Talaria Global Equity Fund (Managed Fund) Cboe: TLRA

A high conviction, value biased approach to construct a portfolio of high quality, large cap companies from around the globe.

Fund Overview

Talaria Global Equity Fund (Managed Fund) (Cboe: TLRA)

The investment process behind the Talaria Global Equity Fund takes a high conviction, value biased approach to construct a portfolio of high quality, large cap companies from around the globe. Our unique investment methodology harnesses the benefits of consistent income generation and capital appreciation to grow investors’ real wealth.

Investors are able to invest in the Talaria Global Equity Fund via:
>  All major platforms
>  Active ETF (Ticker: TLRA)*
>  Online application or paper forms**

*TLRA units should generally trade on Cboe close to the prevailing Net Asset Value during the Cboe trading day (subject to the market bid/offer spread).

**Investing and redeeming units off market via an application from with the Responsible Entity is at the prevailing end of day Net Asset Value (subject to transaction costs and spreads). Investors should review the PDS for the fund.

Ticker: TLRA

iNAV
NAV

An indicative NAV per Unit (“iNAV”) will be published by the Fund throughout the Trading Day. The published iNAV is indicative only and might not be up to date or might not accurately reflect the underlying value of the Fund. The price at which the units in the Fund trade on the Securities Exchange may not reflect accurately the NAV of each such unit. The adoption of a robust pricing methodology for the iNAV is intended to minimise this differential, as is the role of the market maker, but will not be able to eliminate it entirely. The market price and iNAV price may also deviate because the market price of the units in the Fund is a function of supply and demand amongst investors wishing to buy and sell such units and the bid-offer spread the market maker is willing to quote for those units. To the extent permitted by law, neither the Issuer or its appointed agent shall be liable to any person who relies on the iNAV. IOPVs / iNAVs are calculated by Solactive AG (Solactive). The Funds and other financial instruments issued or managed by AUFM are not sponsored, endorsed, promoted or sold by Solactive in any way and Solactive makes no express or implied representation, guarantee or assurance with regard to the IOPVs / iNAVs or the Funds and other financial instruments.

Performance

as at 31/1/20241

1 Month3 Month6 Months1 Year3 Years (pa)5 Years (pa)7 Years (pa)10 Years (pa)Since Inception (pa)2
Total Return %2.63 2.974.54 15.0714.46 10.43 9.52 8.78 7.55
Average Market Exposure4 55% 56% 57% 57% 56% 56% 58% 59% 61%

1 Fund Returns are calculated after fees and expenses and assume the reinvestment of distributions.
2 Inception date for performance calculation is 18 August 2008.
3 Past performance is not a reliable indicator of future performance.
4 Average Market Exposure calculated on delta-adjusted exposure of underlying portfolio. Since inception market exposure is calculated from September 2008.

Distribution History

FrequencyEnd PeriodCents per UnitReinvestment Price
Quarterly31-Dec-237.600$4.9896
Quarterly30-Sept-237.300$5.0630
Quarterly30-Jun-2314.4457$5.0085
Quarterly31-Mar-237.250$4.9811
Quarterly31-Dec-227.000$4.7685
Quarterly30-Sept-227.000$4.6234
Quarterly30-June-2211.5642$4.6553
Quarterly31- Mar-22 7.250 $4.6553
Quarterly31-Dec-21 7.000$4.7216
Quarterly 30-Sept-21 7.000 $4.6565
Quarterly 30-Jun-21 10.766 $4.5745
Quarterly 31-Mar-21 6.000 $4.4270
Download historical distributions      

Growth of $10,000 since inception6

Annual Distributions7

6 Calculations are based on exit price, net of management fees and expenses and assumes reinvestment of distributions. Past performance is not a reliable indicator of future performance.
7 Illustrates Distribution Returns for the Talaria Global Equity Fund – Managed Fund for the financial year ending 30 June 2023. Inception date is 18 August 2008.

Top 10 holdings8

Company NameHolding %CountrySectorDescription
Roche 5.6 Switzerland HealthcareA global leader in cancer treatments
Johnson & Johnson 4.8USAHealthcarePharmaceutical, medical devices and consumer health products company
Sanofi 4.6 France HealthcareTop 5 pharmaceutical firm with leading positions in diabetes and rare diseases
WEC Energy4.4USA UtilitiesA US regulated electricity and gas utility company
Secom 4.4JapanIndustrialsJapan’s largest protective and electronic security solutions provider
Gilead 3.9USA HealthcareLeading research based biopharmaceutical company
Sodexo 3.8FranceConsumer DiscretionaryA multinational food services and facilities management company
Wheaton Precious Metals 3.8 Canada MaterialsLarge precious metals streaming company
Bunzl3.6UKIndustrialMultinational distribution and outsourcing business
CF Industries 3.6USAMaterialsNorth America’s largest manufacturer of nitrogen-based fertilizer

8 Weightings include option positions held and cash backing put options. It assumes that put options will be exercised. Should the put option not be exercised the cash will revert to the unencumbered cash portfolio or may be used to cover further put options.

Sector allocation9

Regional Allocation10

9,10 Weightings include option positions held and cash backing put options. It assumes that put options will be exercised. Should the put option not be exercised the cash will revert to the unencumbered cash portfolio or may be used to cover further put options.
*USA includes American Depositary Receipts (ADRs) listings.

Fund Snapshot

APIR CodeAUS0035AU
Inception Date18 August 2008
Management Fee1.16% p.a.
LiquidityDaily
Buy / Sell Spread 0.20% / 0.20%
Distributions Quarterly
Recoverable Expenses 0.12% of the net asset value of the Fund for the financial year
Major Platform Availability AMP North, Asgard, Ausmaq, BT Wrap, BT Panorama, CFS FirstWrap, CFS FirstChoice, Hub24, IOOF Pursuit, Linear, Macquarie, Mason Stevens, MLC Wrap, MLC Navigator, MyNorth, Netwealth, Powerwrap, Praemium, Xplore Wealth
Entry and exit prices
Frequently Asked Questions

Need to know more about Talaria Capital and our funds?

Learn more about our listed and unlisted funds, our history, our process and more. 

When was Talaria founded? 

The Talaria strategy was founded in Melbourne, Australia in 2005. The Talaria Asset Management business was founded in 2018. The investment strategy has remained unchanged since inception in 2005  

Do the different funds have different strategies?

No the two funds available for investors run the same strategy, however one has the additional feature of Currency Hedging.  

How can I invest in the Fund(s)

You have a choice as to whether you apply for and redeem units via the responsible entity (RE) or buy and sell units on Cboe in the same way you buy other publicly listed ETFs and shares.  

TLRA and TLRH units should generally trade on Cboe close to the prevailing Net Asset Value during the Cboe trading day (subject to the market bid/offer spread).  

You can buy and sell units off market with the Responsible Entity at the prevailing end of day Net Asset Value (subject to transaction costs and spreads). 

Purchasing via the listed process, also known as an active ETF, is accessible via your share trading platform, stockbroker or financial advisor. 

Investing via the unlisted process can be done via the Fund’s Responsible Entity Australian Unity – more information is available here. 

How does the fund account for ESG considerations?

We believe the consideration, understanding and management of ESG issues in conjunction with financial analysis can generate better long-term performance for clients. Similarly, active engagement with company management seeks to encourage greater awareness of issues impacting corporate sustainability. To assist with the identification of relevant issues we complement our internal analysis with the resources of dedicated ESG research firms. Find out more on our dedicated ESG page.

Does Talaria have a rating from any research houses?

Yes, Talaria has a Highly Recommended rating from Zenith Investment Partners for both its listed and unlisted versions of the Talaria Global Equity Fund (Managed Fund) and The Talaria Global Equity Fund – Currency Hedged (Managed Fund).

Talaria is also rated Recommended by Lonsec for both funds.