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Monash Absolute Investment Company

Fund Manager: Monash Invetors
Inception Date: Apr 12, 2016

A meeting between Monash Absolute Investment Company and suitor Sandon Capital is set to take place as early as Monday, after another merger proposal surfaced in the listed investment company sector. The meeting is shaping up as a heated one as Sandon – known for its activist approaches – made the proposal public in an ASX announcement on Friday, accusing Monash's board of failing to engage. Monash, chaired by Paul Clitheroe, hit back with its own statement, noting the parties had exchanged emails and the target had already proposed a meeting date. [More]

Monash Absolute Investment Company has announced it will offer shareholders an equal access share buyback of up to 10 per cent of its ordinary shares. The buyback, which would be offered on an equal access basis, would be take place in the first quarter of the 2019 financial year, with the price set at a five per cent discount to pre-tax net tangible asset backing (NTA). Additionally, existing shareholders would be offered an opportunity to participate in a share purchase plan (SPP) of up to the same quantity of shares as the number bought back. [More]

It’s a fairly obvious truth in the funds management world, but not everybody wants to try it: to beat the index, you have to have a portfolio that differs from the index. That was the philosophy behind Monash Investors, an experienced absolute-return specialist Australian equity investment manager established in 2012. The founders, Simon Shields – a former head of equities at both UBS and Colonial First State – and Shane Fitzgerald, a former senior equity analyst from UBS and JPMorgan, had no interest in comparing their investment performance to a market index, which they felt consigned an investment manager to riding the share market up and down. Instead, Shields and Fitzgerald decided to use their stock-picking skills to simply try to produce a positive return, no matter what the market did, while trying to avoid loss in any one financial year. They set a target return of between 12–15 per cent a year after fees, over a full market cycle, which they define as five to seven years. [More]

Monash Investors recently announced that they are launching a long short, absolute return listed investment company that will list on the ASX in April 2016. Named the Monash Absolute Investment Company (MA1), Monash has been managing a similar strategy as a managed fund, but after a number of clients asked to access their strategy in a listed form, the firm decided to launch their first LIC. Unlike most Australian equity based LICs offered in the market today, this one has a number of distinc ... [More]

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