Victor Smorgon Group

Despite gold surging 22% in 2024 to near all-time highs, driven by expected US rate cuts and geopolitical risks, gold equities have underperformed by 45% since 2020. This presents a potential opportunity for investors who have largely missed out on the gold run, with less than 1% of portfolios in gold. Victor Smorgon Group has been well placed in gold for some time now and has capitalised on the record run of the precious metal. The Victor Smorgon Partners Global Multi- Strategy Fund and Resources Gold Fund prefer mining stocks that are attractively priced, operate in safe jurisdictions and are forecast to generate strong cashflow yields in the next year. Read the full article by Victor Smorgon Group's Gold Portfolio Manager, Cameron Judd, which featured in The Australian this weekend.

We are thrilled to announce an exciting new chapter in our journey. Vicfam Plastics a key division of the Victor Smorgon Group is now Veeco Pallets. This name honours our late founder, Victor Smorgon, and highlights the ecological impact of our products. For 29 years, we have proudly been at the forefront of sustainability, transforming 37 million kilograms of post-consumer waste into high-quality, 100% recycled plastic products. Over 1 million of our pallets are in use across Australia, helping to divert waste from landfills while supporting a more circular economy. While our products and processes have evolved, our values have remained unchanged. From the beginning, our commitment has been to innovate and repurpose resources with integrity, always focusing on reducing waste and enhancing sustainability. This rebranding reflects our heritage and future as a leader in recycled plastics. Our mission is the same: to repurpose, reuse, recycle, and repeat—and we look forward to building a more sustainable future together. To learn more, check out our new website.  www.veecopallets.com.au

"...Opening the doors to outside money doesn’t change the way that the family office invests, the way it invests “becomes the attraction"... With an operator's mindset and a generational lens, we invest using a thematic approach, guided by market insights and an experienced team to select long-term trends. The Victor Smorgon Partners Global Multi-Strategy Fund provides wholesale investors with the exclusive opportunity to invest with the Victor Smorgon Group. https://lnkd.in/gPZRGkvR

Earlier this week we had the opportunity to participate in The Inside Network's Investment Leaders Forum in Queenstown NZ, providing a valuable chance to exchange ideas with fellow industry leaders. During the two-day event, Exec Chair, Peter Edwards led a fireside chat on ‘Golden Future: Commodities, Decarbonisation, and Macro Tailwinds’, sharing insight into the Group’s family office history, key investment themes, and future outlook for the Victor Smorgon Partners Global Multi-Strategy Fund. Thanks to The Inside Network for hosting a dynamic and engaging forum and we look forward to participating in future events. Joseph Sitch Matt Unsworth (GAICD)

The Victor Smorgon Partners Global Multi-Strategy Fund delivered another exceptional return of 19.8% in FY24. The portfolio strategies have delivered an annualised return of 38.6% since their January 2019 inception. By investing in companies that are currently producing cashflow, and are backed by real assets, the Global Multi-Strategy Fund has been able to generate a net return of 19.8% in FY24, despite operating in a higher interest rate environment. The Fund continues to invest in companies that are leveraged to secular trends across capital markets, decarbonisation and de-dollarisation, and is positioned to perform under multiple economic scenarios.   Looking forward, the Global Multi-Strategy Fund is continuing to build out its emerging markets thesis, notably around Indian equities following our recent trip to the region. A pull-back in energy prices, particularly natural gas, has presented an opportunity to increase the Fund’s weighting in natural gas explorers and producers, in anticipation of a looming structural supply deficit amidst increasing demand for natural gas as an energy source. Read more about the implications of this in the below Q4 FY24 report.   The Q4 FY24 report includes insight into the funds FY25 outlook, and commentary on the funds performance from Peter Edwards, Executive Chair of Victor Smorgon Group and Co-CIO of the Fund, and Joseph Sitch Co-CIO. To read more about the Victor Smorgon Partners Global Multi-Strategy Fund, visit our website: victorsmorgongroup.com.au

Historically, US elections have not had a significant or immediate impact on gold’s performance. Instead, it is the economic policy of any given president which is ultimately more relevant to the performance of financial assets, including gold. As a result, if Trump is re-elected, it could have a complex impact – potentially driving gold prices higher due to increased market volatility, geopolitical tensions and inflation expectations. However, it’s not only the US election activity that could influence the price of gold as we are already seeing strong momentum – and the big question on investors’ minds is whether the gold price can continue to appreciate. Our view is that there is potential for significantly more price appreciation, given the strong fundamentals driving the gold price, and a 5 to 10 per cent allocation of gold in a diversified portfolio of assets will provide superior risk-adjusted returns with lower volatility over time. Read Gold Portfolio Manager Cameron Judd’s full article in The Weekend Australian today.

Victor Smorgon Partners’ Global Multi-Strategy Fund is now accessible on the Praemium platform, in addition to the Netwealth, Powerwrap, HUB24 and Mason Stevens platforms, offering more wholesale investors access to the Global Multi-Strategy Fund. To find out more about why the Global Multi-Strategy Fund is our most popular fund visit our website: https://lnkd.in/gPZRGkvR

Featured in The Australian, Ben Salter, Victor Smorgon Group Portfolio Manager for Developing Mining & Decarbonisation, discusses the copper and lithium markets, and the role that they continue to play in the energy transition.  Through the Victor Smorgon Partners Global Multi-Strategy Fund, Victor Smorgon Group’s preference is to focus on investments in sectors with strong long-term fundamentals, which are present in both the lithium and copper sectors. Typically, we look for long-life, low-cost projects or ­operations that have optionality for future growth. Geographic­ ­location is key – an asset in a stable jurisdiction will always be more valuable than its equivalent in a more volatile region. Lastly and perhaps most importantly, we seek management teams with experience who will drive outcomes for all their stakeholders.

As reported in The Australian Financial Review, Victor Smorgon Group, through the Victor Smorgon Partners Global Multi-Strategy Fund, has invested in Vulcan Energy Resources Limited (VUL). This move aligns with the Group's decarbonisation strategy, targeting sectors with strong projected demand and likely supply constraints. The investment will support the global lithium value chain and the construction of Phase One of Vulcan's integrated renewable energy and ZERO CARBON LITHIUM Project in Germany. Peter Edwards, Joseph Sitch, Ben Salter, Cameron Judd, James Orloff, Glenn Poswell, David Leeton, Chris O'Byrne, Joshua Antico, Stella Green, Nick Joel

Peter Edwards, Victor Smorgon Group's Executive Chair features in the Financial Review's Fundie Q&A today, discussing the Victor Smorgon Partners Global Multi-Strategy Fund and the stocks fuelling the Fund's 22.6% return this financial year. The Fund invests thematically across Gold, Automation, Decarbonisation and Emerging Markets, with these themes being driven by de-dollarisation, geopolitical realignment, and critical mineral supply deficits. These are secular trends which the Fund anticipates will drive outsized returns. Joseph Sitch Cameron Judd Ben Salter Joshua Antico Nick Joel Stella Green