Burman Australian Concentrated Shares Fund
Former Bell Direct equities strategist Julia Lee has established her own boutique fund manager and launched its first product - the Burman Australian Concentrated Shares Fund.
In the fund's product disclosure statement, Burman Invest says that it aims to identify companies with an improving growth outlook, underpinned by a catalyst for ongoing growth. Catalysts could include macro-economic trends, such as population growth or structural changes in a company, such as a new product or strategy.
The fund will invest in between 10 to 20 stocks, mainly in the S&P/ASX 200, with no single stock making up more than 8 per cent of the portfolio at the time of investment.
"The fund aims to deliver superior returns when the Australian sharemarket is rising, and capital protection when prices are falling," the manager says in the PDS.
The fund will charge a management fee of 1 per cent per annum, plus a performance fee of 15 per cent of fund earnings above the market return. The minimum investment is $50,000 but Burman says in its PDS that it can accept smaller applications at its discretion.