The Quest Australian Equities Concentrated Portfolio delivered a 3.7% pre fees return in fiscal 2016 which was ahead of the market return of 0.8%.
Quest has expanded the choice of platforms for our Separately Managed Account by adding Macquarie SMA to our range. The platform list now includes JB Were, Mason Stevens, Powerwrap, Hub 24 and Macquarie.
One of the challenging issues in funds management is the discovery and processing of information. Portfolio managers and analysts are subject to enormous flows of information and one of the skills required to succeed in funds management is the ordering, processing and discarding of ideas. Our view is that a great idea is rarely unique for more than a day. The information advantage can be as short as a few minutes.
Plumbing manufacturer Reliance Worldwide (RWC) closed the first day of trading at $2.95 after the offer was priced at $2.50 by joint lead managers JP Morgan and Macquarie Bank in late April 2016. Quest participated in this IPO, one of the few we have been attracted to in this IPO season.