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Elevation offers to lift returns

Elevation Capital is offering New Zealand investors the chance to access some of the world’s best fund managers with the launch of their Global Value Fund of Funds.

Tuesday, April 19th 2011, 7:07AM

by Benn Bathgate

The fund invests 90% of its balance evenly across three funds; the Sequoia Fund, Third Avenue International Value Fund and the IVA Global SICAV fund, with the remaining 10% in cash.

Elevation Capital founding director Christopher Swasbrook said the funds were selected for their adherence to a ‘margin of safety' investment philosophy, successful long term track record, global investment flexibility and transparency.

He said these were qualities shared by Elevation Capital.

"Independent thinking, disciplined investing. We came up with that in 2007 not long after we started this firm because we felt that was the best summary for what Elevation Capital stands for. And I think this fund fits in completely with that."

Swasbrook said that for Elevation, it was important in all there investments to establish a margin of safety by investing in securities that trade at an appreciable discount from their estimate of underlying value.

"That leaves room for imprecision, error, bad luck or the vicissitudes of markets and economies."

He also highlighted the importance of selecting fund managers with proven, long term track records.

"We're finding very successful managers that run money on an all-weather basis with a significant margin of safety in their underlying portfolios that deliver attractive long term returns to their investors without taking undue risk."

"These managers have delivered outperformance relative to all the major benchmarks and they haven't taken a lot of risk to do it, in some cases they've had big cash balances," he said.

As well as offering access to managers not easily available in New Zealand, Swasbrook said the fund also offered an important opportunity for investor diversification.

"We really do believe that this is a product that every New Zealander could put $5 into and sleep soundly at night because there is an inherent diversification, very competent managers and let's not forget New Zealanders need to diversify more offshore. This is a mechanism for them to diversify most effectively."

The fund is domiciled in New Zealand and has a minimum initial investment of $25,000, with a minimum regular contribution of $500 that can be paid monthly, quarterly or annually.

Benn Bathgate is a business reporter for ASSET and Good Returns, email story ideas to benn@goodreturns.co.nz

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