About the Fund

The Wentworth Williamson Fund was founded with the aim of delivering strong returns by investing in companies listed on the ASX with a value, contrarian investment style. We resist crowd psychologies, regularly finding fertile ground for new investments in unpopular sectors and unloved companies.

We believe that a carefully constructed portfolio of between 10 and 25 well-understood investments trading below their intrinsic value gives the Fund the greatest opportunity of outperforming the market over the long term. This level of concentration allows each investment to have a meaningful impact on the Fund’s performance, once the market recognises its true value.

Our investment philosophy is not benchmark cognisant and our portfolio would normally vary materially from the Index.

Fund at a glance

Investment objective

To earn long-term returns superior to that of our competitors

Investment universe

Seeking investment opportunities in Australian and New Zealand securities

Minimum investment

$250,000

Investment horizon

5+ years

Applications

Monthly

Suitable investors

Wholesale and sophisticated investors, family offices and foundations

Performance

Long term historical data tells us that by sticking to our fundamental, value-based contrarian investment style we will generate market beating returns over the long term. However, we have always been aware that there would be periods in the cycle that could challenge that assumption for a time, and this has most certainly been the case in recent years. From late 2017, we witnessed an acceleration of the trend to growth and momentum investing, causing the drag on the Wentworth Williamson Fund performance that can be seen in the performance chart above and in early 2020, the COVID-19 pandemic impacted the unit price of the Wentworth Williamson Fund as global stock market prices plunged around the World.
The Fund currently represents an outstanding opportunity as an entry point. The estimated FY21 earnings multiple of our underlying investments of ~11x is low relative to history and even more so compared to the current market. The Wentworth Williamson Fund remains open for new investments from wholesale investors who are looking for exposure to outstanding value, under the radar investments not well covered or researched by the general market.

Unit Price and Distributions

Thinking differently

We do not believe the underlying value of most companies changes much from one week to the next. However, the price of shares of those companies has often been subject to huge volatility.

Our opportunity is to benefit from share price volatility in a world of an increasingly short-term-focused investment community. We often find fertile ground in outstanding little gems, outside the top 50 ASX companies that are overlooked by large, institutional investors.

Boutique offering

Seeking out under-the-radar opportunities.

Concentrated portfolio

Careful construction of 10-25 well-understood investments.

Absolute return focus

Seeking long-term, absolute returns. Focused on downside risk first and foremost.

Contrarian

Resisting crowd psychologies. We do not believe in following the pack.

High accessibility

Communicating openly and candidly with our clients.

Alignment of interests

Our team and associates are significant investors in the Fund.

Quarterly reports

December 2020

September 2020

December 2019

September 2019

March 2019

December 2018

All reports

September 2018

March 2018

December 2017

September 2017

Ready to start your application?

Apply now

Enough talk. Let’s build something together.