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Anton Tagliaferro, IML’s founder, announced in September that he would be retiring from IML in March 2023, though he will remain consulting to IML until June 2023 to ensure a smooth handover. March 2023 will coincide with the 25th anniversary of IML which Anton founded with the purpose of creating a research-driven value fund manager focused on building portfolios of Australian companies that represent both ‘quality and value’.

MEDIA RELEASE

Ratings houses re-affirm IML fund ratings

Since the announcement, rating houses Lonsec, Morningstar and Zenith have all reaffirmed their ratings for IML’s funds. Here are the key comments from their updates:

  • “Lonsec is impressed with the prudent transition of responsibilities within IML”
  • Morningstar – “IML has handled the succession planning in a responsible and measured manner”
  • Zenith – “we have conviction in the capabilities of those that have been assigned additional portfolio management responsibilities.”

Anton’s letter to clients announcing his retirement

This is a lightly edited version of the email Anton sent to clients on 14 September, 2022 

25 years after founding IML I will be retiring from the company in March 2023, although I will be staying on as a consultant until June 2023 to ensure a smooth hand over.

First of all, I would like to thank all the clients who have supported IML through what was a very eventful 25 years – without you I would not have been given the opportunity to do what I was passionate about every day.

I started IML in 1998 with the purpose of creating a research-driven value fund manager that was very focussed on the needs of our clients. We have always aimed to build portfolios of quality Australian equities that deliver reasonable capital growth and consistent income over the long-term, whilst experiencing less volatility than the overall market – and I believe we have successfully delivered on this objective over the last 25 years.

I have been planning my retirement with the IML leadership team for some time. Over the last ten years the various IML portfolio managers have taken over the responsibility for the management of the majority of our client funds. With my role having been to ensure funds continued to be managed with the same ‘quality and value’ approach to investing as from IML’s inception in 1998.

All of IML’s funds will continue to be managed by the experienced team of portfolio managers who have all been working at IML for over a decade and who are well known to all of you. Simon Conn, who joined me at IML on day one in 1998, will continue to lead the small cap team. Hugh Giddy will remain Head of Research and continue to lead the large cap team along with Portfolio Managers Daniel Moore and Michael O’Neill, who all joined IML in 2010.

I wish you all the best for the future and thank you once again for your support.

Anton Tagliaferro
Founder & Investment Director
Investors Mutual Limited

 

Disclaimers

While the information contained in this article has been prepared with all reasonable care, Investors Mutual Limited (AFSL 229988) accepts no responsibility or liability for any errors, omissions or misstatements however caused. This information is not personal advice. This advice is general in nature and has been prepared without taking account of your objectives, financial situation or needs. The fact that shares in a particular company may have been mentioned should not be interpreted as a recommendation to buy, sell, or hold that stock. Past performance is not a reliable indicator of future performance. The relevant Product Disclosure Statements can be obtained by contacting Investors Mutual or at www.iml.com.au. Potential investors should consider the relevant Product Disclosure Statement, and Investment Guide where applicable, before deciding whether to invest, or continue to invest in the Funds. The relevant Target Market Determinations are available on www.iml.com.au.

The ratings re-affirmed on 10/2022 <IML0002AU, IML0003AU, IML0004AU, IML0010AU> are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2022 Lonsec. All rights reserved.

Source: Morningstar Global Fund Report published on 16 Sep 2021 for Investors Mutual WS Australian Share strategy.
© 2022 Morningstar, Inc. All rights reserved. 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 ‘regulated financial advice’ under New Zealand law has 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. For more information refer to our Financial Services Guide (AU) or Financial Advice Provider Disclosure Statement (NZ) at www.morningstar.com.au/s/fsg.pdf and www.morningstar.com.au/s/fapds.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement 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.

‘Zenith Investment Partners (“Zenith”) (ABN 27 103 132 672, AFS Licence 226872) is the provider of General Advice (s766B Corporations Act 2001). General Advice provided by Zenith is limited to Wholesale clients only. This document has been prepared by Zenith exclusively for Zenith clients without taking into account the objectives, financial situation or needs of any specific person who may read it, including target markets of financial products, where applicable. It is not a specific recommendation to purchase, sell or hold any relevant product(s) and is subject to change at any time without prior notice. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of any advice in this document in light of their own objectives, financial situation or needs. Investors should obtain a copy of, and consider, any relevant product PDS or offer document before making any decision and refer to the full Zenith Product Assessment/s available on the Zenith website. This document is confidential and subject to copyright and may not be reproduced, modified or distributed without the consent of the copyright owner. The information contained in this document has been prepared in good faith and is believed to be reliable at the time it was prepared, however, no representation, warranty or undertaking is given or made in relation to the accuracy or completeness of the information presented in this document. Information contained in this document may be supplied by third parties.  Except for any liability which cannot be excluded, Zenith does not accept any liability, whether direct or indirect arising from the use of information contained in this document or data supplied by third parties. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines’.

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