Diversified funds management group, Pengana Capital, has completed a re-rating cycle with upgrades by Lonsec for several international investment strategies.
US-based USD84 billion manager Harding Loevner was appointed to manage the Pengana Harding Loevner International Fund, which invests in high quality, growing companies with a long-term global perspective, and the Pengana International Equities Limited (ASX: PIA), the largest international ethical LIC on the ASX.
Axiom Investors, a Connecticut-based global equity fund manager with over USD19 billion in assets under management, was appointed to the Pengana Axiom International Ethical Funds, which are available both hedged and unhedged.
All funds have been awarded ‘Recommended’ ratings by Lonsec and Zenith following a round of out-of-cycle assessments after the previous management teams were replaced. Additionally, SQM rated the unlisted funds “Superior”, whilst PIA received a recommended rating from IIR.
Adam Myers, Head of Distribution at Pengana Capital, said these ratings strongly endorse Pengana’s ability to source and appoint high quality investment managers for its Funds. “We have never had better ratings for our international strategies across the board.
“These upgrades show confidence in Harding Loevner and Axiom, two best-of-breed and differentiated managers, which echoes the confidence we have seen from investors.
“Both investment strategies have very long-term track records going back 31 and 23 years respectively, which demonstrate their ability to deliver superior performance across market cycles.”
Mr Myers said current volatility in global markets would create investment opportunities. “We’re seeing some volatility and some murmurs about a correction, but from a longer-term view this provides opportunity to buy quality companies at good prices.”
The ratings mean Pengana’s entire rated international fund suite, which also includes the Pengana Global Small Companies Fund and The Pengana WHEB Sustainable Impact Fund, have at least a “Recommended” rating in place from both Lonsec and Zenith.
“We’re incredibly proud to bring these quality and unique international managers and investment opportunities to Australian investors”, Mr Myers said.
Lonsec rating issued 09/2021 is 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. © 2020 Lonsec. All rights reserved.
The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned August 2021) referred to in this document is limited to “General Advice” (s766B 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 and is subject to change at any time without prior notice. 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. 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 http://www.zenithpartners.com.au/RegulatoryGuidelines
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