The Plato Global Net Zero Hedge Fund (‘The Fund’) seeks to outperform the MSCI World Net Returns Unhedged index. The fund invests in global listed companies. Plato employs a disciplined, bottom-up investment process that has been developed by the Plato team since 2006. The Fund is one of the first in the world to have a net-zero carbon footprint.
Plato Global Net Zero Hedge Fund - Monthly Report (30 November 2022)
About the Fund
Monthly Commentary
The Plato Global Net Zero fund underperformed the MSCI World benchmark by 0.03% (after fees) in November. Equity markets continued the strong performance of October, with the MSCI World registering a return of 2.12% over the month. The annualised performance after fees of the fund is now 7.12% in excess of the MSCI World benchmark. High Quality, Value names with a low number of Red Flags performed particularly well. Low carbon emissions names reverted to being a headwind for the strategy. Key stock contributors include underweight/short positions in Sedana Medical with 7 Red Flags, down some 80% year to date, and Australian beauty products manufacturer/wholesaler BWX Ltd with 8 Red Flags, and down 87% year to date. Detractors include Exxon Mobil and Chevron which are both excluded from the portfolio due to their tar-sands exposure. Year to date, the fund’s shorts have been the primary driver of performance.
NET ANNUALISED PERFORMANCE
Fund returns are after applicable fees, costs and taxes. Past performance is not a reliable indicator of future performance. Benchmark is the MSCI World Net Returns Unhedged Index. Inception is 1st September 2021.
CARBON FOOTPRINT
Benchmark is the MSCI World Net Returns Unhedged Index. Inception is 1st September 2021.
NET PERFORMANCE AS AT 30 NOVEMBER 2022
1Plato Global Net Zero Hedge Fund. Fund returns are after applicable fees, costs and taxes. Past performance is not a reliable indicator of future performance. 2 Benchmark is the MSCI World Net Returns Unhedged Index. 3 Inception is 1st September 2021.
FUND FACTS:
| wdt_ID | CLASS LIST | APIR | ARSN | INCEPTION | INVESTMENT MINIMUM | MANAGEMENT FEE | PERFORMANCE FEE |
|---|---|---|---|---|---|---|---|
| 1 | CLASS A | WHT1465AU | 654 914 048 | 1 September 2021 | 15,000 | 0.85 | 15 |
Performance fee is 15% of the Fund’s outperformance (net of management fees), relative to its Benchmark Return, multiplied by the NAV of the Fund.
Management Fee is 0.99% p.a. of the NAV of the Fund.
PORTFOLIO STATISTICS
Source: Plato Investment Management
SECTOR EXPOSURES (%)
Source: Plato Investment Management
REGION GROSS EXPOSURE BREAKDOWN (%)
COUNTRY EXPOSURES (%)
Source: Plato Investment Management
TOP 5 EQUITY CONTRIBUTORS (%)
BOTTOM 5 EQUITY CONTRIBUTORS (%)
TOP 5 ACTIVE LONG EQUITY HOLDINGS (%)
TOP 5 SHORT EQUITY HOLDINGS (%)
Past performance is not a reliable indicator of future performance. Source: Plato Investment Management
About the Fund Managers
DR DAVID ALLEN
Head of Long Short Strategies
Formerly, Dr. Allen was Managing Director and Head of Research at JP Morgan Asset Management in London. In 2014, Dr. Allen won the EuroHedge UCITS Fund of the Year. He also managed the JPM Europe Equity Plus (€5bn) and JPM Europe Equity Absolute Alpha (€1bn.) funds.
He holds a PhD from Cambridge in Quantitative Finance.
CHARLES LOWE
Senior Quantitative Analyst
Formerly, Charles was at Macquarie for 12 years, most recently as a Division Director in their Quant Hedge Funds team. Prior to joining Macquarie, Charles worked as an analyst at Commonwealth Bank of Australia, and subsequently Freehills.
Charles holds a Bachelor of Commerce degree from the University of New South Wales, with an Actuarial Studies major.
ABOUT PLATO
Plato was founded in 2006 in Sydney, Australia. The firm currently has over AUD $10bn assets under management across a variety of strategies.
DISCLAIMER
This communication is prepared by Plato Investment Management Limited (‘Plato’) (ABN 77 120 730 136, AFSL 504616) as the investment manager of the Plato Global Net Zero Hedge Fund (ARSN 654 914 048) (‘the Fund’). Pinnacle Fund Services Limited (‘PFSL’) (ABN 29 082 494 362, AFSL 238371) is the product issuer of the Fund. PFSL is not licensed to provide financial product advice. PFSL is a wholly-owned subsidiary of the Pinnacle Investment Management Group Limited (‘Pinnacle’) (ABN 22 100 325 184). The Product Disclosure Statement (‘PDS’) and Target Market Determination (‘TMD’) of the Fund are available via the links below. Any potential investor should consider the PDS and TMD before deciding whether to acquire, or continue to hold units in, the Fund.
Link to the Product Disclosure Statement
Link to the Target Market Determination
For historic TMD’s please contact Pinnacle client service Phone 1300 010 311 or Email service@pinnacleinvestment.com
This communication is for general information only. It is not intended as a securities recommendation or statement of opinion intended to influence a person or persons in making a decision in relation to investment. It has been prepared without taking account of any person’s objectives, financial situation or needs. Any persons relying on this information should obtain professional advice before doing so. Past performance is for illustrative purposes only and is not indicative of future performance.
Whilst Plato, PFSL and Pinnacle believe the information contained in this communication is reliable, no warranty is given as to its accuracy, reliability or completeness and persons relying on this information do so at their own risk. Subject to any liability which cannot be excluded under the relevant laws, Plato, PFSL and Pinnacle disclaim all liability to any person relying on the information contained in this communication in respect of any loss or damage (including consequential loss or damage), however caused, which may be suffered or arise directly or indirectly in respect of such information. This disclaimer extends to any entity that may distribute this communication.
Any opinions and forecasts reflect the judgment and assumptions of Plato and its representatives on the basis of information available as at the date of publication and may later change without notice. Any projections contained in this presentation are estimates only and may not be realised in the future.
Unauthorised use, copying, distribution, replication, posting, transmitting, publication, display, or reproduction in whole or in part of the information contained in this communication is prohibited without obtaining prior written permission from Plato. Pinnacle and its associates may have interests in financial products and may receive fees from companies referred to during this communication.
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“Opinion is the medium between knowledge and ignorance”
Plato (427-347 BC)
“Opinion is the medium between knowledge and ignorance”
Plato (427-347 BC)
