MEDIA RELEASE: Lonsec has upgraded four Bennelong Australian Equity Partners (BAEP) funds to ‘Highly Recommended’.
The funds are the Bennelong Australian Equities Fund, the Bennelong Twenty20 Australian Equities Fund, the Bennelong ex-20 Australian Equities Fund and the Bennelong Concentrated Australian Equities Fund.
All four funds are run by BAEP’s single investment team, based on a similar active management, long-only equities strategy that uses a fundamental and bottom-up investment process.
BAEP was founded in 2008 by Mark East in partnership with Bennelong Funds Management.
In its reports for each of the funds, Lonsec said: “This rating reflects Lonsec’s high regard and increased conviction for the experience and calibre of Portfolio Manager and CIO, Mark East, as well as the robust and logical investment process and supportive ‘boutique-with-backing’ ownership structure, which ensures a strong alignment of the investment team.
“Notably, the Fund has delivered an impressive long-term track record of outperformance relative to the benchmark and its peers and has successfully met its investment objective over all assessed time periods.”
It also said: “The Manager adopts a comprehensive stock research process with the key drivers being extensive industry and value chain (competitors, suppliers, customers, regulators) analysis supported by a well- resourced company visitation program.
“Lonsec draws significant comfort from the research process, considering it to be comprehensive and able to identify quality stocks.”
The Bennelong Australian Equities Fund has returned 18.01% over one year, 15.54% p.a. over 3 years, 14.20% p.a. over 5 years and 13.97% p.a. since inception. All four funds are available on multiple platforms, with the Concentrated Fund recently being added to the North platform.