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Capital Management launches fund

Walker Capital Management

7 February 2005

Walker Capital Management launches fund for retail investors

Boutique investment manager Walker Capital Management has launched its Research Selection Fund, a total return focused, trans-Tasman equity fund for retail investors. Its objective is to generate gross returns that average more than 15% p.a. (before taxes, fees and expenses) over rolling five-year periods.

Walker Capital Management Managing Director Stephen Walker said launching its first retail product was an exciting development for the company. “Until now we have only offered our services to investors with over $1 million to invest. We are delighted to now have a fund in which retail investors can also invest with us.” The fund has a total return focus and won’t hold stocks just because they’re in an index.

Mr Walker says that globally, investors are increasingly moving towards absolute and total return funds. “In this fund we simply cherry pick from the best money-making opportunities we identify in the New Zealand and Australian sharemarkets.”

When there are fewer opportunities worth investing in, the fund can hold up to 20% in cash, minimising the risk of permanent capital losses. Mr Walker added that “capital preservation is an important aspect of the fund”. “Our investment process is thorough and includes both qualitative factors, to assess how attractive a company is, and quantitative factors, to ensure that great companies are also great investments for us”, said Mr Walker.

While the fund is a new offering, Walker Capital Management has been managing wholesale funds using its Research Selection investment style for over two years and has produced outstanding results.

“For the two years ended 31 December 2004, our Australasian Research Selection style ranked first in the New Zealand Shares section of the Mercer Investment Consulting wholesale funds survey, with a gross return of 36.7% p.a.,” In line with most total return funds globally, the fund has a performance fee in addition to its 1.0% annual management fee. Walker Capital Management earns 10% of all returns in excess of the fund’s performance benchmark, the NZSX 50 Portfolio Index.

About Walker Capital Management Limited.

Walker Capital Management is a boutique investment management company specializing in the management of Australasian equity funds. Prior to launching the Walker Capital Management Research Selection Fund its services have been available only to large investors via separately managed accounts. It was founded by Stephen Walker in 2001 and is 100% owned by its principals and their family interests. Clients include high net worth individuals, charities, master trusts, insurance funds and superannuation schemes. Funds under management currently total over $200m.


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