Mr Noone will be responsible for sales in Queensland across PM Capital’s suite of funds. He brings more than 20 years’ experience in client relationship management across investments, advice and platforms.

James was previously Head of Sales and Marketing at Financial Advice Matters (FAM) and also sat on its Investment Committee. This followed roles at Colonial, Aviva and TAL.

Ben Skilbeck, PM Capital’s Chief Executive Officer, said: “James brings real depth of experience and understanding, and is well known in the Queensland market. His appointment highlights the importance PM Capital places on assisting Queensland-based financial advisors and investors.

“The appointment follows Rebecca Morgan joining PM Capital as our Melbourne-based Sales Director in February. These appointments indicate our confidence in the role we can play in improving investor outcomes through our patient and insightful investment approach.”

Mr Noone said: “My appointment shows the commitment PM Capital has towards the Queensland market. PM Capital’s investment process is tried and tested over the last eighteen years, building long term wealth alongside its co-investors.”

PM Capital has a Global Equities strategy ranked #1 for performance by Morningstar in its peer group over 1, 3, 5, 7 and 8 years*. The Asian Companies Fund’s performance was ranked first in its peer group since the date of its inception. The Australian Companies Fund was ranked number one and the Enhanced Yield Fund number two in their sectors over one year.

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*Source: Morningstar Direct. As at 30/6/17, PM Capital’s Global Companies Fund ranked #1 in its Morningstar Australian Open-Ended Equity World Large Blend peer group of 214 over 1 year.

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Ben Skilbeck

PM CAPITAL has announced that the PM CAPITAL Asian Companies Fund has received its inaugural ‘Recommended’ rating from the leading independent research house, Zenith Investment Partners.

PM CAPITAL’s CEO Ben Skilbeck said that the team at PM CAPITAL were delighted with Zenith’s recognition of the Asian Companies Fund.

“The fund’s portfolio manager Kevin Bertoli and the broader investment team have delivered outstanding returns since this fund’s inception in 2008 through a highly selective approach to investing in Asian businesses.

“Although the broader market tends to perceive Asia as a “region”, Bertoli and the team view Asia as a collective of disparate economic jurisdictions, which has enabled them to exploit numerous investment opportunities over the last seven years.

Skilbeck highlighted that the ‘Recommended’ rating was an important step in the life of the Fund along with the availability on leading platforms Macquarie Wrap and Colonial First Wrap.

“The Asian Companies Fund meets a large gap in the market for those investors looking for a selective approach to investing in Asia, as an alternative or compliment to a passive or index approach. “

He added “ The Fund’s annualised return since inception is more than double the relevant benchmark, after fees.”
“Since its inception the Fund’s annualised return is 18.5% pa, which is 2.37 times the benchmark, namely the MSCI AC Asia (ex-Japan) Index, of 7.8% .”

The Fund has a concentrated portfolio of between 15 to 35 stocks at any one time with individual positions not exceeding 10% of the portfolio’s net asset value.

Current stock holdings include: 51job Inc, the leading HR/ employment business in China (NASDAQ listed); Donaco Ltd, an ASX listed gaming business with casino’s in Vietnam and Cambodia; Zhaopin Ltd another online employment platform servicing the Chinese market, listed on the NYSE; Baidu Inc. the Chinese search engine (NASDAQ listed), and HSBC Holdings.

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Prior to their expiry, each option gave the holder the right to acquire a fully paid ordinary share in the Company at $1.00. These options traded on the ASX under the ticker PGFO.

Ben Skilbeck, chief executive officer of PM CAPITAL and Director of PM CAPITAL Global Opportunities Fund said that PM CAPITAL was also very pleased with the support that PGF received from its investors as demonstrated by 92.3% of the PGFO options being exercised in the normal course.

“The underwriting of the remaining options, being only 7.7% (or 13,312,478) of the options issued, was also very well supported.”

“In total, the Company achieved 100% of the proceeds expected by the exercise of all options issued as part of its IPO (being $173,672,200).”

“The high option exercise rate can be attributable largely to our shareholders’ recognition of the strong Net Tangible Asset (“NTA”) growth since the IPO of the Company in December 2013. The availability of new capital associated with the exercise of options has come at an opportune time, with the current global market volatility presenting a number of opportunities particularly in Europe.”

“PM CAPITAL is the Investment Manager of PGF and remains focused on allocating capital to investment anomalies where it believes transitory issues are incorrectly viewed as long-term issues by the broader market.”

“This approach has formed the fabric of our investment approach over the last 17 years and remains its focus as we look to build on the strong performance of the PGF’s NTA growth,” said Skilbeck.

“The expansion in the Company’s capital and shareholder base as a result of the option exercise acts to: lower PGF’s fixed costs per share; assist in improving liquidity of the Company’s shares; provide the investment manager further capital for new long term investment opportunities; and increase the relevance of the Company in the market and raise its profile to assist in closing the share price discount to NTA.”

“The Directors of PM Capital Global Opportunities Fund Limited wish to thank the security holders of PGF for their ongoing support,” he added.

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