Investments

Defender Global Fund

Current NAV

$0.8273 AUD

(August 31 2023)

The Defender Global Fund (Fund) provides investors with exposure to global markets through a long and short strategy.

The Fund starts with the Managers global macroeconomic and market outlook, then overlays key thematic’s which the Manager believes will affect future performance and combines this with a bottom-up investment decision criteria.

The Manager will target the following guidelines:

1. Gross Exposure: between 100% and 200%;
2. Net Exposure: between 20% and 100%;
3. Position Size: maximum 20% Net Asset Value at cost; and
4. Number of Positions: minimum of 5.

Vertua Opportunities Fund

Current NAV

$1.2600 AUD

(Dec 31 2022)

The Fund was established to acquire Tourism and Hospitality assets throughout Australia. Since inception the Fund has successfully acquired 6 assets in New South Wales, Victoria and Tasmania, carefully selecting venues which provide a combination of both strong income and future capital growth. The Fund was constructed around two core investment pillars, being Income and Capital Growth, which are core to the Vertua strategy for the Fund. The Fund seeks to acquire both passive investments as well as actively managed businesses. Fund’s managers believe the opportunities still exist post Covid-19 because:

1. Fund acquires strategic, predominately regionally focused, Australian assets
2. Assets need to meet Fund’s investment criteria, which sets strict criteria for acquisition
3. Historical tourism growth has been estimated at 5.6% a year
4. Highly fragmented industry, with both institutional assets and smaller “owner operated” assets presents an opportunity to acquire assets
5. Synergies from a group management structure provides additional operational returns for each acquired business.