The Board of Pengana Capital Group Limited (ASX: PCG) is pleased to announce the appointment of New Jersey-based Harding Loevner LP (“Harding Loevner”) as the new investment team for the following funds:
- Pengana International Fund
- Pengana International Equities Limited (ASX: PIA)
Established in 1989, Harding Loevner is a highly regarded global equity manager, with over 100 employees responsible for the management of over US$84bn of investments on behalf of some of the world’s largest and most sophisticated investors (including sovereign wealth funds, endowments, pension funds, and family offices).
PCG’s partnership with Harding Loevner provides Australian retail investors exclusive access to Harding Loevner’s extensive global expertise, usually only accessible to institutional investors.
Harding Loevner’s investment approach has generated significant outperformance throughout the strategy’s 32-year track record. An investment in Harding Loevner’s Global Equity strategy at inception in 1989 would today be worth 24 times the initial investment amount compared to an investment in the global equity benchmark that would be worth 9 times.1
Growth of US$100,000 invested in Harding Loevner’s Global Equity strategy since inception (November 1989)1
Source: Harding Loevner, PCG and Bloomberg. MSCI World USD refers to MSCI World Index (USD). Returns presented are in USD and before deducting any fees and expenses. Past performance is not a reliable indicator of future performance.
As a result of this appointment, the Pengana International Fund and Pengana International Equities Limited (PIA) will employ the same investment strategy as Harding Loevner’s Global Equity strategy.
Additionally, PIA (being the largest international ethical listed investment company on the ASX) will follow PIA’s ethical screen, as well as continue to target fully franked quarterly dividends for its shareholders.
In line with the appointment, the Pengana International Fund will be renamed the:
Pengana Harding Loevner International Fund
Russel Pillemer, CEO of Pengana Capital Group said: “We are extremely pleased to be able to partner with such a highly regarded team. Harding Loevner are truly one of the finest international equity managers worldwide, with an exceptional long-term track record of outperformance. We think that this is a very positive development for our shareholders – and have a high degree of confidence that shareholders will benefit from strong long-term returns.”