The Third Link Growth Fund (Fund) delivered a strong return of +15.7% after fees for the twelve months ending 30 September 2024. While this result fell short of the S&P/ASX 300 Accumulation Index benchmark, it remains a highly pleasing outcome for our investors. The Fund returned +6.2% for the quarter ending 30 September 2024, adding to its consistent performance. Notably, since its inception, the Fund has achieved an annualised return of +10.3%, outperforming the S&P/ASX 300 Accumulation Index. With its bias toward smaller and mid-sized listed companies, the Fund continues to demonstrate long-term resilience despite recent headwinds.
The Fund size at 30 September 2024 was $170.6m. All fees received from managing Third Link Growth Fund, net of fund expenses, continue to be donated to the charitable sector. Since inception, the Fund has donated $22.2m to thecharities we support, with the last quarter's donations being $334k.
In this quarter's newsletter, we visit charity partner batyr, who has marked World Mental Health Month with some meaningful connections.
Over the coming months you may see more of Third Link in your newsfeed as we consciously work to grow the size of the Fund. Every additional dollar in the Fund allows us to give more money to charity, a gentle reminder to investors (and your colleagues and friends) that the Fund is open to new or additional investments. We are pleased that over the long term, the Fund has outperformed its benchmark after fees, generating strong financial and social returns for our investors.
Thank you for continuing to make a difference in the community through your investment.
Regards,
Chris Cuffe AO
Founding Director and Portfolio Manager Third Link Investment Managers Pty Limited
The objective of Third Link Growth Fund is to provide a well-managed investment in Australian listed shares. To achieve this, the Fund extensively invests with professional third party investment managers.
As at the end of September 2024, the portfolio was invested as below:
A description of each of the fund managers we invest with can be found on our website. Each of these managers rebates their management fees and performance fees, effectively meaning they are managing the assets of the Fund for free. It is through this extraordinary generosity, together with that of other service providers, that Third Link is able to make sizeable donations to the charitable sector without diluting the returns to investors from the Fund.
The aim of the Fund is to outperform, after fees and over rolling five year periods, the S&P/ASX 300 Accumulation Index¹. As at the end of September 2024 the Fund performance relative to the Fund benchmark was as below:
Returns are calculated after fees have been deducted and assuming reinvestment of distributions. Figures greater than one year are expressed as annual compound returns. No allowance is made for tax. The benefits of franking credits from dividends received have not been included.
1. The S&P/ASX 300 Accumulation Index covers the largest 300 shares listed on the Australian market. Being an accumulation index, it measures changes in both the value and income of the shares.
2. February 2012 reflects the date when the Fund’s investment strategy changed from multi sector growth to Australian equities.
Investors should be aware that past performance is not indicative of future performance. Returns can be volatile, reflecting rises and falls in the value of underlying investments.
Sohn Hearts & Minds Conference
We are excited to offer Third Link investors an exclusive discount to attend the 9th Annual Sohn Hearts and Minds Conference in Adelaide. Join us on November 15 for a day filled with transformative insights and groundbreaking medical research, featuring leading fund managers and global thought leaders. Use the code HM1-THIRDLINK when you checkout to receive $1,000 off your ticket to attend.
Keyview Private Credit webinar
Chris and Alex Hone, Managing Partner at Keyview Financial Group, recently say down to unpack all things private credit. You can watch a recording of the webinar here.
Alternative Future Foundation Family Office IN-Day
Chris spoke on a panel session about seeding and partnering with fund managers. The Third Link Growth Fund has partnered and seeded various fund managers over the years. You can find out more about the Alternative Future Foundation and Sydney Alternative Investment Week here.
batyr marks World Mental Health Month with meaningful connections
batyr believes that every young person should have the opportunity to live a mentally healthy and fulfilling life. Through sharing lived experience stories and peer-to-peer education batyr is keeping young people from reaching the point of crisis, and changing lives.
Young people and their stories are at the heart of everything batyr does
batyr has now trained over 1300+ young people to safely and confidently share their personal experience with mental ill-health.
A key theme across many of these stories is the importance of meaningful connections in working towards and maintaining good mental health. These connections include those with loved ones, community, colleagues, to supports and services, connections to Country – and to yourself.
For World Mental Health Day on 10 October, batyr partnered with Mental Health Australia to share how meaningful connections have supported three batyr lived experience storytellers on the path to good mental health.
Important Information: This information has been issued by Third Link Investment Managers Pty Ltd (Third Link), ABN 31 128 965 702, AFSL 321611 as investment manager of the Third Link Growth Fund (Fund). This information provided is general information only. It does not constitute financial, tax or legal advice or an offer or solicitation to subscribe for units in the Fund. This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, you should consider the appropriateness of the information based on your own objectives, financial situation or needs or consult a professional adviser. There can be no assurance that the Fund will achieve its targeted rate of return and no guarantee against loss resulting from an investment in the Fund. All investments carry risks. Past fund performance is not indicative of future performance. Fundhost Ltd ABN 69 092 517 087, AFSL No. 233045 is the Responsible Entity for the Fund. Applications can only be made on the application form dated 30 June 2022 accompanying the Fund Product Disclosure Statement (PDS) dated 30 June 2022. Potential investors should consider the PDS and the Additional Information to the PDS (AIB) before deciding whether to invest, or continue to invest in the Fund.
