Proven value investors
One of the longest standing value strategies in the market
Clear and disciplined approach
A strong focus on sustainable free cash flows
Genuinely differentiated portfolio
Built from an all-cap, all-country approach
Investment approach
Polaris searches the globe to uncover some of the world’s most undervalued companies, regardless of country, industry, or company size. The companies that typically enter the portfolio generate strong, sustainable free cash flows, have conservative balance sheets, and meet stringent valuation metrics. Polaris believes cashflow is the key indicator of a company’s value, and assesses companies based on conservative estimates of their ability to generate excess cash on a sustainable basis into the future. The research team regularly screens up to 45,000 companies to determine those that appear to be the most undervalued. These valuation screens provide a starting point to Polaris’ fundamental, research driven approach, which includes researching suppliers, customers, and competitors, as well as visiting company management.
Discover access options
Polaris Global Equity Fund
Flagship, no performance fee
| Fund facts | |
| Investment objective | The 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 |
| Benchmark | MSCI World ex Australia Index, in $A unhedged with net dividends reinvested |
| Portfolio managers |
Bernard Horn, Sumanta Biswas, Bin Xiao, Jason Crawshaw |
| Inception date | 10 October 2014 |
| Fund size | $A278.7m (current as at 31 July 2024) |
| Management fee | 1.28% pa of the net asset value of the Fund |
| Minimum investment | $A5,000 |
| Distribution frequency | Generally semi-annually |
| APIR code | MAQ0838AU |
| Target Market Determination | The Target Market Determination (TMD), available at macquarie.com/mam/TMD, includes a description of the class of consumers for whom the Fund is likely to be consistent with their objectives, financial situation and needs. View TMD |
| Macquarie Professional Series | This Fund is proudly brought to you by Macquarie Professional Series. Learn more |
Read the Product Disclosure Statement for more details on fees and costs that may be charged.
The Fund is designed for consumers who:
- are seeking capital growth and income distribution
- are intending to use the Fund as a core component, minor allocation or satellite allocation within a portfolio
- have a minimum investment timeframe of seven years
- have a high or very high risk/return profile for that portion of their investment portfolio, and
- require the ability to have access to capital within one week of request.
Researcher ratings
Lonsec 1
'Recommended'
Morningstar 2
Morningstar Medalist Rating TM – 'Bronze' assigned 31.06.2024
Analyst Driven 100%
Data Coverage 100%
Zenith 3
'Approved'
These reports are available to licensed financial advisers on request. Please contact your local Business Development Manager.
Past performance is not a reliable indicator of future performance. Total returns are calculated based on changes in net asset values and assumes the reinvestment of distributions.
The performance information shown above may differ to the information in the performance report due to rounding.
* Inception date is 10 October 2014
** Total net returns are quoted after the deduction of all fees and expenses. Due to individual investor circumstances, your net returns may differ from the net returns quoted above.
*** The Benchmark is the MSCI World ex Australia Index, in $A unhedged with net dividends reinvested.
Available investment platforms
- Asgard
- BT Panorama
- Expand Extra
- FirstWrap
- Hub 24
- Macquarie Wrap (Inv Manager & Consolidator)
- MLC Wrap
- MyNorth
- Netwealth
- North
- PowerWrap
- Praemium (MIS)
- uXchange
- Xplore
Polaris Global Equity Fund (Hedged)
Hedged, no performance fee
| Fund facts | |
| Investment objective | The Fund aims to achieve a long-term total return (before fees and expenses) that exceeds the MSCI World ex Australia Index, in $A hedged with net dividends reinvested |
| Benchmark | MSCI World ex Australia Index, in $A hedged with net dividends reinvested |
| Portfolio managers |
Bernard Horn, Sumanta Biswas, Bin Xiao, Jason Crawshaw |
| Inception date | 28 December 2018 |
| Fund size | $A1.9m (current as at 31 July 2024) |
| Management fee | 1.28% pa of the net asset value of the Fund |
| Minimum investment | $A5,000 |
| Distribution frequency | Generally semi-annually |
| APIR code | MAQ2806AU |
| Target Market Determination | The Target Market Determination (TMD), available at macquarie.com/mam/TMD, includes a description of the class of consumers for whom the Fund is likely to be consistent with their objectives, financial situation and needs. View TMD |
| Macquarie Professional Series | This Fund is proudly brought to you by Macquarie Professional Series. Learn more |
Read the Product Disclosure Statement for more details on fees and costs that may be charged.
The Fund is designed for consumers who:
- are seeking capital growth and income distribution
- are intending to use the Fund as a core component, minor allocation or satellite allocation within a portfolio
- have a minimum investment timeframe of seven years
- have a high or very high risk/return profile for that portion of their investment portfolio, and
- require the ability to have access to capital within one week of request.
Performance
Past performance is not a reliable indicator of future performance. Total returns are calculated based on changes in net asset values and assumes the reinvestment of distributions.
The performance information shown above may differ to the information in the performance report due to rounding.
* Inception date is 28 December 2018
** Total net returns are quoted after the deduction of all fees and expenses. Due to individual investor circumstances, your net returns may differ from the net returns quoted above.
*** The Benchmark is the MSCI World ex Australia Index, in $A hedged with net dividends reinvested.
Available investment platforms
- Mason Stevens
- Praemium (MIS)
Risks
All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying investments. Generally, the higher the potential return of an investment, the greater the risk (including the potential for loss and unit price variability over the short or long term). 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, by material amounts over short periods.
Market risk: The investments that the Fund has exposure to are likely to have a broad correlation with share markets in general. Share markets can be volatile and have the potential to fall by large amounts over short periods of time. Poor performance or losses in domestic and/or global share markets are likely to negatively impact the overall performance of the Fund.
International and emerging market risk: The Fund has exposure to a range of international economies, including emerging economies. Global and country specific macroeconomic factors may impact the investments that the Fund has exposure to. 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. Emerging markets may experience lower liquidity (including as a result of securities or bond markets being closed for extended periods), potential for political unrest leading to recession or war, greater potential for sanctions to be imposed on the country or its citizens, companies or institutions, increased likelihood of sovereign intervention (including default and currency intervention), currency volatility, and increased legal risk.
More information on the risks of investing in the Fund is contained in the Product Disclosure Statement, which should be considered before deciding to invest in the Fund.
1
Download the Product Disclosure Statement – Polaris Global Equity Fund / Polaris Global Equity Fund (Hedged), Information booklet, and check for PDS updates
3
Submit the application form and any required identification documents
Macquarie Asset Management
Client Service
mam.clientservice@macquarie.com
PO Box R1723
Royal Exchange,
NSW 1225, Australia
For enquiries call
Toll free: 1800 814 523
International: +61 2 8245 4900
Monday – Friday 8:30am to 5:30pm (Sydney time)
Performance report (Polaris Global Equity Fund)
Performance report (Polaris Global Equity Fund (Hedged))
Target Market Determination (Polaris Global Equity Fund)
Target Market Determination (Polaris Global Equity Fund (Hedged))
1 The rating issued for Polaris Global Equity Fund [assigned 05/2024] and the Polaris Global Equity Fund (Hedged) [assigned 05/2024] is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2024 Lonsec. All rights reserved.
2 The Morningstar Medalist Rating™ for the Polaris Global Equity Fund is ‘Bronze’ as of [31/06/2024], and the Polaris Global Equity Fund (Hedged) is ‘Neutral’ as of [31/06/2024] © 2024 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. This report or data has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or New Zealand wholesale clients of Morningstar Research Ltd, subsidiaries of Morningstar, Inc. Any general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a financial adviser.
3 The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned MAQ0838AU November 2023) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.
This information has been prepared by Macquarie Investment Management Australia Limited (ABN 55 092 552 611 AFSL 238321), the issuer and responsible entity of the Fund(s) referred to above. This is general information only and does not take account of the investment objectives, financial situation or needs of any person. It should not be relied upon in determining whether to invest in a Fund. In deciding whether to acquire or continue to hold an investment in a Fund, an investor should consider the Fund's product disclosure statement. The product disclosure statement is available on our website at macquarie.com/mam/pds or by contacting us on 1800 814 523. This information is intended for recipients in Australia only.