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SNC
December 2013
$146.7M
As at 31 March 2024
8.4%* p.a.
As at 31 March 2024
7.5%* p.a.
As at 31 March 2024
*The return figure is gross portfolio return, which is after investment management fees, but before performance fees and corporate expenses. Dividends assume annual dividend rate of 5.5 cents per share and a share price of $0.735. Past performance is not indicative of future performance. Refer to the relevant Prospectus for all relevant information about fees and exceptions.
An activist investment strategy applied to undervalued companies, that few investors have the capacity to implement themselves.
Positive absolute returns over the medium to long term (three to five years).
An income stream of regular, fully-franked dividends.
The focus is on investing in small to medium-sized companies and a concentrated number of them, typically around 20 to 25 companies.
An active engagement strategy is hands on and a concentrated portfolio allows us to take strategic positions and pursue them with the related Boards to achieve outsized returns.
A proportion of the fund will be held in cash in readiness for a new value investment opportunity, or if considered a better alternative to being invested at that point.
“SNC is a genuinely differentiated product and one that provides genuine diversification benefits.”
“Well-articulated and differentiated investment philosophy supported by a detailed and repeatable investment process that satisfies both value and activist opportunity criteria.”
Learn more about the Recommended Grade rating (issued 20 October 2022).
“Being an effective activist manager is a rare skill, requiring a certain combination of skills and PM Gabriel Radzyminski has those skills.”
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Gabriel is the Founder of Sandon Capital Pty Ltd and Investment Manager of Sandon Capital Investments Ltd. He has been involved in the financial services sector for more than 24 years.
Gabriel is a Non-Executive Director of Future Generation Investment Company Limited (ASX:FGX) and ReverseCorp Ltd (ASX:REF).
Peter Velez is a corporate lawyer specialising in equity capital markets, mergers and acquisitions and funds management. Peter has also advised extensively on activist corporate activity, ASX compliance and corporate governance. Peter has been a practising lawyer since 1989 having worked at then national firm Freehill Hollingdale and Page, and Sydney boutique corporate firm Watson Mangioni from 1995 to 2016. He played a key role in the development of externally-managed listed investment companies having been involved in the IPO of over 25 LICs since 1999.
Peter brings to the board an understanding of the legal framework within which the company operates, an appreciation of the challenges faced by an activist style of investing and an appreciation of the key part that sound corporate governance plays in the success of a company.
Jacqueline Sullivan is an experienced funds management executive, having gained experience in senior executive roles at AMP Capital, both in Australia and overseas. Her executive experience culminated with 7 years as Managing Director, Global Distribution for AMP Capital.
Since then, Jacqueline has engaged in advisory work as well as being a non-executive director of WAM Microcap Ltd (ASX:WMI).
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