• Portfolio Managers:
  Simon Conn
• Benchmark:
  S&P/ASX Small Ordinaries Accumulation Index
• Inception:
  1 Feb 2007
• ARSN:
  122 918 496
• APIR:
  IML0006AU
• Distribution Frequency:
  Generally semi-annually
• Performance fee:
  10.25% (10% inclusive of the net effect of GST) of investment returns made in excess of 2% above Benchmark.
• Management fee:
  1.15% p.a. of the net assets of the fund (includes GST).

Investment Objective

The Fund aims to provide a rate of return (after fees and expenses and before taxes) which exceeds the return of the S&P/ASX Small Ordinaries Accumulation Index on a rolling four year basis.

Investment Strategy

The Fund will invest in a diversified portfolio of quality Australian shares outside the Top 100 shares listed on the ASX and New Zealand shares listed on the NZX, where these shares are identified by our investment team as being undervalued. The Fund may also hold up to 25% of its assets in securities included in the S&P/ASX Midcap 50 Index.

For more information please refer to our Distributions page

Past performance is not indicative of future performance as a result past distributions are not indicative of future distributions.

For the most recent research house ratings report please contact your state manager.

© 2017 Morningstar, Inc. All rights reserved. (Rating assigned November 2016) Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement (Australian products) or Investment Statement (New Zealand products) before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO").

The Zenith Investment Partners (“Zenith”) Australian Financial Services License No. 226872 rating (assigned 28 February 2017) referred to in this document is limited to “General Advice” (as defined by the 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. 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. Zenith usually charges the product issuer, fund manager or a related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessment’s and at http://www.zenithpartners.com.au/RegulatoryGuidelines