Australian equities

Our value-based investment philosophy and disciplined investment process has generated attractive returns for our Australian equity clients for over 30 years.

At the heart of our investment philosophy is our bottom-up stock selection approach, which is driven by in-depth analysis and estimates, prepared by our experienced team of investment professionals.

We use this internal research to help us identify Australian companies that are currently trading at an attractive discount to their true underlying value. These companies may have fallen out of favour with investors in the short-term due to a company-specific announcement, a profit downgrade, a negative growth outlook or a new market trend.

We know from our decades of experience that the market, more often than not, overreacts to many of these short-term events. That’s why we always take a long-term view, as it allows us to look through this short-term ‘noise’ and invest in good companies at attractive prices. It’s an investment approach that some describe as contrarian, given we tend to avoid those companies that are seen as ‘market favourites’. We offer both large and small company investment strategies.

Our process has been consistently applied for over 30 years and is one that continues to provide what our clients want from us.

Australian Equities
Investment philosophy and process

Performance

Fund As at date 1 mth
%
3 mths
%
1 yr
% p.a.
3 yrs
% p.a.
4 yrs
% p.a.
5 yrs
% p.a.
Since inception
% p.a.
Inception
date
Australian equities
Australian Equity Trust 30/06/2019 2.4 6.2 9.7 13.3 7.5 7.3 11.3 Dec 1992
Responsible Investment Fund 30/06/2019 1.8 5.9 7.8 10.6 6.1 6.0 6.9 Sep 2009
Australian Share Fund - Wholesale 30/06/2019 2.4 6.0 8.8 12.7 7.0 6.9 8.4 Jun 1998
Australian Geared Equity Fund - Wholesale 30/06/2019 4.1 10.2 12.7 20.3 9.2 8.9 8.1 Oct 2002
Australian equities - Retail
Australian Share Fund - Retail 30/06/2019 2.3 5.7 7.5 11.4 5.7 5.6 9.6 Jun 1986
Australian Geared Equity Fund - Retail 30/06/2019 3.9 9.7 10.6 18.1 7.2 6.9 4.5 Oct 2002
Please note that the figures above represent past performance, and past performance is not a reliable indicator of future performance. Returns are volatile and may fluctuate quickly and significantly. Neither Maple-Brown Abbott Limited nor any other person makes any representation nor gives any guarantee as to the future performance or success of, the rate of income or capital return from, recovery of money invested in, or income tax or other taxation consequences of, any investment in the trusts shown on this website. Please refer to relevant Fund above for an explanation of how the performance figures are calculated.

Unit prices

Fund Date Redemption price Net asset value Application price
Australian equities
Australian Equity Trust 15/07/2019 $   1.0045 $   1.0064 $   1.0083
Responsible Investment Fund 15/07/2019 $   1.2028 $   1.2051 $   1.2074
Australian Share Fund - Wholesale 15/07/2019 $   1.0034 $   1.0053 $   1.0072
Australian Geared Equity Fund - Wholesale 15/07/2019 $   0.5469 $   0.5488 $   0.5506
Australian equities - Retail
Australian Share Fund - Retail 15/07/2019 $   0.9996 $   0.9996 $   0.9996
Australian Geared Equity Fund - Retail 15/07/2019 $   0.3062 $   0.3072 $   0.3083

Distributions

Fund Date Cents per unit Div 12-H Summary Tax Component Summary
Australian equities
Australian Equity Trust 30/06/2019 9.8735 ¢ Div 12-H Summary n/a
Responsible Investment Fund 30/06/2019 1.1904 ¢ Div 12-H Summary n/a
Australian Share Fund - Wholesale 30/06/2019 7.0792 ¢ Div 12-H Summary Tax Component Summary
Australian Geared Equity Fund - Wholesale 30/06/2019 1.6372 ¢ Div 12-H Summary Tax Component Summary
Australian equities - Retail
Australian Share Fund - Retail 30/06/2019 6.7283 ¢ Div 12-H Summary n/a
Australian Geared Equity Fund - Retail 30/06/2019 0.9185 ¢ Div 12-H Summary n/a

Fact Sheets

Offer Documents

Fees and Costs

Management Costs *

Fund Base
Fee
% 1 & 2
Performance
Fee
% 3
Indirect
Costs
% 3
Recoverable
Expenses
% 3
Total

%
Australian equities
Australian Equity Trust 0.38 n/a n/a 0.01 0.39
Responsible Investment Fund 0.90 n/a n/a n/a 0.90
Australian Share Fund - Wholesale 0.92 n/a n/a n/a 0.92
Australian Geared Equity Fund - Wholesale 1.03 n/a n/a n/a 1.03
Australian equities - Retail
Australian Share Fund - Retail 2.05 n/a n/a n/a 2.05
Australian Geared Equity Fund - Retail 2.05 n/a n/a n/a 2.05
1) Unless otherwise stated, all fees are quoted on a GST inclusive basis and net of any applicable Reduced Input Tax Credits.

2) The base fee is the fee that we charge for managing the assets and overseeing the operations of the Fund, expressed as a percentage of the net asset value of the Fund.

3) All other components of the management costs are based on the performance fee, indirect costs and recoverable expenses incurred during the prior financial year ended 30 June, expressed as a percentage of the net asset value of the Fund. Please refer to relevant Fund above for an explanation of the components of management costs.

* Fees may be negotiated if you are a wholesale investor as defined in the Corporations Act 2001 (Cth).


Transactional and Operational Costs *

Fund Total transactional and
operational costs
% 1
Less buy-sell
spread recovery
%
Net transactional and
operational costs
%
Australian equities
Australian Equity Trust 0.16 0.05 0.11
Responsible Investment Fund 0.09 0.00 0.09
Australian Share Fund - Wholesale 0.11 0.02 0.09
Australian Geared Equity Fund - Wholesale 2.95 0.07 2.88
Australian equities - Retail
Australian Share Fund - Retail 0.11 0.02 0.09
Australian Geared Equity Fund - Retail 2.95 0.07 2.88

1) Based on the estimated costs incurred during the prior financial year ended 30 June, expressed as a percentage of the average Fund net asset value.


* Please refer to relevant Fund above for an explanation of the Transactional and Operational Costs.



Buy / Sell Spreads *

Fund Total spread
%
Australian equities
Australian Equity Trust 0.19 / 0.19
Responsible Investment Fund 0.19 / 0.19
Australian Share Fund - Wholesale 1 0.19 / 0.19
Australian Geared Equity Fund - Wholesale 0.34 / 0.34
Australian equities - Retail
Australian Share Fund - Retail 1 0.00 / 0.00
Australian Geared Equity Fund - Retail 0.34 / 0.34

* The buy-sell spread is an additional cost to you. This ensures existing investors are not disadvantaged due to the costs associated with buying or selling the Fund’s investments as a result of applications and withdrawals.


1)
Wholesale investment only
The buy-sell spread is an additional cost to you. This ensures existing investors are not disadvantaged due to the costs associated with buying or selling the Fund’s investments as a result of wholesale applications and withdrawals.

Retail investment only
There is no buy-sell spread for the ordinary class. Existing investors may be disadvantaged due to the costs associated with buying or selling the Fund’s investments as a result of retail applications and withdrawals.

Forms

Reasons to invest with us