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Alpha Israel Fund

An Israeli equity fund investing in cutting edge technologies

LATEST REPORT:
Divergence in the market
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Overview Performance Portfolio The Team Fund Facts Ratings Reports & Resources

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

high-growth Israeli industries that have competitive technological, product or market advantages

mature and profitable companies

companies that are under the radar with low analyst coverage

companies that have best-in-class management

companies that place a fundamental emphasis on free cash flow – enabling consistent dividend payouts

Private IPOs with lucrative growth potential

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 31 Jan 2021
1 MTH1 YEAR2 YEARS3 YEARSSINCE INCEPTION
Alpha Israel Fund Class A1.8%9.9%18.6%13.1%12.5%
Tel Aviv Stock Exchange 125 Index3.6%-0.7%7.2%4.9%5.8%
Tel Aviv Stock Exchange Small And Medium Cap 60 Index10.6%21.6%12.5%2.1%2.7%

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Alpha Israel Fund Class B (USD)

PERFORMANCE AT 31 Jan 2021
1 MTH1 YEAR2 YEARS3 YEARSSINCE INCEPTION
Alpha Israel Fund Class B2.1%15.9%20.5%14.3%13.6%
Tel Aviv Stock Exchange 125 Index3.6%-0.7%7.2%4.9%5.8%
Tel Aviv Stock Exchange Small And Medium Cap 60 Index10.6%21.6%12.5%2.1%2.7%

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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)
DATEAPPLICATIONREDEMPTIONDISTRIBUTIONS
31/01/20211.30921.3026–
31/12/20201.28591.2795–
30/11/20201.22241.2164–
31/10/20201.16501.1592–
30/09/20201.15841.1526–
31/08/20201.15641.1506–
31/07/20201.08351.0781–
30/06/20201.15341.14760.1055
31/05/20201.19051.1845–
30/04/20201.19021.1842–
31/03/20201.13311.1275–
29/02/20201.28921.2828–
31/01/20201.31111.3045–
31/12/20191.25561.2494–
30/11/20191.25421.2480–
31/10/20191.23241.2262–
30/09/20191.21231.2063–
31/08/20191.17291.1671–
31/07/20191.13451.1289–
30/06/20191.12051.1149–
31/05/20191.09401.0886–
30/04/20191.11281.1072–
31/03/20191.07251.0671–
28/02/20191.06481.0594–
31/01/20191.02451.0193–
31/12/20180.98820.9832–
30/11/20181.01751.0125–
31/10/20181.02021.0152–
30/09/20181.04371.0385–
31/08/20181.04901.0438–
31/07/20181.00691.0019–
30/06/20181.00150.9965–
31/05/20181.00330.9983–
30/04/20180.98900.9840–
31/03/20180.98870.9837–
28/02/20181.00210.9971–
31/01/20180.99670.9917–
31/12/20171.00000.9975–
18/12/20171.00000.0000–

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Download Unit Prices
Class B (USD)
DATEAPPLICATIONREDEMPTIONDISTRIBUTIONS
31/01/20211.36411.3573–
31/12/20201.33561.3290–
30/11/20201.26611.2597–
31/10/20201.19651.1905–
30/09/20201.19481.1888–
31/08/20201.20141.1954–
31/07/20201.11971.1141–
30/06/20201.15201.14620.0952
31/05/20201.18601.1800–
30/04/20201.18601.1800–
31/03/20201.13641.1308–
29/02/20201.26421.2578–
31/01/20201.28301.2766–
31/12/20191.23351.2273–
30/11/20191.23191.2257–
31/10/20191.21181.2058–
30/09/20191.19361.1876–
31/08/20191.15841.1526–
31/07/20191.12451.1189–
30/06/20191.11201.1064–
31/05/20191.08791.0825–
30/04/20191.10461.0990–
31/03/20191.06781.0624–
28/02/20191.06071.0555–
31/01/20191.02341.0182–
31/12/20180.98940.9844–
30/11/20181.01601.0110–
31/10/20181.01861.0136–
30/09/20181.04031.0351–
31/08/20181.04511.0399–
31/07/20181.00641.0014–
30/06/20181.00130.9963–
31/05/20181.00310.9981–
30/04/20180.98910.9841–
31/03/20180.98860.9836–
28/02/20181.00180.9968–
31/01/20180.99660.9916–
31/12/20171.00000.9975–
18/12/20171.00000.0000–

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Download Unit Prices
Where a distribution is shown, the price for that date is prior to the payment of the distribution. The following day's price will exclude that distribution payment amount.

PORTFOLIO

  • TOP HOLDINGS (alphabetically)
  • Sector breakdown
Doral Group Renewable Energy R
Israel
Renewable Electricity
Human Xtensions Ltd
Israel
Health Care Equipment
Peninsula Group
Israel
Specialized Finance
Priortech Ltd
Israel
Electronic Components
Telsys
Israel
Technology Distributors

THE TEAM

Gabi Dishi

Gabi Dishi

Founder & CEO

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Michael Weiss

Michael Weiss

Founder & Managing Partner

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Aviran Revivo

Aviran Revivo

Managing Partner

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Sagi Ben-Yosef

Sagi Ben-Yosef

Managing Partner

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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
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