/2021 $3.5197 $3.5267 $3.5127
07/09/2021 $3.5431 $3.5502 $3.5360
06/09/2021 $3.5122 $3.5192 $3.5052
03/09/2021 $3.5029 $3.5099 $3.4959
02/09/2021 $3.5003 $3.5073 $3.4933
01/09/2021 $3.5134 $3.5204 $3.5064
31/08/2021 $3.5268 $3.5339 $3.5197
30/08/2021 $3.5326 $3.5397 $3.5255
27/08/2021 $3.4874 $3.4944 $3.4804

*Cum-distribution unit price

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Distributions

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

RECORD DATE PAYMENT DATE DISTRIBUTION PER UNIT
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 Asia Fund Orca Global Fund Orca Global Disruption Fund Evans and Partners Global Healthcare (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

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 1.46%, 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: [email protected]

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
[email protected]
02 9432 3016