Seeking to uncover the world’s most undervalued companies

 

What the Polaris Global Equity Fund offers

Broad diversified exposure

To some of the world’s most undervalued companies across a range of industries, countries and market capitalisations

Unique brand of value investing

A strong focus on cashflow; the key indicator of value

Long-term returns

Potential for attractive performance

Finding hidden gems

Polaris have a long history of searching the globe for undervalued companies, in unlikely places. Discover how the business started and the diverse team that make Polaris tick.

 
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Learn how the Polaris process and approach helps uncover investment opportunities that traditional investment firms may overlook.

 
Read more >

All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying assets. Generally, the higher the potential return of an investment, the greater the risk.

The risks of investing in this fund include:

  • Investment risk: The fund has exposure to share markets. The risk of an investment in the fund is higher than an investment in a typical bank account or fixed income investment. Amounts distributed to unitholders may fluctuate, as may the fund’s unit price. The unit price may vary by material amounts, even over short periods of time, including during the period between a redemption request being made and the time the redemption unit price is calculated.
  • Market risk: Share markets can be volatile, and have the potential to fall by large amounts over short periods of time. The investments of the fund are likely to have a broad correlation with share markets in general, and hence poor performance or losses in domestic and/or global share markets are likely to impact negatively on the overall performance of the fund.
  • International investment risk: The fund invests in a range of international securities and in companies that have exposure to a range of international economies. Global and country specific macroeconomic factors may impact the fund’s international investments. Governments may intervene in markets, industries and companies, may alter tax and legal regimes, and may act to prevent or limit the repatriation of foreign capital. Such interventions may impact the fund’s international investments.

For a full description of the risks of investing in the fund, investors should read the Product Disclosure Statement before deciding to invest.

Meet the manager

Meet the manager

08 Jul 2015

Polaris Capital Management has a single focus on global equities and applying their deep value investment philosophy. Sumanta Biswas provides some insights into Polaris’s highly skilled stock selection capability in value investing, proven over 20 years.

In the news

Polaris in the news

Simon Hoyle, Editor of Professional Planner discusses with Bernard Horn, Founder of Polaris Capital Management, what it means to be a global value investor in the article titled - Doing it in style – a global approach to finding value in equities

Detailed fund information

Polaris Capital Management, LLC (Polaris) is a privately owned company that has provided investment management services to clients since 1995. As of 31 March 2014, Polaris had approximately $5.1 billion of assets under management. Based in Boston, Polaris is registered as an investment adviser under the U.S. Investment Advisers Act of 1940.

The Polaris Global Equity Fund aims to achieve a long-term total return (before fees and expenses) that exceeds the MSCI World ex Australia Index, in $A unhedged with net dividends reinvested.

Polaris’s global value investment philosophy is based on two basic beliefs:

(i) country and industry factors are important determinants of security prices, and
(ii) global market fluctuations produce mispriced stocks.

Global markets have proven generally efficient over time, but investor behaviour creates volatility that can lead to inefficiencies. During these periods, the stock price may not reflect a company’s long-term fundamental valuation and/or future cash flows. The Polaris team seeks to buy such undervalued companies worldwide.

Bottom-up fundamental research comprises the vast majority of time spent in the investment process. The research process is driven by a worldwide search for undervalued common stocks of strong companies that are priced to provide the required rate of return. Fundamental research covers financial analyses of companies including in-depth review of financial statements, research on suppliers, customers and competitors and meetings with company management.

This bottom-up stock selection results in portfolio weightings across industry, country and market capitalisation that are a function of what Polaris believes are the most attractive value opportunities. Although there are no limits on the proportion of the fund’s assets that may be invested in companies located in any one country, Polaris seeks to achieve broad geographic diversification and typically invests in approximately 15 industries. The fund will generally hold between 65 and 100 securities of companies listed globally which may also include exposure to companies in emerging markets and small capitalisation companies.

Management fee: 1.28% (of the net asset value of the fund).

Read the Product Disclosure Statement for more details on fees and expenses that may be charged.

Generally semi-annually

  • Lonsec1 – Recommended
  • Zenith2 – Approved
  • Morningstar3 – four star Morningstar RatingTM (quantitative rating)

These reports are only available to licensed financial advisers on request. Please contact your local BDM.

Available on:

  • Asgard
  • BT Panorama
  • BT Wrap
  • Federation
  • FirstWrap
  • Hub 24
  • IOOF Pursuit
  • Macquarie Accumulator
  • Macquarie Wrap
  • Netwealth
  • North

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