Colin Woods
PAN-Tribal Asset Management has announced that the Barwon Global Listed Private Equity Fund AF (Fund) has retained its ‘Recommended’ rating following Zenith’s recent review of the ‘Alternatives – Private Equity’ sector.
The Fund has now held this rating for three years.
Managed by Sydney-based Barwon Investment Partners and distributed by PAN-Tribal Asset Management, the Fund aims to provide investors with a high performing portfolio of private equity investments in a fee efficient manner, while offering daily liquidity.
According to Zenith’s report, the research house noted the Fund offers a “differentiated exposure” to its peers and believes Barwon’s ability to capture a “private market premium” across a mix of standalone companies and listed funds is a key competitive advantage.
Zenith’s report speaks highly of the investment team: Sam Armstrong, Head of Private Equity is considered by Zenith to be a high-quality private equity specialist, and Lead Portfolio Manager Bob Liu is held in high regard, owing to his bottom-up research capabilities. Zenith also “believes the broader team has the necessary skills and experience to support the management of the strategy”.
The research house also commented on its positive view of Barwon’s investment process and its “ability to identify mispriced opportunities across a heterogeneous universe”, which it described as a key “competitive advantage”.
Zenith notes Barwon’s ability to “invest across a wide spectrum of securities, including actual PE managers, listed funds trading at deep discounts and listed companies that are controlled by PE sponsors”. In Zenith’s opinion, “the breadth of the opportunity set promotes a high level of vintage diversification, which is expected to contribute to smooth risk-adjusted returns over the medium-term.”
In describing the Fund, Zenith explains it “offers daily liquidity and a low minimum investment, which Zenith believes is advantageous when compared to traditional Private Equity investing, managed under more illiquid fixed-term structures and requiring larger initial investments.”
PAN-Tribal Asset Management CEO Colin Woods says this rating highlights the importance of an experienced investment team and a consistent, quality investment approach.”
The Barwon Global Listed Private Equity Fund AF is available on a growing number of platforms, including AMP North, Asgard, BT Panorama, Colonial FirstWrap, HUB24, Macquarie Wrap, Netwealth, Powerwrap and Praemium.
