Aoris Investment Management

‘Defensive’ sectors appeal to investors because they deal in goods and services considered to be essential and economically insensitive, and are thus seen as a safe home for investors’ capital during difficult periods. In this quarterly feature, written by Portfolio Manager Alfred Tadros, we discuss some trade-offs investors might be making when investing in these sectors. Sectors that appear safe in the short term may carry longer term risks that aren’t immediately apparent. We describe this as the ‘Illusion of Safety’. We then explore our approach to both preserving and growing our clients capital, through good times and bad. The feature article begins on page 13 of the quarterly report below. ----------------------------------------------------------------------------------- This information has been prepared and issued by Aoris Investment Management Pty Ltd ABN 11 621 586 552 / AFSL 507281 (Aoris) as the investment manager of the Aoris International Fund (Fund). The Trust Company (RE Services) Limited ABN 45 003 278 831 is the responsible entity and the issuer of units in the Fund. For general advice only and does not take into account the objectives, financial situation or needs of investors. Read the PDS and Target Market Determination (TMD) available at https://lnkd.in/gMCKKEVU to see if the product is right for you. All investments contain risk and may lose value

Our CIO, Stephen Arnold, recently engaged in a Q&A with ASSET Magazine (NZ), where he shared Aoris' approach to global equity investing. Stephen articulates Aoris' definition of quality, draws on insights from his 32 years of investing experience, and explains why our portfolio is differentiated from those of our peers.

We are excited to share that the Aoris International Fund has been awarded Highly Commended in the ETF Product category at the 2024 SQM Research and Financial Newswire Fund Manager of the Year Awards. This recognition wouldn’t be possible without the dedication of our incredible team, the trust of our valued clients, and the support of SQM and Financial Newswire for hosting a fantastic event. You can invest in the Aoris International Fund via the ASX: ASX: BAOR - Unhedged ASX: DAOR - Hedged

Aoris is thrilled to announce that we've won the 'International Equities' category at the 2024 IMAP - Institute of Managed Account Professionals Awards! A big thank you to the IMAP team and judges for acknowledging the hard work of our team and for organising such a fantastic awards night. Congratulations to all the other winners and finalists!

Cintas is a an amazing business and has been part of Aoris' portfolio for more than 6 years. Providing uniform rental and facility services sounds dull, but Cintas' growth and success over decades has been truly remarkable. Listen to Aoris PM Delian Entchev bring the Cintas story to life in Business Breakdowns.

History tells us that few great businesses stay great; most experience mean reversion, or a gravitational fade towards mediocrity. In our June quarterly feature article, written by CIO Stephen Arnold, we examine why great businesses often fade towards mediocrity, and show how a handful of management actions can successfully fight the fade and increase the probability of durable success. The feature article begins on page 14 of the quarterly report below. ----------------------------------------------------------------------------------- This information has been prepared and issued by Aoris Investment Management Pty Ltd ABN 11 621 586 552 / AFSL 507281 (Aoris) as the investment manager of the Aoris International Fund (Fund). The Trust Company (RE Services) Limited ABN 45 003 278 831 is the responsible entity and the issuer of units in the Fund. For general advice only and does not take into account the objectives, financial situation or needs of investors. Read the PDS and Target Market Determination (TMD) available at https://lnkd.in/gMCKKEVU to see if the product is right for you. All investments contain risk and may lose value

Portfolio Manager Delian Entchev has featured on the latest episode of the Colossus Business Breakdowns podcast 🎙️ Delian joins Zack Fuss as they dive into the fascinating history and impressive growth of Cintas, America’s largest uniform rental company. From its humble beginnings during the Great Depression to its current status as a nearly $10 billion revenue powerhouse. Enjoy the breakdown! Spotify: https://lnkd.in/gpCF_hag Twitter/X: https://lnkd.in/gXPM93UV Apple: https://lnkd.in/gD89Qw59

We are excited to be joining the inaugural ASX Adviser Day in partnership with Kaplan this Thursday 6th June. Our CIO, Stephen Arnold, will explore why its crucial for investors to ignore macro noise and prioritise fundamental, quality investing for long-term investment success. Register now: https://lnkd.in/g9VGCayg

We are excited to announce that the Aoris International Fund has been upgraded to a Recommended rating by Lonsec. Lonsec based the rating on a number of key attributes, including the credentials and experience of the investment team, impressive track record and robust nature of the business. The Recommended rating is a testament to our disciplined investment processes and the Fund’s ability to deliver on its investment objectives. Over five years to March 2024, the Fund’s Class A delivered a return of 17.0% p.a. (after fees), outperforming the benchmark by 4.1% p.a. Aoris has grown to more than $1.3b in Funds Under Management. Well done to the entire team. ----------------------------------------------------------------------------------- This information has been prepared and issued by Aoris Investment Management Pty Ltd ABN 11 621 586 552 / AFSL 507281 (Aoris) as the investment manager of the Aoris International Fund (Fund). The Trust Company (RE Services) Limited ABN 45 003 278 831 is the responsible entity and the issuer of units in the Fund. For general advice only and does not take into account the objectives, financial situation or needs of investors. Read the PDS and Target Market Determination (TMD) available at https://lnkd.in/gMCKKEVU to see if the product is right for you. All investments contain risk and may lose value https://lnkd.in/g3pSx9U

One of our Portfolio Managers, Alfred Tadros, CFA recently sat down with the The Australian Financial Review for Fundie Q&A and discussed some of our holdings including Microsoft, Compass Group & Visa. Alfie also talks about the book that has most influenced his investor mindset and discloses a hidden brunch gem in Sydney's Surry Hills.