Fairlight fund recommended by Zenith
Fairlight Asset Management’s Global Small and Mid Cap fund has achieved a ‘Recommended’ rating from Zenith, with the investment researcher praising the firm’s business stability and fund positioning.
Zenith’s Recommended rating was for products deemed to be strong investments within their respective asset class.
The fund had a long-only concentrated strategy investing in 30-40 businesses in markets outside of Australia and was a signatory to the UN Principles for Responsible Investment.
Nicholas Cregan, Fairlight portfolio manager and co-founder, said it was a rigorous and welcomed endorsement of their strategy.
“We believe the small and mid cap sector, as compared to its large and mega cap counterparts, represents a significantly under researched segment of the market,” Cregan said.
“There is a wealth of evidence to support the claim that globally, smaller companies outperform their larger counterparts over the long-term.”
Over one year to 31 August, the fund has returned 20.6% according to FE Analytics, versus returns of 7.9% by the ACS Equity- Global Small and Mid Cap sector.
Quan Nguyen, head of equities at Zenith, said Cregan and deputy manager Ian Carmichael were capable investors with complementary skillsets.
“We believe the investment team is sufficiently resourced to provide high levels of analytical research,” Nguyen said.
“From a business stability perspective, Fairlight's partnership with the founders of Perennial, which was struck in May 2019, provides Zenith with a high degree of comfort. Overall, Zenith believes the fund is well positioned to deliver upon its investment objectives.”
Performance of Fairlight Global Small and Mid Cap fund over one year to 31 August versus ACS Equity - Global Small/Mid Cap sector.
AUTHOR
Chris Dastoor
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
