The Fund invests in listed securities with a minimum exposure of 75% to Australian and NZ securities (including cash) and a maximum exposure of 25% to other international markets. The portfolio will typically consist of 20-40 stocks. The fund can hold up to 25% of the portfolio in cash.
Our strategy is to identify stocks with VoF attributes (value latency, operational performance, industry/strategic positioning & focused management). The portfolio can be divided into 3 pools, that include 2 Subsets of Value:
Compounding
Niche growth companies – growing companies with identifiable value propositions using traditional value metrics run by focused, prudent and experienced management.
Stalwarts – sturdy, strong and generally larger companies with world class privileged market and competitive positions.
Reversionary
Cyclicals – stocks showing upside leverage to the cycle with experienced and contrarian managers who can allocate capital prudently and with good balance sheets. In other words growth cyclicals who can go to higher highs over multiple cycles.
Low Risk Turnarounds – sound businesses with good management in place and good balance sheets essential.
Real Assets & Income
Asset plays – stocks with strong or improving balance sheets trading at discounts to net asset value or replacement value.
Bond like equities – stocks with secure low-volatile dividends that can be grown and recapture inflationary effects over time.
Our aim is for the Fund’s long term returns to exceed the Benchmark. However, the Fund will be constructed with limited reference to the Benchmark and therefore the returns of the Fund may significantly vary from the Benchmark returns. The Fund has a long term investment horizon.
Justin O'Brien
Stuart McLachlan
Unit price history (CSV)
1/07/2004
Units in a unit trust – the CI Brunswick Fund (the “Fund”)
$500,000 (Wholesale investors only)
Cooper Investors Pty Limited (“CI” or the “Manager”)
Citigroup Pty Limited
S&P/ASX 200 Accumulation Index
CIP0002AU
Income distributions will normally be paid half-yearly as at 31 December and 30 June (although the Manager has the discretion to distribute more frequently) and will automatically be invested in further units unless a unit holder elects otherwise.
Performance & Reporting
Redemptions
$50,000 minimum tranches (provided that the unit holder maintains a minimum investment of $500,000) may be redeemed on each Thursday and the last day of each month, with 1 business day’s notice.
Management Fee
1.0% per annum of the Net Asset Value (before fees and expenses) plus GST calculated and paid monthly in arrears directly from the Fund.
Performance Fee
10% of the Fund’s out-performance of the S&P/ASX 200 Accumulation Index plus GST. A high water mark applies.
Resources
Brunswick Fund Insights: The Soul Patts Story
Cooper Investors Brunswick Fund Review – July 2024
AFR: Let business play a role fixing Australia’s affordable housing crisis
Endeavour Fund and Brunswick Fund at CI secure Guzman y Gomez shares in limited placement
Cooper Investors Brunswick Fund Review – August 2023
Cooper Investors Brunswick Fund Review – June 2022
The Steps
How to invest.
The fund is currently open to applications for a limited time. To register your interest in investing please contact Client Relations or phone +61 3 9660 2600.
