Paul Xiradis

Ausbil Investment Management (Ausbil) is honoured to announce that Paul Xiradis, co-founder of Ausbil and our Executive Chairman, Chief Investment Officer, Head of Equities and Portfolio Manager for the flagship Ausbil Australian Active Equity Fund has been inducted into the prestigious Australian Fund Manager Foundation Hall of Fame.

“After managing money for over 45 years and 27 years at Ausbil, I am truly grateful to accept this award,” said Xiradis. “I extend my thanks to the Australian Fund Manager Foundation and dedicate this recognition to our clients, many of whom have been with us since the beginning and for whom our work is truly intended.”

The Hall of Fame inductees list includes some of Australia’s most respected investors, including Olev Rahn, Kerr Neilson, Anton Tagliaferro, Peter Morgan, Chris Cuffe, Chris Kourtis, Geoff Wilson, Catherine Allfrey, John Sevior, Phil King and more. The Hall of Fame induction ceremony is centred around the charitable philanthropy program of the Australian Fund Manager Foundation. Over the past 25 years, the awards night has raised millions for its charity partners, including Odyssey House NSW and the Sydney Children’s Hospital Foundation, amongst other charities.

“We have certainly seen a lot on this investment journey, and it is one I enjoy taking every day I come to the office. I co-founded Ausbil with a relatively simple investment philosophy, that earnings and earnings revisions are the key drivers of share prices,” said Xiradis. “Investment management is truly a team effort. Over the years I’ve had the privilege of working with incredible talent who have helped shape Ausbil’s success and continue to apply our approach across Australian and global equities.”

Ausbil’s Australian Active Equity strategy is over 27-years old and has generated a gross long-term performance since inception of +11.3% per annum (before fees), outperforming the benchmark (S&P/ ASX 300 Accumulation Index) by +2.8% pa since inception on 1 August 1997 on a gross of fees basis (as at 30 September 2024). Ausbil’s investment approach has delivered one of the longest track records in the market, as is evidenced by the following chart of net returns.

The Ausbil Australian Active Equity Fund (ARSN 089 996 127) (Fund) return is from its inception on 1 August 1997 to 30 June 2024 and is net of fees and costs, before tax and assumes reinvestment of distributions. Returns are based at 100 on 31 July 1997. The strategy Benchmark is the S&P/ASX 300 Accumulation Index. US Equities in AUD refers to the S&P 500 in AUD terms. Global Equities in AUD refers to the MSCI World Index (AUD). A-REITs refers to the S&P/ASX 200 A-REIT index.

Australian Fixed Income refers to the Bloomberg AusBond Composite 0+ Yr Index. Cash refers to Bloomberg AusBond Bank Bill Index. Gold in AUD refers to the Australian dollar equivalent gold price as quoted on Bloomberg. Australian Inflation refers to the headline quarterly CPI rate as reported by the Australian Bureau of Statistics. Investments in cash, gold and fixed income are generally considered to have lower risks when compared with investments in Australian and global equities.

“Paul is a real professional and has built a great business,” remarked Mark Knight, Ausbil’s Chief Executive Officer, who has worked with Xiradis for over two decades. “He eats, sleeps and drinks financial markets and he understands that he needs good people around him. This is a team sport.”

Since it began in August 1997, the Ausbil Australian Active Equity Fund has negotiated a ‘crazy’ set of tail events including the US Tech Bubble, the Global Financial Crisis, the European Debt Crisis, Brexit and its aftermath, the Fed Pivot, the once in a century COVID pandemic and recession, the invasion of Ukraine by Russia and the ensuing energy crisis, the rapid normalisation of interest rates across 2022 and 2023, and the high inflation crisis of 2023/2024.

“Paul tends to get the big shifts right. For example, staying out of the overvalued REIT sector leading into the GFC in 2008 or not becoming too defensive when the pandemic hit in 2020,” said Knight. “This has helped produce excellent long-term returns and has been terrific for our investors.”

“As a firm, we are proud of Paul’s success and wish to congratulate him on joining the elite ranks of the Australian Fund Manager Foundation Hall of Fame.”

Ausbil Investment Management was established in 1997 and manages over $20bn in funds under management as at 17 October 2024.

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Magellan Asset Management took out top honours as Fund Manager of the Year. They were also awarded the Infrastructure and International Equities – Global sector awards. The Zenith judges praised Magellan’s investment team, quality of business, focus on retail investor outcomes, and integrated risk management framework, which equipped the manager to deliver outstanding risk-adjusted investment returns over a long period to underlying investors.

The Distributor of the Year was awarded to Pinnacle Investment Management for the fourth year running. Zenith was impressed by Pinnacle’s suite of high-quality investment boutiques across a range of asset classes, varying investor platforms and structures. Additionally, judges rated their high standards in reporting, access to investment professionals, effective education and communication of manager strategies, making them a deserving winner.

This year, in addition to the usual sector awards, Zenith introduced two new awards – Sustainable and Responsible Investments and Rising Star – in recognition of changes in the industry.

Zenith also introduced the Industry Contribution Award – awarded to Kerr Neilson, Chief Investment Officer and Co-founder of Platinum Asset Management. Mr Neilson is often referred to as Australia’s Warren Buffett for his investment prowess and, has been actively involved in the funds management industry for more than 30 years.

The Zenith Fund Awards rely on Zenith’s insights and leadership in assessing the capabilities and future potential of fund managers. Each finalist is a leader in their field and has displayed investment excellence across both qualitative and quantitative criteria over the last 12 months.

David Wright, a Managing Partner at Zenith, congratulated all finalists and winners for their outstanding achievements and their contribution to the industry.

“With many active managers under increasing pressure in today’s market, they need to be best practice and continually improve their investment teams and processes in order to compete. We have been extremely impressed with the number of managers who are pushing the boundaries to deliver better outcomes to Australian investors.”

About the Zenith Fund Awards

The prestigious awards judging criteria is multi-faceted and is not solely focused on performance. Funds must pass a rigorous qualitative and quantitative screening, which examines each manager’s investment philosophy, the expertise of the investment team, the investment process, portfolio construction, risk management in addition to performance.
Full list of winners

Here are the winners for each category:

• Australian Real Estate Investment Trust: Zurich Investments / Renaissance Asset Management
• Global Real Estate Investment Trust: Resolution Capital Limited
• Real Assets: AMP Capital
• Infrastructure: Magellan Asset Management
• Global and Diversified Fixed Interest: PIMCO Australia
• Australian Fixed Interest: Ardea Investment Management
• Exchange Traded Products: iShares by BlackRock
• Listed Investment Company: Metrics Credit Partners
• Alternative Strategies: Partners Group
• Multi Asset – Diversified: BlackRock
• Multi Asset – Real Return: Perpetual Investment Management Limited
• International Equities – Emerging Markets and Regional: Fidelity International
• International Equities – Alternative Strategies: Montaka Global Investments
• International Equities – Global: Magellan Asset Management
• Sustainable and Responsible Investments: BNP Paribas Asset Management / Impax Asset Management
• Australian Equities – Alternative Strategies: Solaris Investment Management
• Australian Equities – Small Cap: Fidelity International
• Australian Equities – Large Cap: AllianceBernstein
• Rising Star: Jamieson Coote Bonds
• Distributor of the Year: Pinnacle Investment Management
• Fund Manager of the Year: Magellan Asset Management
• Industry Contribution Award: Kerr Neilson

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