Acclaimed team launches first retail fund
Mint Asset Management Limited is launching a managed fund to target investment in companies listed on the Australian and
New Zealand stock exchanges.
The Mint Australia New Zealand Active Equity Trust will concentrate investment in up to 25 companies that meet its
stringent selection criteria and will seek to generate total returns five per cent or more above the 90 day bank bill
rate.
“A feature of the fund will be its transparent fee structure and a performance fee hurdle which reflects the risk free
rate for our investors plus an appropriate risk premium for investing in shares,” says Rebecca Thomas, Mint Chief
Executive and Chief Investment Officer.
The fund is the first retail offering of the boutique funds manager launched last year by Rebecca Thomas, Mark Ford and
Shane Solly each of whom has a track record of success in funds management for major institutions.
Shane Solly will be the Portfolio Manager for the Mint Australia New Zealand Active Equity Trust.
“Upcoming tax treatment changes mean investors now see Australia and New Zealand as one large share market opportunity,”
says Rebecca Thomas.
Core holdings of individual stocks within the fund will range from 3 to 20 per cent. The top 10 stocks held by the fund
are expected to comprise at least 50 per cent of the fund, and be identified by Mint as having the greatest potential to
deliver attractive total returns (adjusted for risk).
“There will be no fixed allocation of investment between countries, regions or sectors,” Rebecca Thomas says.
“It’s simply about owning the right stocks at the right price.”
Mint’s rigorous criteria for buying stocks will be matched by a disciplined approach to selling. Those stocks that no
longer meets Mint’s criteria or whose total return prospects are no longer compelling will be scrutinized for potential
reduction or sale.
The annual base management fee, including administration, will be 1.25 per cent, with a 10 per cent out performance fee
on returns in excess of the fund’s hurdle, the 90 day bank bill rate plus 5 per cent. Fees are designed to be reasonable
and to ensure Mint are rewarded for delivering excess returns to their clients.
Rebecca Thomas says Mint has the advantage as a new, boutique business of not dealing with legacy issues that other
fund managers face when introducing the benefits of the new tax regime for investors.
“The growth of boutique fund managers worldwide has been premised on aligning the interests of the fund manager and the
investor together,” Rebecca Thomas says.
“This is our business model and the one we think will dominate in the years to come.”
Mint’s principals will also be investors in the trust.
The minimum investment will be $5000 with additional minimum tranches of $2000. Units in the fund will be valued
monthly. Entry fees will be by negotiation between investors and their financial advisors.
BIOGRAPHIES:
Rebecca Thomas, LLB (Hons), MSI
CEO/Chief Investment Officer
Rebecca Thomas arrived in New Zealand in 2004 from the UK where she had an outstanding track record and reputation, both
as a Chief Investment Officer (CIO) and CEO.
She also worked in a consulting capacity and as a non-executive director for a number of UK companies.
In New Zealand, Rebecca led one of the country's most successful investment teams as CIO before deciding to set up Mint
Asset Management with Mark Ford. At Mint, Rebecca holds the dual role of Chief Executive and Chief Investment Officer.
Rebecca qualified as a barrister in the United Kingdom and is a member of the Securities and Investment Institute of
London.
Mark Ford
Executive Director
Mark Ford was an early participant in New Zealand’s deregulated financial markets becoming an inter-bank foreign
exchange dealer and subsequently a proprietary currency derivatives trader with Macquarie Bank (then Hill Samuel) in
Wellington in 1984. During the late 1980s and early 1990s Mark worked in Sydney, Tokyo and New York with both Macquarie
and later with Banque Indosuez of Paris as part of the French bank’s expatriate team managing global currency derivative
exposure.
In 1999 Mark returned to New Zealand spending a brief period with an investment consultancy group before assuming a
senior management role with one of New Zealand's largest fund managers where he had the primary responsibility of
building and maintaining the institutional and wholesale funds management businesses.
Mark has an honours degree in Law and a degree in Economics from Auckland University.
Shane Solly, CFA, BBS, Dip Bus
Portfolio Manager
Shane Solly, CFA is Portfolio Manager Trans-Tasman (New Zealand & Australian) Equities at Mint Asset Management.
Shane has more than 17 years of investment management experience centred on equities and listed property securities
within New Zealand and Australia. During his career, Shane has successfully managed an extensive range of trans-Tasman
equity portfolios for institutional and retail investors, producing consistently high levels of performance with low
levels of risk over sustained periods of time.
At Mint Asset Management, Shane is responsible for all aspects of trans-Tasman equity fund management, including
investment research and portfolio construction.
Shane holds a Bachelor of Business Studies, a Diploma in Accounting, and has earned the right to use the CFA (Chartered
Financial Analyst) designation.
ENDS