The Pengana Alpha Israel Fund invests principally in listed Israeli companies that produce cutting edge – both high and low tech – technologies. These Israeli companies have developed solid intellectual property coupled with strong global distribution.
The Fund offers Australian Wholesale investors diversification into a unique and promising market that is very much skewed to industries and technology sectors which are either limited, or do not exist, in the Australian market place, such as the semiconductor industry, solar and water treatment technology, aerospace and electronic defence industries, and cybersecurity technologies.
The Pengana Israel Alpha Fund is managed by Alpha LTI, a boutique Israel manager established in 2005 with an impressive track record.
Alpha typically focuses on
The Fund invests predominantly in publicly listed Israeli securities, however it may also invest in unlisted Pre-IPO securities that are expected to be listed within 6 months. Up to 20% of the Fund can be invested in Pre-IPO opportunities.
THE ISRAEL OPPORTUNITY
A GLOBAL LEADER IN INNOVATION & TECHNOLOGY
- Israel ranks #1 in the world in expenditure on research and development as a percentage of GDP.
- Israel contains the largest number of NASDAQ-listed companies in the world outside of the US and China, despite having a population of less than 9 million people.
- Largest number of start-ups per capita in the world – around 1 start-up for every 1400 people.
- 450+ Listed Equity Companies, 64 cross-listed abroad
- 9 Universities, 12 Nobel Laureates
- More than 270 multinational corporations (MNCs) have established more than 320 advanced R&D facilities throughout the country to take advantage of Israeli innovation. The list includes the likes of: Google, Apple, Facebook, Microsoft, Intel, Yahoo!, Motorola, HP, Siemens, GE, GM, IBM and Cisco.
- A number of high-profile exits in recent years – Waze (sold to Google for $13 billion), Mobileye (sold to Intel for $15.3bn), SodaStream (sold to PepsiCo for $3.4bn), etc.
- Knowledge based economy with highest concentration of PhD’s, engineers & patents filled per capita
The Pengana Alpha Israel Fund is uniquely positioned to capture the investment opportunities in some of Israel’s most attractive sectors with a locally based investment team in possession of an established reputation and deep industry ties.
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PERFORMANCE
- CHART
- TABLE
- UNIT PRICES
Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
Alpha Israel Fund Class A (AUD)
PERFORMANCE AT 28 Feb 2021
| 1 MTH | 1 YEAR | 2 YEARS P.A. | 3 YEARS P.A. | SINCE INCEPTION P.A. | |
|---|---|---|---|---|---|
| Alpha Israel Fund Class A | -0.9% | 10.8% | 15.8% | 12.5% | 11.8% |
| Tel Aviv Stock Exchange 125 Index | -1.2% | 4% | 5.9% | 5.6% | 5.3% |
| Tel Aviv Stock Exchange Small And Medium Cap 60 Index | 0.6% | 33% | 13.8% | 3% | 2.8% |
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Alpha Israel Fund Class B (USD)
PERFORMANCE AT 28 Feb 2021
| 1 MTH | 1 YEAR | 2 YEARS P.A. | 3 YEARS P.A. | SINCE INCEPTION P.A. | |
|---|---|---|---|---|---|
| Alpha Israel Fund Class B | -1% | 16.5% | 17.8% | 13.7% | 12.9% |
| Tel Aviv Stock Exchange 125 Index | -1.2% | 4% | 5.9% | 5.6% | 5.3% |
| Tel Aviv Stock Exchange Small And Medium Cap 60 Index | 0.6% | 33% | 13.8% | 3% | 2.8% |
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Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
Class A (AUD)
| DATE | APPLICATION | REDEMPTION | DISTRIBUTIONS |
|---|---|---|---|
| 31/03/2021 | 1.2859 | 1.2795 | – |
| 28/02/2021 | 1.2971 | 1.2907 | – |
| 31/01/2021 | 1.3092 | 1.3026 | – |
| 31/12/2020 | 1.2859 | 1.2795 | – |
| 30/11/2020 | 1.2224 | 1.2164 | – |
| 31/10/2020 | 1.1630 | 1.1572 | – |
| 30/09/2020 | 1.1584 | 1.1526 | – |
| 31/08/2020 | 1.1564 | 1.1506 | – |
| 31/07/2020 | 1.0835 | 1.0781 | – |
| 30/06/2020 | 1.1534 | 1.1476 | 0.1055 |
| 31/05/2020 | 1.1905 | 1.1845 | – |
| 30/04/2020 | 1.1902 | 1.1842 | – |
| 31/03/2020 | 1.1331 | 1.1275 | – |
| 29/02/2020 | 1.2892 | 1.2828 | – |
| 31/01/2020 | 1.3111 | 1.3045 | – |
| 31/12/2019 | 1.2556 | 1.2494 | – |
| 30/11/2019 | 1.2542 | 1.2480 | – |
| 31/10/2019 | 1.2324 | 1.2262 | – |
| 30/09/2019 | 1.2123 | 1.2063 | – |
| 31/08/2019 | 1.1729 | 1.1671 | – |
| 31/07/2019 | 1.1345 | 1.1289 | – |
| 30/06/2019 | 1.1205 | 1.1149 | – |
| 31/05/2019 | 1.0940 | 1.0886 | – |
| 30/04/2019 | 1.1128 | 1.1072 | – |
| 31/03/2019 | 1.0725 | 1.0671 | – |
| 28/02/2019 | 1.0648 | 1.0594 | – |
| 31/01/2019 | 1.0245 | 1.0193 | – |
| 31/12/2018 | 0.9882 | 0.9832 | – |
| 30/11/2018 | 1.0175 | 1.0125 | – |
| 31/10/2018 | 1.0202 | 1.0152 | – |
| 30/09/2018 | 1.0437 | 1.0385 | – |
| 31/08/2018 | 1.0490 | 1.0438 | – |
| 31/07/2018 | 1.0069 | 1.0019 | – |
| 30/06/2018 | 1.0015 | 0.9965 | – |
| 31/05/2018 | 1.0033 | 0.9983 | – |
| 30/04/2018 | 0.9890 | 0.9840 | – |
| 31/03/2018 | 0.9887 | 0.9837 | – |
| 28/02/2018 | 1.0021 | 0.9971 | – |
| 31/01/2018 | 0.9967 | 0.9917 | – |
| 31/12/2017 | 1.0000 | 0.9975 | – |
| 18/12/2017 | 1.0000 | 0.0000 | – |
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Class B (USD)
| DATE | APPLICATION | REDEMPTION | DISTRIBUTIONS |
|---|---|---|---|
| 31/03/2021 | 1.3388 | 1.3322 | – |
| 28/02/2021 | 1.3507 | 1.3439 | – |
| 31/01/2021 | 1.3641 | 1.3573 | – |
| 31/12/2020 | 1.3356 | 1.3290 | – |
| 30/11/2020 | 1.2661 | 1.2597 | – |
| 31/10/2020 | 1.2008 | 1.1948 | – |
| 30/09/2020 | 1.1948 | 1.1888 | – |
| 31/08/2020 | 1.2014 | 1.1954 | – |
| 31/07/2020 | 1.1197 | 1.1141 | – |
| 30/06/2020 | 1.1520 | 1.1462 | 0.0952 |
| 31/05/2020 | 1.1860 | 1.1800 | – |
| 30/04/2020 | 1.1860 | 1.1800 | – |
| 31/03/2020 | 1.1364 | 1.1308 | – |
| 29/02/2020 | 1.2642 | 1.2578 | – |
| 31/01/2020 | 1.2830 | 1.2766 | – |
| 31/12/2019 | 1.2335 | 1.2273 | – |
| 30/11/2019 | 1.2319 | 1.2257 | – |
| 31/10/2019 | 1.2118 | 1.2058 | – |
| 30/09/2019 | 1.1936 | 1.1876 | – |
| 31/08/2019 | 1.1584 | 1.1526 | – |
| 31/07/2019 | 1.1245 | 1.1189 | – |
| 30/06/2019 | 1.1120 | 1.1064 | – |
| 31/05/2019 | 1.0879 | 1.0825 | – |
| 30/04/2019 | 1.1046 | 1.0990 | – |
| 31/03/2019 | 1.0678 | 1.0624 | – |
| 28/02/2019 | 1.0607 | 1.0555 | – |
| 31/01/2019 | 1.0234 | 1.0182 | – |
| 31/12/2018 | 0.9894 | 0.9844 | – |
| 30/11/2018 | 1.0160 | 1.0110 | – |
| 31/10/2018 | 1.0186 | 1.0136 | – |
| 30/09/2018 | 1.0403 | 1.0351 | – |
| 31/08/2018 | 1.0451 | 1.0399 | – |
| 31/07/2018 | 1.0064 | 1.0014 | – |
| 30/06/2018 | 1.0013 | 0.9963 | – |
| 31/05/2018 | 1.0031 | 0.9981 | – |
| 30/04/2018 | 0.9891 | 0.9841 | – |
| 31/03/2018 | 0.9886 | 0.9836 | – |
| 28/02/2018 | 1.0018 | 0.9968 | – |
| 31/01/2018 | 0.9966 | 0.9916 | – |
| 31/12/2017 | 1.0000 | 0.9975 | – |
| 18/12/2017 | 1.0000 | 0.0000 | – |
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PORTFOLIO
- TOP HOLDINGS (alphabetically)
- Portfolio breakdown
THE TEAM
Fund Facts
Investment Objective
The goal of the Fund is to achieve long-term capital growth by investing in Israeli and Israeli-related companies, generating returns that consistently outperform the relevant benchmarks. Returns are not guaranteed.
Who Can Invest?
Wholesale clients as defined in the Corporations Act
Minimum Investment Amount
A$250,000
(Pengana, as trustee of the fund, reserves the right to accept lower investment amounts)
Fee Structure*
Management fee – 1.5% per annum paid monthly in arrears
Performance fee – 20% above the Hurdle with a high water mark, paid semi-annually in arrears
Hurdle
4%
Buy/Sell Spread
0.25% / 0.25%
Applications and Redemptions
Monthly
Distribution Frequency
The Fund aims to pay distributions annually
Recommended Investment Term
5+ years
*Fees are stated inclusive of GST and net of RITC. For more information, refer to the Fund’s product disclosure statement available under the Reports & Resources section.
REPORTS AND RESOURCES
- Monthly Reports
- IM
- Feb 2021 - A bounce-back in the value sector, with profit-taking in growth
- January 2021 - Divergence in the market
- December 2020 - 2020 REVIEW. 2021 PREVIEW.
- November 2020 - A BOUNCE FOR COVID UNDERPERFORMERS
- October 2020 - Semiconductors and IT drive returns
- September 2020 - Confidence despite the crisis
- August 2020 - Sector exposure drives performance
- July 2020 - Healthcare stocks
- June 2020 - Growing exposure to value companies - contrary to consensus views
NEWS AND INSIGHTS
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