Private Portfolio Fund

Fund overview

Investors Mutual launched the Private Portfolio Fund in 2018 to mark the founding of IML 20 years earlier. Leveraging IML’s strength in bottom-up, fundamental research to identify opportunities, the approach to investing is benchmark unaware and unconstrained - focussed only on achieving the portfolio’s investment objectives of positive net returns and low volatility.


SQM Research on the IML Private Portfolio Fund

Robert da Silva and Tuan Luu discuss the IML Private Portfolio Fund.

Seeking the middle ground between cash and investing in equities

Tuan Luu discusses how the Fund uses a combination of strategies to meet the Fund's objectives.

Fund Facts

  • Portfolio Managers:
    Anton Tagliaferro, Tuan Luu & Marc Whittaker
  • Benchmark:
    RBA Cash Rate
  • Inception:
    1 July 2018
  • ARSN:
    624 888 035
  • APIR:
  • Distribution Frequency:
  • Performance fee:
    Performance fee 10.25% (including GST net of RITC) of performance in excess of 3% above the Benchmark. The performance fee is capped at 1.5% of the average Net Asset Value (NAV) in each financial year.
  • Management fee:
    Management Fee 0.993% (including GST net of RITC) of the NAV of the Fund

Investment Objective

The Fund aims to provide a rate of return (after fees and expenses and before taxes) which is 3% above the return of the RBA Cash Rate on a rolling four-year basis.

Investment Strategy

The Fund aims to generate consistent positive returns with low correlation to equity market directions, and aims to diversify its investments across its three core strategies:

1. Relative value: investing in reasonably valued assets with attractive characteristics and at times short-selling overvalued and/or structurally challenged assets.

2. Events: targeting corporate event catalysts such as takeovers, M&A, buybacks, capital issues and restructures.

3. Income: utilising IML’s research and stock-selection capabilities target inefficiencies in the market and to derive income from prudent option strategies.

The Fund will not be financially leveraged / geared, in that it will not borrow cash to gear the portfolio.

Net Performance

This fund was launched on 1 July 2018, therefore limited historical data is available.

Unit Prices

This fund was launched on 1 July 2018, therefore limited historical data is available.

Distribution Information

Period Ending Distribution
December 2021 2.0 cpu
June 2021 2.7 cpu
December 2020 Nil
June 2020 5.3 cpu
December 2019 nil
June 2019 6.5 cpu

For more information please refer to our Distributions page

Past performance is not indicative of future performance as a result past distributions are not indicative of future distributions.

Ratings & Awards

Researcher Rating
Zenith Recommended
SQM Research  4.25 stars - Superior
Lonsec Recommended


Zenith Recommended  

Lonsec Recommended

  SQM 4.25 stars    


Fund Manager of the Year 2022 Finalist - Long/Short Equities - Investors Mutual Private Portfolio

fund manager awards - long/short

Fund Manager of the Year 2022 Finalist - Emerging Funds - Investors Mutual Private Portfolio

Fund manager awards - emerging funds

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned 10 Feb 22) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.
The rating issued 10/2021 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a  recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no  obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit for ratings information and to access the full report. © 2022 Lonsec. All rights reserved.
The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.

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