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Fund Overview
An evolution of the Seneca Australian Shares SMA which was established in 2020, the Seneca Australian Shares Fund is a relative return fund that aims to outperform the S&P/ASX 200 Acc Index. The portfolio consists of 20-40 Australian shares with a focus on high quality businesses trading at fair valuations. Preference is for growth companies with strong balance sheets, sustainable competitive advantage and large, growing addressable markets.
Minimum initial investment: $50,000
Key Features
- Asset Class: Australian Equities
- Investment Universe: ASX listed securities
- Number of Holdings: Typically 20–40
- Investment Style: Long-only, unconstrained
- Management Fee: 0.75% p.a.
- Performance Fee: Nil
- Structure: Wholesale unit trust
- Availability: Wholesale Investors only
Investment Objective
The Fund aims to outperform the S&P/ASX 200 Accumulation Index after fees.
Investment Approach
The Fund is managed using a bottom-up, research-driven approach, informed by:
- Fundamental analysis of business quality and earnings sustainability
- Valuation discipline and downside risk awareness
- Portfolio balance and diversification
- Active monitoring and ongoing review
The strategy is long-only and not constrained by style labels, allowing flexibility across sectors and market conditions. Cash levels may vary depending on opportunity and risk considerations.
Investor Eligibility
The Fund is available to Wholesale Investors only, as defined under the Corporations Act. Wholesale Investors generally include individuals who:
- Have net assets of at least $2.5 million, or
- Have earned a gross income of at least $250,000 per year for the past two financial years
Further information is available on the Australian Government’s MoneySmart website: https://moneysmart.gov.au/glossary/sophisticated-investor
Important Information
Investing involves risk, and the value of investments can rise or fall. Past performance is not a reliable indicator of future performance.
Seneca Australian Shares SMA
The Seneca Australian Shares Fund is newly established; however, the underlying investment strategy has been applied in a Separately Managed Account since June 2020, which continues to operate in parallel with the Fund, providing a relevant reference point for how the strategy has been managed over time. Please click here to view the SMA track record.
Performance
As at
30 April 2026
•
Inception Date:
1/02/2026
Performance
1 month
3 months
6 months
1 year (ann.)
2 years (ann.)
3 years (ann.)
Incep. (ann.)
Incep. (cum.)
Australian Shares Fund
+4.59%
-5.96%
-
-
-
-
-5.96%
-5.96%
Benchmark
+2.18%
-1.22%
-
-
-
-
-5.96%
-1.22%
Relative Return
+2.41%
-4.74%
-
-
-
-
-4.74%
-4.74%
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Cumulative returns (since inception)
Portfolio Managers
Luke and Ben are responsible for research, security selection, portfolio construction, and ongoing management of the Fund.
Next Steps
Ready to invest?
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