Justin O’Brien, Brunswick Fund Portfolio Manager recently joined David Bruty, in the latest edition of Escala Partners Perspectives podcast.
The conversation covers insights into the Fund’s 20-year history and its disciplined investment strategy—delivering steady returns, lower volatility, and flexibility across market cycles.
This 30-minute episode, recorded from the U.S. during Justin’s recent research trip, includes key topics such as:
How we have navigated Market Cycles over the 24-year journey
- Founded in 2001 during the tech bubble, Cooper Investors has successfully managed the business through the GFC, COVID-19, and shifting economic conditions, maintaining a systematic, long-term approach.
- The Brunswick’s 21 year track record has always been defined by a ‘tortoise over the hare’ mindset of steady growth, underpinned by our observational investment process.
Small Focused Teams
- How Justin O’Brien, Stuart McLachlan (Deputy PM), and analyst Gordon Lee are supported by CI Founder and CIO Peter Cooper.
- Alongside the broader CI specialist investment team, their focus remains on identifying value, managing risk, and applying a systematic investment approach.
Understanding the benefits of a flexible Investment Strategy
- Investing across small, mid, and large ASX-listed companies, with up to 25% international exposure, the Fund has leveraged global comparisons (“comp-cos”) to identify opportunities—such as Intuit (accounting software) and Louisiana-Pacific (building materials).
Three Capital Pools: the Fund balances risk and return through:
- Compounders – Growth businesses like Xero.
- Reversionary Stocks – Turnarounds, such as Regis Healthcare, which benefited from improved government funding.
- Real Assets & Income – Asset-backed investments, including Washington Soul Pattinson and Aspen Group (affordable housing).
Research-Driven Investing
- The VOF framework (Value Latency, Operating & Strategic Trends, and Focused Management Behaviour) guides investment decisions.
- Comp-Co’s explained – the Funds ability to identifying Ferguson’s undervaluation vs. Reece before its U.S. re-rating and capitalizing on spinoffs like ESAB and Graincorp.
If you have any questions about the Brunswick Fund, please reach out to our Client Relations team.
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