Pengana international funds receive recommended ratings following investment manager changes


Diversified funds management group, Pengana Capital, has completed a re-rating cycle with upgrades by Lonsec for several international investment strategies, following changes to the investment teams earlier this year.

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.

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