LMI Monthly Update - Are You Doubling Down on Your Aussie Large Cap Exposure?
Full Report Available atAre You Doubling Down on Your Aussie Large Cap Exposure?
The release of financial accounts is one of the few occasions we get a look at the full portfolio of a LIC or LIT. With the completion of results season for the majority of LICs and LITs at August-end we got a look at the portfolios and thought it was a good time to take a look at whether Australian Large Cap LICs offer a level of diversification or whether investors are doubling down on their stock exposure in the event multiple Australian Large Cap LICs are owned. Below we take a look at the overlap of stocks of nine Australia Large Cap LICs.
Bailador Technology Investments is engaged in investment in internet-related businesses in Australia and New Zealand. Co. focuses on software, internet, mobile, data, online market-places and telecommunications-related businesses with proven revenue generation and management capability, demonstrated business models and expansion opportunities.
Cadence Capital is engaged in investing primarily in securities listed on the Australian Securities Exchange. Co. also takes short positions and deals in derivatives for hedging purposes. As of June 30 2010, Co.'s investment portfolio was valued at A$30,360,857.
Clime Capital Limited is an investment company. The Company is engaged in the business of investment management within Australia. The Company's principal activity is engaged in investing in securities listed on the domestic and international stock exchanges. The Company operates in Australia and holds all assets within Australia. The Company's investment objective is to generate returns for shareholders by investing in businesses with understandable economics and excellent growth and income potential that are run by capable management. The Company's investments include derivative financial instruments (options), and investments in publicly listed and unlisted companies, and fixed interest securities. The Company has various investments, which are classified as held-for-trading investments. The Company's investment manager is Clime Asset Management Pty Limited, which is a subsidiary of Clime Investment Management Limited.
Loomis AB is a holding company. Through its subsidiaries, Co. provides solutions for cash handling in the U.S., majority parts of Europe and in Argentina. Co. provides cash in transit (CIT), cash management services (CMS) and solutions which integrate CIT with CMS. The CIT service transports cash to and from stores, banks and automated teller machines (ATMs). The CMS service counts, quality controls and packages bills and coins in Co.'s cash centers. Co. also provides solutions for retail outlets and for maintenance of ATMs, as well as analysis, forecasting and reporting of customers' cash flow. The services are targeted at banks, retailers, commercial enterprises and the public sector.
Qualitas Real Estate Income Fund. Qualitas Real Estate Income Fund (The Trust) is an Australia-based real estate investment trust. The Trust's objective is to provide monthly income and capital preservation by investing in a diversified portfolio of investments that offers exposure to real estate loans secured by first and second mortgages. The Trust's manager seeks to invest the Trust's capital in a portfolio of Australian secured real estate loans in line with its public distribution system (PDS). It also intends to invest in secured real estate loans in New Zealand from time to time to provide further investment diversification. The Trust's manager is QRI Manager Pty Limited.
Regal Investment Fund. Regal Investment Fund is an Australia-based investment company. The Company manages a number of alternative investment strategies and performs investment management and investment advisory services. The Company's investment objective is to provide investors with exposure to a selection of alternative investment strategies. Its Investment Guidelines allow the Fund's Portfolio to include investments in Australian and international securities both listed and unlisted, derivatives and cash. The Company's investment manager is Regal Funds Management Pty Limited.
Independent Investment Research, "IIR", is an independent investment research house based in Australia and the United States. IIR specialises in the analysis of high quality commissioned research for Brokers, Family Offices and Fund Managers. IIR distributes its research in Asia, United States and the Americas. IIR does not participate in any corporate or capital raising activity and therefore it does not have any inherent bias that may result from research that is linked to any corporate/ capital raising activity.
IIR was established in 2004 under Aegis Equities Research Group of companies to provide investment research to a select group of retail and wholesale clients. Since March 2010, IIR (the Aegis Equities business was sold to Morningstar) has operated independently from Aegis by former Aegis senior executives/shareholders to provide clients with unparalleled research that covers listed and unlisted managed investments, listed companies, structured products, and IPO's.
IIR takes great pride in the quality and independence of our analysis, underpinned by high caliber staff and a transparent, proven and rigorous research methodology.
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