Lonsec rates Prime Value Opportunities Fund
Research and ratings house Lonsec has assigned an ‘Investment Grade' rating to the high conviction Prime Value Opportunities Fund.
The rating was announced by Prime Value Asset Management this week, which said it coincided with the fund's outperformance after its first year.
It said the fund had started investing seed money a year ago as part of a long only, absolute return strategy which can allocate up to 20 per cent to international stocks.
The fund returned 33.8 per cent in its first year of performance to 31 October 2013, comfortably outperforming both its absolute return benchmark and the S&P ASX 300 Accumulation index.
Prime Value Asset Management national distribution manager, Jake Ireland, claimed the Opportunities Fund was now starting to attract allocations from investment-savvy high net worth private investors and independent boutique planners.
"There is growing awareness that prudently managed concentrated portfolios can boost the overall outperformance of equities holdings," he said.
Prime Value expects to cap the Opportunities Fund at $250 million to preserve performance.
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