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We are driven by the principles of ethical value investment

Our Portfolio

The Benjamin Graham / Warren Buffet approach of "value-investing" best characterises the investment style of the Fund. The Fund will focus on research and company fundamentals. The manager's investment philosophy is founded upon on-going fundamental research on Australian listed companies.  A number of quantitative filters on company fundamentals will be employed to identify intrinsic value and invest where a "Margin of Safety" exists with an overarching ethical ESG filter.


How is the fund managed?

The fund is actively managed using both top-down industry and geographical segmentation and bottom-up fundamental analysis.  The overall style can be categorised as Value-Investing with risk-weighted exposure to 'growth at a reasonable price'. The manager filters the All Ordinaries stocks, by macro-economic factors relating to industry and geography and by company-specific factors (i.e. ethical ESG criteria, ROE, core franchise, earnings growth, management and balance sheet).

Price considerations are then be taken into account, including valuation, industry comparisons and modelling. All inputs are internally generated. Portfolio construction has broad guidelines to provide flexibility and focus the Fund Manager on enhancing investor returns rather than meeting strict rules.

The portfolio incorporates 10 to 25 stocks. Turnover is generally low, with total portfolio turnover not expected to exceed 35% per annum.

Examples of Previous
Investing in the Fund

Information Memorandum: Fortis WA Equities Fund

For more information on investing in the fund please download the Information Memorandum. To apply for units in the fund, simply fill in the application section (pages 16-18).  Currently the fund is open to a very limited number of new investors.  We may, from time-to-time, provide opportunities for new investors to join the fund.

Click on the document below to download a copy of the Information Memorandum for the Ethical Capital Fund.  If you would like to receive a published copy, please click here.

Fund Performance
Ethical Capital Fund IM 2018.png

Performance since inception in 2010 

  • The Fund has consistently outperformed key benchmark indices since inception.

  • The Fund has been actively managed in highly volatile market conditions since the Fund commenced.

  • The Fund adheres to the investment criteria set out in the Information Memorandum.

  • Performance is underpinned by rigorous stock selection and valuation.

- Warren Buffett
“I will tell you how to become rich.
Close the doors. Be fearful when others are greedy and greedy when others are fearful.”  

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