Launched in 2004, the Pengana Emerging Companies Fund invests in a portfolio of small-cap industrial companies.
The Fund’s investment strategy is based on an underlying belief that smaller companies’ share prices are often incorrectly priced.
The investment process focuses on a very active company visitation program to assess management quality and over time the investment team will visit most of the 800 companies in its universe.
In addition to meeting with management, the team’s qualitative-based approach also focuses on product/service quality, competitive advantage, growth prospects, and financial position.
As the Fund will only invest in companies that can be valued with relative confidence, it will not own resource companies, listed property trusts or loss-making companies.
Active approach.
Many inefficiencies exist in the small caps market, enabling our team to identify mispriced opportunities.
Focus on minimising risks.
Our stringent research enables lower risk exposure to quality small cap companies.
Limited fund size.
Limiting the size of the Fund helps to maintain a nimble investment approach.
Conservative investment approach.
The Fund does not own resources companies and looks to avoid loss-making companies.
PERFORMANCE
- CHART
- TABLE
- UNIT PRICES
Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Performance figures are calculated using net asset values after all fees and expenses, and assume reinvestment of distributions. No allowance has been made for buy/sell spreads. Please refer to the PDS for information regarding risks. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
**The Fund does not invest in resources stocks. Resources stocks are included in the S&P Small Ordinaries Index but not the ASX Small Cap Industrials Index
Fund inception date: 1 November 2004
PERFORMANCE AT 31 Oct 2025
| 1 MTH | 1 YEAR | 3 YEARS P.A. | 5 YEARS P.A. | 10 YEARS P.A. | 15 YEARS P.A. | SINCE INCEPTION P.A. | |
|---|---|---|---|---|---|---|---|
| Emerging Companies Fund | 2.3% | 23.2% | 17.2% | 14% | 11.1% | 11.4% | 12.6% |
| S&P/ASX Small Ordinaries Index | 1.9% | 22.8% | 13.8% | 9.6% | 9.1% | 5.3% | 5.7% |
| Outperformance | 0.4% | 0.4% | 3.3% | 4.4% | 2% | 6.1% | 6.9% |
| ASX Small Cap Industrials Index** | 1.4% | 15.8% | 12.5% | 7.3% | 7.4% | 7.6% | 5.9% |
| Outperformance | 0.9% | 7.4% | 4.6% | 6.7% | 3.7% | 3.8% | 6.7% |
Swipe horizontally to see all columns
Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Performance figures are calculated using net asset values after all fees and expenses, and assume reinvestment of distributions. No allowance has been made for buy/sell spreads. Please refer to the PDS for information regarding risks. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
**The Fund does not invest in resources stocks. Resources stocks are included in the S&P Small Ordinaries Index but not the ASX Small Cap Industrials Index
Fund inception date: 1 November 2004
PORTFOLIO
- TOP HOLDINGS (alphabetically)
- Portfolio breakdown
Allocations may not sum to 100% due to rounding.
THE TEAM
Fund Facts
MINIMUM INVESTMENT:
$10,000
RECOMMENDED TIMEFRAME:
5 or more years
INCEPTION DATE:
1 November 2004
BENCHMARK:
S&P/ASX Small Ordinaries Accumulation Index
MANAGEMENT FEE:*
1.334% p.a. of the Fund’s net asset value
PERFORMANCE FEE:*
20.5% of the performance above the return of the benchmark.
BUY/SELL SPREAD:
0.20% on both applications and redemptions
ENTRY/ EXIT FEES:
Nil
FUND PRICING:
Daily
DISTRIBUTION FREQUENCY:
Twice yearly (June and December)
TYPICAL NUMBER OF STOCKS:
50-60
APIR CODE:
PER0270AU
*Fees are stated inclusive of GST and net of RITC. For more information, refer to the Fund’s product disclosure statement available under the Reports & Resources section.
PLATFORM AVAILABILITY
- AET Wholesale Access Fund
- AMP MyNorth
- Asgard Element (Masterfund)
- Asgard Infinity
- BT Investment Wrap
- BT Super Wrap
- BT Panorama
- CFS Edge – Super/Pension
- Centric IDPS
- Centric Super
- Hub24
- IOOF Portfolio Service
- IOOF Core
- IOOF Pursuit Select
- IOOF Grow Wrap
- Macquarie Wrap
- MLC Wrap/Navigator
- Mason Stevens
- Netwealth
- OneVue
- Praemium
- uXchange
- Wealthtrac
RATINGS
Lonsec Highly Recommended Rating
Zenith Recommended Rating
2015 Lonsec Icon Award
Finalist Money Management Fund Manager of the Year 2015 (Australian Equities (Small Cap))
Money magazine Best of the Best Small Companies Fund 2016
REPORTS AND RESOURCES
- Monthly Reports
- Financial Reports
- ESG policy
- PDS
- Notices
- October 2025 - October Report
- September 2025 - September Report
- August 2025 - August Report
- July 2025 - July Report
- June 2025 - June Report
- May 2025 - May Report
- April 2025 - April Report
- March 2025 - March Report
- February 2025 - February Report
- January 2025 - January Report
- December 2024 - December Report
- November 2024 - November Report: Celebrating 20 Years
- October 2024 - October Report
- September 2024 - September Report
- August 2024 - August Report
- July 2024 - July Report
- June 2024 - June Report
- May 2024 - May report
- Annual Financial Report 30 June 2024
- Half Year Financial Report 31 Dec 2023
- Annual Financial Report 30 June 2023
- Half Year Financial Report 31 Dec 2022
- Annual Financial Report to 30 June 2022
- Half year Financial report to 31 December 2020
- Annual Financial Report to 30 June 2021
- Annual Financial Report to 30 June 2020
- Annual Financial Report to 30 June 2019
- Annual Financial Report to 30 June 2018
- Half Year Financial Report to 31 December 2021
NEWS AND INSIGHTS
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