PM CAPITAL announces name changes to funds.
Boutique equity and income manager, PM CAPITAL, has renamed its three equity funds to better communicate the funds’ investment strategies to investors.
In summary:
- PM CAPITAL Absolute Performance Fund will become PM CAPITAL Global Companies Fund
- PM CAPITAL Emerging Asia Fund will become PM CAPITAL Global Companies Fund
- PM CAPITAL Australian Opportunities Fund will become PM CAPITAL Asian Companies FundPM CAPITAL Australian Companies Fund
Chris Donohoe, PM CAPITAL’s CEO said, “Renaming our equity funds is a logical step to highlight to investors what it is we actually do; invest in companies.”
“At the inception of the Absolute Performance Fund in 1998, the reference to “absolute performance” simply recognised that the fund was not aligned with a benchmark; rather, investments were selectively assembled to provide capital growth based on their individual merit.”
“However, more than 15 years later, the general market perception of the term “absolute performance” has evolved into a description of “market neutral”, where a promise of low short-term volatility is offset by limited upside.”
“As fundamental stock-pickers and long term investors in businesses, this does not reflect PM CAPITAL’s investment philosophy.”
“We remain vigilant in executing our investment process with the objective of delivering long-term absolute capital growth for our investors. Our investment philosophy and process remains the same as it was at inception in 1998, and we look forward to continuing this in the many years ahead.”
The amendments for the funds, as summarised above, will become effective on the lodgement of updated constitutions and the issue of a new Product Disclosure Statement (PDS) on 13 October 2014.
