Portfolio Partners' High Growth Shares Trust has been awarded the inaugural Judges' Choice Most Innovative Product of the Year award in recognition of its innovative investment techniques and outstanding performance.
Portfolio Partners' High Growth Shares Trust has been awarded the inaugural Judges' Choice Most Innovative Product of the Year award in recognition of its innovative investment techniques and outstanding performance.
Announcing the award at its Managed Fund of the Year Awards in Sydney last night, Personal Investor stated that the trust won in this new category because it had delivered on what it promised. "This is a special award for products that sit outside the square." The trust's ability to go both long and short stocks meant it was particularly suited to the needs of the evolving Australian marketplace.
Joint Managing Director of Portfolio Partners Mr Craig Bingham said: "We are delighted the trust has been recognised by the industry with this high profile award. In an environment where investment vehicles are pigeon holed and where to dare to be different can mean missing out on a rating because there aren't enough people doing the same, it's evident the market is crying out for something new. This award acknowledges that Portfolio Partners has dared to be different and, in doing so, succeeded in providing investors with consistently high returns."
The High Growth Shares Trust is an Australian shares fund able to hold both long and short positions in industrial and resource stocks. Unlike many others of its kind, it uses short selling, margin lending and active trading to enhance investors' returns. Portfolio Partners has led the market in Australia in providing investors with a product of this kind.
"The trust was established in 1997 in response to large corporate investors demanding an Australian shares product with innovative features," Mr Bingham said. "As part of Portfolio Partners' move into the retail market, it has been available to retail investors for roughly 18 months. The recognition the trust is now receiving indicates the message about the value of the product is getting out to the retail market. There is a growing appetite for these types of products, and we are confident the trust will go from strength to strength."
The Judges' Choice award caps off a period of great success for the High Growth Shares Trust. With a one year gross return of 28.6% to 31 December 2000, it was ranked the best performing Australian shares fund for 2000 by independent research house ASSIRT - outperforming the benchmark S&P/ASX 200 Accumulation Index by an impressive 23.4%.
The excellent performance has continued into 2001. For the year to 30 June 2001, the trust has delivered a gross return of 24.2% against the index return of 9.1%. Since inception four years ago, the trust has delivered a gross return of 21.1% compared with 10.6% from the index.
Portfolio Partners has also enjoyed success in the managed fund section of the Personal Investor Managed Fund of the Year Awards. The Portfolio Partners-managed Norwich Union Allocated Pension Option has taken the silver in the Growth Option, and the Norwich Union Super and Rollover Bond Growth Option has been awarded silver in the Balanced Super Fund Option.
Background
Portfolio Partners is wholly owned by Norwich Union Australia, a member of the international CGNU plc group. CGNU plc was created in May 2000 from the merger of UK companies CGU plc and Norwich Union plc. With market capitalisation of $60 billion, CGNU is among the largest 20 companies listed on the UK stock exchange and has offices in 29 countries.
CGNU manages assets in excess of $500 billion, and is ranked the number one life insurer in the United Kingdom and the world's sixth largest insurance group.
Since 1994, Portfolio Partners has evolved from a specialist investment manager to a multi-product manager, with a firm focus on playing an active role in CGNU's global strategy of building a world class fund management business.
Portfolio Partners provides active funds management services to both institutional and retail clients. Its institutional clients include a variety of public, corporate and industry funds. With approximately $10b in funds under management - primarily in the areas of Australian equities, fixed interest and balanced funds - Portfolio Partners is an organisation with a wide range of investment management skills and a strong commitment to providing clients with innovative products, dependable investment growth and superior service.
For further enquiries
Fiona Baker
Head of Communications
Portfolio Partners, Australia
Telephone: 03 9220 0327
Mobile: 0401 147 955