The Australian Shares Fund is listed on ASX (ASX:FOR) as a Listed Investment Trust, and will be delisting on 14 June 2024

DELISTING INFORMATION

The Portfolio

We specialise in small, unusual opportunities that many investors miss. Our investing approach means the Forager Australian Shares Fund is unique in a number of ways:

  • By using a concentrated, selective, flexible approach we have been able to deliver long-term returns.
  • Due to our concentrated, value-driven approach the returns we deliver are unlikely to be correlated with any particular index, benchmark or asset class in the short term.
  • We aim to maximise the Fund’s expected return whilst taking calculated risks. We focus on avoiding permanent capital losses although accept the risks of investing in deep value stocks.
  • The Fund is permitted to invest in any ASX-listed security and hold unlisted securities (up to 10%) and as much cash as we deem appropriate. This allows us to be patient, nimble and seek value wherever it arises.
  • The Fund provides ordinary distributions on a cents-per-unit basis, which are paid semi-annually, set at a level that targets an annual distribution of approximately 4%1. The intention is to pay a special distribution in the years when the Fund’s taxable income is significantly in excess of the ordinary distribution. This is to create certainty and consistency of distributions over time. However, the Fund’s objective remains long-term capital growth.
  • The investment mix within the portfolio can change significantly and sometimes quickly. Ask your adviser or contact us for the latest investment mix and the size of the Australian Fund.

1 The Responsible entity reserves the discretion to amend the trust’s distribution policy.

Performance (net of all fees)

As at 30 April 2024 | Inception Date: 31/10/2009

18.16%
1 year
0.32% p.a
3 year
7.45% p.a
5 Year

*All performance figures for this fund are based on the Net Asset Value (NAV), not the market price. Past performance is not a reliable indicator of future performance. The Trust Co (RE Services) Limited and Forager Funds Management do not guarantee investment performance or distributions, and the value of your investment may rise or fall.

Fees

1.1%*
Management & expense recovery fee
10%*
Performance fee (on returns over 8% p/a)
$0
Establishment & withdrawal Fees

*Please refer to the Product Disclosure Statement for a detailed break down of fees and costs.

The performance fee in the Australian Shares Fund is 10% (inclusive of GST net of RITC) of the net return (excluding the impact of the performance fee) of the Fund in excess of 8% per annum (i.e. after the deduction of any fees (other than the performance fee), costs, expenses or taxes), calculated and paid semi-annually in arrears based on the average net asset value of the Fund over the relevant six month period.

All fees are accounted for in the calculation of the indicative NAV, announced daily on ASX.

Market Price vs. NAV

Visit ASX (FOR) Investor Centre

Australian Fund Team

Steve Johnson

Chief Investment Officer

Steve Johnson is Forager’s Chief Investment Officer and one of the founders of Forager Funds. He has a Bachelor of Commerce (Econometrics and Finance) from the University of New South Wales. He enjoys marathon running in his spare time and lives with his wife in Sydney, Australia. Steve regularly appears on Ausbiz, the ABC, CNBC and within Australian newspapers such as Australian Financial Review, The Australian and Livewire. You can also interact with Steve on Twitter @ForagerSteve.

Steve Johnson

Chief Investment Officer

Steve Johnson is Forager’s Chief Investment Officer and one of the founders of Forager Funds. He has a Bachelor of Commerce (Econometrics and Finance) from the University of New South Wales. He enjoys marathon running in his spare time and lives with his wife in Sydney, Australia. Steve regularly appears on Ausbiz, the ABC, CNBC and within Australian newspapers such as Australian Financial Review, The Australian and Livewire. You can also interact with Steve on Twitter @ForagerSteve.

Alex Shevelev

Portfolio Manager

Alex Shevelev joined Forager in July 2017 and is the Portfolio Manager of the Forager Australian Shares Fund, responsible for research, as well as portfolio management. He is of the classic Forager mould, he loves the under-rated, the undiscovered and an outright bargain.

Before Forager Alex was employed by Glennon Capital, Eight Investment Partners Group and Cadence. In between he gained valuable experience starting his own funds management venture. 

He has a Bachelor of Commerce (Finance and Econometrics) from the University of Sydney and is both a CFA Charterholder and CAIA Charterholder

Alex Shevelev

Portfolio Manager

Alex Shevelev joined Forager in July 2017 and is the Portfolio Manager of the Forager Australian Shares Fund, responsible for research, as well as portfolio management. He is of the classic Forager mould, he loves the under-rated, the undiscovered and an outright bargain.

Before Forager Alex was employed by Glennon Capital, Eight Investment Partners Group and Cadence. In between he gained valuable experience starting his own funds management venture. 

He has a Bachelor of Commerce (Finance and Econometrics) from the University of Sydney and is both a CFA Charterholder and CAIA Charterholder

Nicholas Plessas

ANALYST

Nicholas Plessas joined Forager in August 2023 and works as an analyst on the Forager Australian Shares Fund. He previously worked at Livewire Markets as a partnerships manager. Nicholas holds a Bachelor of Business (Finance) and a Bachelor of Laws from the University of Technology Sydney

Nicholas Plessas

ANALYST

Nicholas Plessas joined Forager in August 2023 and works as an analyst on the Forager Australian Shares Fund. He previously worked at Livewire Markets as a partnerships manager. Nicholas holds a Bachelor of Business (Finance) and a Bachelor of Laws from the University of Technology Sydney

Reports

Date
Monthly Report: Australian Fund April 2024 Download Report
Monthly Report: Australian Fund March 2024 Download Report
Monthly Report: Australian Fund February 2024 Download Report
Monthly Report: Australian Fund January 2024 Download Report
Monthly Report: Australian Fund December 2023 Download Report

Read all fund reports Invest in this fund

FASF Delisting

For more details on the delisting of the Forager Australian Shares Fund, due to happen on 14 June 2024, please visit the information page

Forager Australian Shares Fund Delisting – Notice of Meeting (NOM) and Explanatory Memorandum (EM)

NOM and EM