This annual report marks the three-year anniversary of the establishment of our fund in Australia, a significant enough time frame for investors to understand Alpha’s investment management DNA.
We are pleased that many of the key elements of our investment thesis described at the outset of the fund have materialised, resulting in strong investment performance since inception. This includes significant structural changes that have occurred in the Israeli capital markets which will in our view, continue to propel excess value creation for many years to come.
||Doral Group Renewable Energy R||Israel||Renewable Electricity|
||Fox Wizel Ltd||Israel||Apparel Retail|
||Mivne Real Estate KD Ltd||Israel||Real Estate Operating Companies|
||Priortech Ltd||Israel||Electronic Components|
|1 Month||1 Year||2 Years P.A.||3 Years P.A.||SINCE INCEPTION|
|Fund Class A (AUD)||5.2%||12.8%||19.7%||12.2%||12.2%|
|Fund Class B (USD)||5.5%||18.1%||21.3%||13.2%||13.2%|
|Tel Aviv Stock
Exchange 125 Index
|Tel Aviv Stock
Exchange Small And
Medium Cap 60 Index
|VOLATILITY3||11.3%||NUMBER OF STOCKS||34|
|BETA (USING DAILY RETURNS)4||0.55||MAXIMUM DRAW DOWN||-13.6%|
|VOLATILITY3||10.7%||NUMBER OF STOCKS||34|
|BETA (USING DAILY RETURNS)4||0.51||MAXIMUM DRAW DOWN||-11.4%|
Founder & CEO
Founder & Managing Partner
The Pengana Alpha Israel Fund invests in listed Israeli companies that produce cutting edge – both high and low tech – technologies. These Israeli listed companies have developed solid intellectual property coupled with strong global distribution.
The Fund offers Australian investors diversification within global equity exposure to a unique and promising market that is very much skewed to industries and technologies that are either limited, or do not exist, in the Australian market place, such as: the semiconductor industry, solar and water treatment technology, aerospace and electronic defence industries, and cyber security technologies.
|Harding Loevner International Fund||Axiom International Ethical Fund (Hedged)||Axiom International Ethical Fund||High Conviction Property Securities Fund|
|Australian Equities Fund||Global Small Companies Fund||WHEB Sustainable Impact Fund||Emerging Companies Fund|
|High Conviction Equities Fund||Pengana International Equities Limited (ASX: PIA)||Private Equity Trust (ASX: PE1)||Alpha Israel Fund|
1. Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Class A is shown in $AUD, Class B is shown in $USD, Benchmarks 1&2 are $ILS. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
2. Inception 1st January 2018.
3. Annualised Standard Deviation since inception
4. Relative to Tel Aviv Stock Exchange 125 Index
Benchmark 1: Tel Aviv Stock Exchange 125 Index
Benchmark 2: Tel Aviv Stock Exchange Small And Medium Cap 60 Index
Please note: This fund is only open to Wholesale Investors.