Opis Capital launches OZ equity trusts

A small, boutique Melbourne-based fund manger has launched two Australian equity trusts using direct distribution.

Opis Capital has launched a premium equity fund, which is designed to achieve growth through long-term investing.

The Opis Dynamic Equity fund has similar aims, with long-term investments boosted by short-term investments.

Opis managing director John Daly says distribution of the funds will be by recommendation, the method that has attracted about 60 clients to the firm.

“We have no intention of paying trails to advisers. I don’t think financial planners distributing products is what we are all about,” he says.

The company has a minimum investment per fund of $50,000, with additional investments of five per cent.

The fees for investing in the new funds are also pitched at the high-end. The management fee is 1.5 per cent, but on top of that there is a performance fee, which is triggered when the fund achieves returns in excess of 15 per cent. There is a 20 per cent fee on returns above that benchmark.

Opis director Dean Fergie says the investment style of the manager is bottom-up and the focus is on value, both in small caps and blue chips.

Last year, Opis had on average 40 per cent of the two funds invested in cash.

Since December 2000, the premium fund has achieved investment returns of 50.5 per cent and the dynamic fund 51.3 per cent.