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H&G High Conviction Fund is an equity fund with a focus on Microcap ASX-listed companies. The Fund is a wholesale product and is only available to wholesale investors as defined in section 761G of the Corporations Act 2001.

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*Includes the original vehicle, The Supervised Fund, launched in November 2007 by Supervised Investments Australia Limited (SIAL). SIAL was sold in March 2021 to HGL Limited (trading as Hancock & Gore), and The Supervised Fund subsequently rebranded as H&G High Conviction Fund.

The strategy of investing in micro capitalisation listed equities has remained consistent.

Return Data

Performance to 30 April 2022 (after all fees)

One

month

Financial

YTD

Last 12 months

7 years p.a.

Since inception

(1 Nov 2007)

H&G High Conviction Fund

0.8%

10.3%

11.7%

9.7%

8.5% p.a.

ASX Small Ordinaries

-1.5%

1.2%

4.6%

9.3%

2.3% p.a.

Fund Documents
Our Strategy

The Fund invests its capital in companies with a significant discount in the share price relative to perceived inherent value. These companies have superior fundamental prospects, yet negative external events have attracted a flight of investors. The Fund seeks to assist investee companies to demonstrate, grow and realise their inherent value.​

Our Approach
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Bottom-up

Valuation

Macro

Drivers

Unique

Insights

Active

Management

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Look for companies run by passionate co-owners

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Identify large gap between market and inherent value

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Research the prevailing industry conditions

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Meet management, suppliers,customers and competitors

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Determine catalysts that could unlock inherent value

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Actively engage in implementation of strategic change

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Long-term focus beyond recent financial results

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Remain engaged with management and possibly board

Alignment with unitholders and investee firms

ESG awareness in investment selection

Performance-based remuneration and personal investment in Fund

Longer-term outlook and investment approach

Market out-performance through patient, active investing

Strong Due Diligence and Risk Management

Supporting emerging dynamic businesses

Our Purpose

15% target annual return and solid track record

Our Edge

WE ARE ACTIVE INVESTORS

  • We work with management to develop and implement strategic change to improve business performance and unlock value for our Unit holders

  • We engage with all company stakeholders to achieve strategic alignment

  • We will occupy board positions where required to drive our strategy

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WE FISH IN UNCROWDED          WATERS

  • We focus on microcaps flying under the radar of larger institutions​

  • We intend to keep Net Asset Value of the Fund below $50m for the foreseeable future​

  • For many of our investments we will be one of few institutional investors​

  • We believe that small, concentrated funds can generate larger long-term returns​

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WE MEET CHALLENGES THAT OTHERS AVOID

  • The Microcap companies we invest in have superior assets that are adversely impacted by non-operational externalities such as fractious shareholders, domineering directors or industry pressures​

  • Such externalities tend to cause uncertainty and under-valuation by the market, offering us an opportunity that many others don’t see

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Unit Prices
Date
NAV Price
Distribution
2022/04/30
10.0172
-
2022/03/31
9.8063
-
2022/02/28
9.8063
-
2022/01/31
9.7977
-
2021/12/31
9.8701
-
2021/11/30
10.0298
-
2021/10/31
10.0483
-
2021/09/30
9.7373
-
2021/08/31
9.4669
-
2021/07/31
9.3409
-
2021/06/30
9.0788
0.0556
2021/05/31
9.3144
-
2021/04/30
9.0144
-
2021/03/31
8.5453
2.0416
2021/02/28
11.1108
-
2021/01/31
10.5676
-
2020/12/31
10.4708
-
2020/11/30
10.3472
-
2020/10/31
9.8468
-
2020/09/30
9.2715
-
2020/08/31
9.5355
-
2020/07/31
9.1317
-
2020/06/30
8.167
-
2020/05/31
8.7926
-
2020/04/30
8.9467
-
2020/03/31
8.473
-
2020/02/29
10.1599
-
2020/01/31
12.8152
-
2019/12/31
12.9747
-
2019/11/30
12.7568
-
2019/10/31
12.8812
-
2019/09/30
13.3721
-
2019/08/31
12.6189
-
2019/07/31
12.8821
-
2019/06/30
12.7031
1.512725721
2019/05/31
13.1823
-
2019/04/30
13.7113
-
2019/03/31
13.3742
-
2019/02/28
13.1887
-
2019/01/31
13.3654
-
2018/12/31
12.9875
-
2018/11/30
13.0657
-
2018/10/31
12.8803
-
2018/09/30
13.7834
-
2018/08/31
13.7426
-
2018/07/31
13.222
-
2018/06/30
13.1647
0.56707238
2018/05/31
14.131
-
2018/04/30
14.168
-
2018/03/31
14.2594
-
2018/02/28
14.3457
-
2018/01/31
14.3382
-
2017/12/31
14.1557
-
2017/11/30
13.8958
-
2017/10/31
13.7529
-
2017/09/30
13.3963
-
2017/08/31
13.6377
-
2017/07/31
13.3122
-
2017/06/30
13.0253
-
2017/05/31
12.8871
-
2017/04/30
12.94
-
2017/03/31
13.96
-
2017/02/28
14.007
-
2017/01/31
13.1791
-
2016/12/31
12.6787
-
2016/11/30
12.7413
-
2016/10/30
12.4083
-
2016/09/30
11.8436
-
2016/08/31
11.808
-
2016/07/31
11.8157
-
2016/06/30
10.6202
-
2016/05/31
10.4749
-
2016/04/30
10.2564
-
2016/03/31
9.8074
-
2016/02/29
9.4848
-
2016/01/31
9.3554
-
2015/12/31
9.3717
-
2015/11/30
9.3353
-
2015/10/31
9.0823
-
2015/09/30
8.6077
-
2015/08/31
8.3634
-
2015/07/31
8.1154
-
2015/06/30
9.2344
1.1895
2015/05/31
9.0727
-
2015/04/30
8.7598
-
2015/03/31
8.7
-
2015/02/28
8.9978
-
2015/01/31
8.6085
-
2014/12/31
8.7167
-
2014/11/30
8.875
-
2014/10/31
8.9327
-
2014/09/30
8.8675
-
2014/08/31
8.7703
-
2014/07/31
8.6791
-
2014/06/30
10.2324
1.75704
2014/05/31
10.3145
-
2014/04/30
10.1611
-
2014/03/31
10.3679
-
2014/02/28
10.1641
-
2014/01/31
10.2364
-
2013/12/31
9.9772
-
2013/11/30
10.0004
-
2013/10/31
9.8782
-
2013/09/30
9.8199
-
2013/08/31
9.7389
-
2013/07/31
9.5084
-
2013/06/30
9.5899
0.341307
2013/05/31
9.992
-
2013/04/30
9.7123
-
2013/03/31
9.8017
-
2013/02/28
9.7941
-
2013/01/31
9.7694
-
2012/12/31
9.4511
-
2012/11/30
9.2927
-
2012/10/31
9.1224
-
2012/09/30
8.9393
-
2012/08/31
8.5606
-
2012/07/31
8.3403
-
2012/06/30
9.5451
1.22795
2012/05/31
9.7983
-
2012/04/30
10.2739
-
2012/03/31
10.0942
-
2012/02/29
10.2401
-
2012/01/31
9.7231
-
2011/12/31
9.6176
-
2011/11/30
9.7374
-
2011/10/31
9.599
-
2011/09/30
9.2397
-
2011/08/31
10.1652
-
2011/07/31
10.2611
-
2011/06/30
11.6143
1.3532
2011/05/31
11.8675
-
2011/04/30
12.0494
-
2011/03/31
12.0454
-
2011/02/28
11.9176
-
2011/01/31
11.7022
-
2010/12/31
11.787
-
2010/11/30
11.4151
-
2010/10/31
11.152
-
2010/09/30
11.0484
-
2010/08/31
10.677
-
2010/07/31
10.6551
-
2010/06/30
10.613
-
2010/05/31
10.5802
-
2010/04/30
10.5432
-
2010/03/31
10.7081
-
2010/02/28
10.6991
-
2010/01/31
10.855
-
2009/12/31
11.2315
-
2009/11/30
11.1297
-
2009/10/31
10.786
-
2009/09/30
10.3523
-
2009/08/31
10.0812
-
2009/07/31
9.5921
-
2009/06/30
9.221
-
2009/05/31
9.3324
-
2009/04/30
8.8721
-
2009/03/31
8.7927
-
2009/02/28
8.9579
-
2009/01/31
8.9026
-
2008/12/31
8.7548
-
2008/11/30
8.6641
-
2008/10/31
8.6709
-
2008/09/30
8.9674
-
2008/08/31
9.0739
-
2008/07/31
9.0962
-
2008/06/30
9.3835
-
2008/05/31
9.6739
-
2008/04/30
9.4421
-
2008/03/31
9.4021
-
2008/02/29
9.5644
-
2008/01/31
9.4211
-
2007/12/31
9.9624
-
2007/11/30
10
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H&G High Conviction Fund

INVESTMENT MANAGEMENT

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