Antipodes Global Investment Company (ASX:APL)

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About the Company

Antipodes Global Investment Company Limited (‘the Company’) offers investors access to a long-short global securities investment portfolio with a currency overlay. The Company’s portfolio will be constructed in accordance with the investment approach of Antipodes Partners Limited (‘the Manager’), which aspires to grow wealth over the long-term by generating positive returns in excess of the benchmark at below market levels of risk. The Manager seeks to purchase securities in what it considers to be great businesses that are not valued as such, and build a high conviction portfolio with a capital preservation focus. The Company listed on the Australian Stock Exchange (ASX) on 18 October 2016:

  • Fully Paid Ordinary Shares (ASX Code : APL / ISIN AU000000APL8)
  • APL Options, $1.10, Expiry date 15 October 2018 (ASX Code : APLO / ISIN AU00000APLO4)

Investment objective

The Company’s investment objectives are to:

  • provide capital growth and income through investing in a concentrated portfolio, predominantly comprised of long and short positions in international listed securities, that will be actively managed with a focus on capital preservation; and
  • achieve returns in excess of the benchmark, MSCI All Country World Net Index in AUD, with reduced levels of risk,

in each case, over a full investment cycle (which the Manager and the Company consider to be a period of typically 3 to 5 years).

Monthly NTA and investment update

The Company’s monthly Investment Update & Net Tangible Assets Report will available by the 14th of each month.

Financial results

Research reports

Receive the latest Zenith and Lonsec research reports for the Company. Available to Financial Advisers only.

Board of Directors

Jonathan Trollip – Chairman

Jonathan Trollip is an experienced Director with over 30 years of commercial, corporate, governance, legal and transaction experience. Jonathan is currently non-executive chairman of ASX listed Global Value Fund Limited, Future Generation Investment Company Limited and Plato Income Maximiser Limited, and a non-executive director of ASX listed Kore Potash Limited. He holds commercial private company directorships with Meridian International Capital Limited and BCAL Diagnostics Pty Ltd.

In the philanthropy area he is chairman of Science of Wildlife Limited, and a director of the The Watarrka Foundation and the University of Cape Town Australia Alumni Trust. Jonathan has worked as a principal of Meridian for the past 22 years. Prior to that, he was a Partner with law firm Herbert Smith Freehills. He holds postgraduate degrees in economics and law, was admitted as a qualified lawyer in England and Australia.

Chris Cuffe – Independent Director

Chris has more than 25 years of experience in building successful wealth management practices.

Most notably he joined Colonial First State in 1988 and became its CEO two years later, leading the company from a start-up operation to Australia’s largest investment manager.

In 2003 Chris became the CEO of Challenger Financial Services Group Limited and subsequently headed up Challenger’s Wealth Management business. Chris is now involved in a portfolio of activities including a number of directorships, managing public and private investments and in various roles assisting the non-profit sector.

Chris is currently a non-executive director of ASX listed Global Value Fund Limited. He is Chairman of UniSuper (the $50 billion superannuation scheme servicing the staff of universities and related institutions across Australia), Chairman of Fitzpatrick Private Wealth (a national advisory and wealth management firm) and a founder/producer of online weekly financial newsletter Cuffelinks.

Chris holds a Bachelor of Commerce from the University of NSW and a Diploma from the Securities Institute of Australia. He is a Fellow of the Institute of Chartered Accountants in Australia, a Fellow of the Institute of Company Directors and an Associate of the Financial Services Institute of Australasia.

In October 2007 Chris was inducted into the Australian Fund Manager’s RBS Hall of Fame for services to the investment industry.

Lorraine Berends  – Independent Director

Loraine has worked for 30 years in the pension and investment industries, and possesses extensive experience in both the investment management and superannuation fields. Lorraine serves on the BT Financial Group Superannuation Board, the Board of the MDC Foundation and is a member of the investment committee of Qsuper. She served on the Board of the Association of Superannuation Funds of Australia for 12 years and the Board of the Investment Management Consultants Association for 13 years, and has been awarded Life Membership of both associations. Lorraine is a Fellow of the Institute of Actuaries of Australia, a fellow of ASFA, a member of the Australian Institute of Directors and holds a BSc from Monash University Melbourne.

Alex Ihlenfeldt – Non-Independent Director

Alex Ihlenfeldt has over 25 years commercial experience in financial services in Australia and overseas and has proven expertise in the provision of the full suite of turn-key, institutional quality non-investment services for investment managers. He is experienced in operating across the full spectrum, from start- up boutiques to mature investment managers. Alex is currently Chief Operating Officer and Chief Financial Officer of Pinnacle Investment Management Limited with whom he has been associated since inception in 2006. Prior to joining Pinnacle in 2011, he spent 10 years with the Wilson HTM Investment Group as Chief Operating Officer, Chief Financial Officer and Head of Wealth Management. Alex has a Bachelor of Commerce (Hons) and is a member of the Institute of Chartered Accountants Australian and New Zealand as well as a Fellow of the Australian Institute of Company Directors. Alex is a Director of each of Pinnacle Investment Management Limited, Pinnacle Fund Services Limited, Plato Investment Management Limited, Solaris Investment Management Limited, Antipodes Partners Limited, an Alternate Director of Resolution Capital Limited and he is Chairman of the Pinnacle Fund Services Limited Compliance Committee.

Alex Ihlenfeldt has over 25 years commercial experience in financial services in Australia and overseas and has proven expertise in the provision of the full suite of turn-key, institutional quality non-investment services for investment managers. He is experienced in operating across the full spectrum, from start- up boutiques to mature investment managers. Alex is currently Chief Operating Officer and Chief Financial Officer of Pinnacle Investment Management Limited with whom he has been associated since inception in 2006. Prior to joining Pinnacle in 2011, he spent 10 years with the Wilson HTM Investment Group as Chief Operating Officer, Chief Financial Officer and Head of Wealth Management. Alex has a Bachelor of Commerce (Hons) and is a member of the Institute of Chartered Accountants Australian and New Zealand as well as a Fellow of the Australian Institute of Company Directors. Alex is a Director of each of Pinnacle Investment Management Limited, Pinnacle Fund Services Limited, Plato Investment Management Limited, Solaris Investment Management Limited, Antipodes Partners Limited, an Alternate Director of Resolution Capital Limited and he is Chairman of the Pinnacle Fund Services Limited Compliance Committee.

Andrew Findlay – Non-Independent Director

Andrew has over 20 years financial services experience in Australia and overseas, with a focus on product development, marketing and distribution. Andrew is currently a senior executive at Pinnacle Investment Management which he joined in 2009.  His primary responsibility is to assist the principals of each investment firm to establish, manage and grow their business. In addition to his business development and client responsibilities, Andrew is a Director of Antipodes Partners Limited and Pinnacle Fund Services Limited, which acts as

Andrew has over 20 years financial services experience in Australia and overseas, with a focus on product development, marketing and distribution. Andrew is currently a senior executive at Pinnacle Investment Management which he joined in 2009.  His primary responsibility is to assist the principals of each investment firm to establish, manage and grow their business. In addition to his business development and client responsibilities, Andrew is a Director of Antipodes Partners Limited and Pinnacle Fund Services Limited, which acts as responsible entity or trustee for various pooled funds managed by Pinnacle’s affiliates. Before joining Pinnacle, Andrew worked at Macquarie Bank for over 5 years and was based in both Sydney and Hong Kong. Whilst at Macquarie, Andrew led the establishment of the ‘Macquarie Professional Series’, a suite of partnerships with world-class, specialist investment managers. Prior to Macquarie Andrew worked in a variety of financial marketing roles with Deutsche Bank in Australia, and with UBS in Zurich and London. Andrew has a Bachelor of Commerce from the University of New South Wales.

Investment Manager

Antipodes Partners Limited (ABN 29 602 042 035) has been appointed as the Manager for the implementation of the Company’s investment strategy. Antipodes Partners Limited is a boutique fund manager specialising in global equities.

Investment team

The Manager’s investment team (Antipodes Investment Team) comprises experienced investment professionals all with deep expertise across different markets. With over 100 years of collective global investment experience, the members of the investment team have each seen multiple market cycles. The Company will draw upon and benefit from this depth and breadth of experience in the construction and maintenance of the Company’s portfolio. The Antipodes Investment team biographies can be found here

Corporate governance

Prospectus

Corporate governance statement

Corporate governance charter covering:

  • Board Policy
  • Continuous Disclosure Policy
  • Code of Conduct
  • Share Trading Policy
  • Insider Trading Policy

Dividend re-investment plan

Dividend policy

The Company’s investment objective is to maximise total shareholder return via a combination of capital growth and income, with the aim of allowing fully franked dividends to be paid to shareholders when possible.  Whether dividends are declared is at the full discretion of the Board.  The Board will only exercise its discretion if the Company has sufficient profit reserves and franking credits available and it is within prudent business practice to do so. The Company intends to pay a dividend to shareholders at least annually, subject to available profits, cash flow and franking credits. The Company has established a dividend reinvestment plan for shareholders.

Document archive

Annual reports

The Annual Report will published here

Other documents

FMA – Election Notice

LIC shareholder enquiries

Antipodes Global Listed Investment Company Limited

 

Telephone:     1300 737 760

Facsimile:     (02) 9279 0664

Email:            enquiries@boardroomlimited.com.au

Share registrar: Boardroom Pty Ltd, Grosvenor Place. Level 12, 225 George Street, Sydney, NSW, 2000

www.boardroomlimited.com.au

Stock exchange: Australian Securities Exchange (ASX)

www.asx.com.au

ASX short code :

  • Fully Paid Ordinary Shares – APL
  • APL Options, $1.10, expiry 15 October 2018 – APLO