May 23, 2025
Author: Michael Evans - Director, Portfolio Manager
Click "Find Out More" to read the discussion paper.
February 19, 2025
“The investment team is high quality with long co-tenure and has an impressive performance track record. The qualitative and quantitative components of the process are highly repeatable and well-formulated.”
“The underlying strategy has achieved notable outperformance relative to the Benchmark across multiple timeframes.”
Lonsec Disclosure: www.lonsec.com.au/logo-disclosure/
February 10, 2025
The Quest Australian Equities Fund (APIR: ETL7652AU) and the Quest X20 Australian Equities Fund (APIR: ETL7425AU) have been added to Mason Stevens OCIO High Conviction List (HCL). The HCL represents Mason Stevens OCIO’s views on “the best managers in market across a full range of asset classes, segments and styles.”
“There are typically around 90 unique strategies on the list across all major asset classes, representing around 5% of available strategies in market.”
January 31, 2025
The Quest Ex20 Australian Equities strategy achieved its 8-year track record this month. To 31 January 2025, it returned +13.0% pa net of fees vs the benchmark return of +8.8% pa since inception on 5 January 2017. This equates to outperformance of +4.1% pa net of fees over this period.
November 19, 2024
The Quest Concentrated Australian Equities Fund (APIR: ETL7652AU) is now available to Financial Advisers and Consultants on the HUB24 Investment Choice and Super Choice Menus.
November 4, 2024
We are pleased to announce that Shishir Prajapati has joined Quest Asset Partners as a Senior Investment Analyst. Shishir is an experienced investment professional having worked previously at Audant Investments and Contango Asset Management.
Shishir will be responsible for providing Analyst coverage across Quest's Concentrated, Ex20 and Long Short Australian equities capabilities.
June 7, 2024
The Quest Concentrated Australian Equities strategy is now available as a unit trust (APIR: ETL7652AU) due to the growing demand for managed accounts from Financial Advisers and Consultants.
The underlying strategy has been managed successfully by the same investment team since inception on 9 February 2005, with a strong track record of outperformance over multiple time periods.
The PDS, Reference Guide and TMD can be found by clicking the link below.
April 30, 2024
The Quest Long Short Australian Equities Fund achieved its 4-Year Anniversary this month, returning +17.4% pa net of fees vs the S&P/ASX200 Accumulation Index return of +12.7% pa since inception on 30 April 2020 to 30 April 2024. This equates to outperformance of +4.7% pa net of fees over this period.
December 31, 2023
The Quest Ex20 Australian Equities strategy has gone through $50M FUM this month thanks to support from Financial Advisers, Consultants and wholesale clients.
To 31 December 2023, the model portfolio has outperformed the benchmark by +5.7% over 1 year, +5.9% pa over 5 years and +5.2% pa since inception on 5 January 2017 net of fees.
In October earlier this year, the model portfolio rating was upgraded by Lonsec to "Highly Recommended".
October 16, 2023
“The investment team possesses a long-standing working relationship, and during this time has accomplished a consistent and impressive track record.”
https://www.lonsec.com.au/logo-disclosure
October 12, 2023
Boss Energy has doubled since our purchases in 2022. After years of inaction, the uranium spot market has found buying from utilities, investors, ETF ‘s, miners and speculators. The uranium spot price has moved from US$20 per pound in 2017to above USD$70 today. Boss is about to recommence mining at Honeymoon in South Australia with first production early next year. Initial purchases in Boss at$2.15 compare to $4.50 per share today.
September 14, 2023
We are incredibly pleased that Quest Asset Partners has been announced as the Winner of the "Australian Equities SMAs" category at the Financial Newswire / SQM Research Fund Manager of the Year Awards 2023.
August 28, 2023
The Quest X20 Australian Equities Fund (APIR: ETL7425AU) and Quest Long Short Australian Equities Fund (APIR: ETL4748AU) are now available on the Powerwrap Private Wealth Account and Smartwrap Menus.
August 16, 2023
For the 2023 fund manager of the year awards with Financial Newswire, SQM Research has collated performance data on well over 10,000 active funds. As SQM Research is a believer in performance over time taking into account the risks, data was initially collated and sorted on an equal weighting combination of three-year annualised net returns and three-year sharpe ratios (risk adjusted returns). A final ten list of ten funds for each category was then derived. Data was collated through to 30 June 2023.
Finalists were then chosen from the top ten in each category based on the best Sharpe ratio. Quest Asset Partners is a Finalist in Australian Equities - SMAs.
August 3, 2023
Quest Asset Partners is thrilled to be ranked No.1 over 5 and 10 years in Morningstar’s Australian Equity Sector Institutional Survey for June 2023.
The survey comprises 65 and 59 managers respectively across Growth, Value, Blend and Index categories.
Quest outperformed the Morningstar Australia GR AUD Index by +3.9% pa over 5 years and +4.1% pa over 10 years to 30 June 2023.
Past performance provides no guarantee of future performance.
May 22, 2023
The Money Management 35th Annual Fund Manager of The Year Awards 2023 highlights the exceptional skills and talent of the industry’s most distinguished professionals and businesses across Australia.
Being named a finalist is considered a remarkable achievement in the financial services sector. In a highly competitive and evolving funds sector, recognition at this event cannot be underestimated. With a reputation built over decades, the Money Management Fund Manager of the Year Awards is the Australian standard for excellence for advisers, institutions, and investors.
Money Management editor Laura Dew said: “Thank you to everyone who submitted their nominations and well done to all of this year’s finalists.
“I hope everyone can join us in Sydney to celebrate on the night and recognise everybody’s achievements in the industry this year.
“After two virtual award ceremonies, it will be a great chance to celebrate and network with the great and good of fund management.”
Simon Wu, Head of Distribution at Quest Asset Partners, said that the team were humbled and pleased to be recognised as a finalist in the 35th Annual Fund Manager of The Year Awards 2023.
May 18, 2023
From humble beginnings in April 2020, the Quest Long Short Australian Equities Fund recently surpassed $100 million in FUM and established an all-important three-year track record.
The Fund returned 20.3% p.a net of fees since inception to 31 May 2023, 770bps ahead of the S&P/ASX 200 Accumulation Index return of 12.6% p.a. Fund performance has been driven by a broad range of long and short positions across the large, mid and small cap universe.
The Quest Asset Partners team would like to thank our loyal supporters who have backed the Fund over the past few years. We remain excited about the outlook and believe that equity market conditions are highly suited to actively managed long short strategies.
May 1, 2023
The Quest X20 Australian Equities Fund (ETL7425AU) is now available to Financial Advisers on the MyNorth Super, Pension and IDPS Menus.
March 3, 2023
"We hold a positive view of Quest's longstanding investment process and experienced investment team. Overall, we believe the Fund is well placed to deliver upon its objectives."
Process & Methodology - Zenith Investment Partners (zenithpartners.com.au)
January 19, 2023
The Quest Concentrated Australian Equities strategy has ranked 2nd over 5 years in the Australian Equity Blend category of the Morningstar Australian Institutional Sector Survey for November 2022.
Quest returned 12.2% pa over 5 years gross of fees, significantly outperforming the Morningstar Australia GR AUD Index return of 8.7% pa over 5 years.
November 28, 2022
Eddy Sunarto
Quest’s portfolio manager Richard Dixon explains that he typically chooses companies to short by identifying those with structural problems.
“Short position candidates would typically rate poorly on our measure of quality or value,” Dixon said.
“They would also be companies affected by such things as structural decline, an increase in competition, poor management, and weak financials.”
The Quest fund holds 30% of its fund in short positions and Dixon says this 130/30 strategy is very suited to the local market.
“The Australian market is 2 or 3x more concentrated than other global benchmarks,” Dixon explained.
“So the ability for a long-only manager to benefit from a meaningful underweight is very minimal.
“There is only 11 stocks in the ASX 200 that are greater than 2% where a long-only manager can get a meaningful underweight view, so by adding on the short extension and broadening the opportunity set, it just creates more opportunity to get additional alpha return.”
Click "Find out more" to the read the article.
October 25, 2022
"The Model Portfolio has achieved notable outperformance relative to the Benchmark across all timeframes."
October 25, 2022
"The investment team possess a long-standing working relationship, and during this time have accomplished a consistent and impressive track record."
October 25, 2022
"Lonsec considers Portfolio Manager Richard Dixon to be well-experienced and knowledgeable in managing long/short strategies. The strategy is based on a long standing investment process, supported by a stable and collegiate investment team."
October 17, 2022
The Quest Concentrated Australian Equities strategy has ranked 2nd over 3 years in the Australian Equity Blend category of the Morningstar Australian Institutional Sector Survey for August 2022.
Quest returned 12.6% pa over 3 years gross of fees, significantly outperforming the Morningstar Australia GR AUD Index return of 6.2% pa over 3 years.
August 29, 2022
The Quest X20 Australian Equities Fund (ETL7425AU) is now available to Financial Advisers and Consultants on the HUB24 Investment Choice and Super Choice Menus.
August 11, 2022
The Quest X20 Australian Equities Fund (ETL7425AU) is now available to Financial Advisers on the Netwealth platform. For assistance in setting up the Fund on a private menu, please contact Simon Wu on 02 9409 2308.
August 5, 2022
The Quest Concentrated Australian Equities strategy has ranked 3rd over 3 years and 2nd over 5 years in the Australian Equity Blend category of the Morningstar Australian Institutional Sector Survey for June 2022.
Quest returned 10.0% pa over 3 years and 11.0% pa over 5 years gross of fees, significantly outperforming the Morningstar Australia GR AUD Index returns of 4.0% pa over 3 years and 7.3% pa over 5 years.
July 12, 2022
The Quest Concentrated composite portfolio has finished well ahead of the S&P/ASX300 benchmark again in 2022.
The composite portfolio carries a maximum of 35 stocks with a 3 year tracking error of 4.7.
The pre fees result of -1% is ahead of the -6.8% by a hefty 580 bp.
July 5, 2022
The Quest Concentrated Australian Equities strategy has ranked 2nd over 3 years and 3rd over 5 years in the Australian Equity Blend category of the Morningstar Australian Institutional Sector Survey for May 2022.
Quest returned 14.3% pa over 3 years and 13.4% pa over 5 years gross of fees, comfortably outpacing the Morningstar Australia GR AUD Index returns of 8.6% pa over 3 years and 9.4% pa over 5 years.
June 23, 2022
"Zenith draws comfort from the solid underlying track record of the Portfolio Manager. Furthermore, we believe Quest employs a repeatable investment process, placing the Fund in a strong position to deliver upon its objectives."
"With over 26 years of investment experience, Richard Dixon is ultimately responsible for the Fund. Prior to joining Quest in February 2020, Dixon was the lead portfolio manager of an active extension long/short strategy at Antares Equities for 12 years, generating a solid performance track record. Zenith believes Dixon possesses the requisite experience and expertise to successfully manage the Fund."
Process & Methodology - Zenith Investment Partners (zenithpartners.com.au)
June 23, 2022
Alex Gluyas
Markets reporter
"Magellan has been a very successful short position for the fund over the past year. It was an unusual one for us as we were originally long Magellan as it had rated quite well in our quality assessment process. We decided to exit in mid-2021 due to increasing diversification away from the core business as well as prolonged underperformance, increasing competition and industry margin pressures.
We decided to buy back our short position recently as the company has started addressing some of these issues and has also implemented a buyback in an attempt to restore shareholder value. While Magellan is still dealing with numerous challenges which could see the share price fall further, we believe our short thesis has largely played out and decided to close the position."
Click "Find Out More" to read the article.
May 23, 2022
Director and Portfolio Manager, Michael Evans, discusses the events that have impacted the Australian equity market and how Quest has positioned portfolios against a backdrop of rising global risks.
May 5, 2022
Allkem Limited, previously Orocobre Limited, is one of three lithium producers in the Quest portfolio that have delivered excellent returns.
Our first purchase was in October 2012, nearly 10 years ago. At that time, Orocobre was trading at $1.70 per share and was capitalised at $200 million. Allkem now trades at $12.50 per share and is capitalised at $7.9 billion.
While it has been an eventful journey for investors, this investment has tapped into the reshaping of global battery technology providing our team with both financial gain and a lot of insight along the way
April 29, 2022
The Quest Long Short Australian Equities Fund has ranked 3rd out of 147 funds and was the top ranked long/short fund in what was a “torrid 12 month period” according to Mercer.
The Quest Long Short Fund return over 12 months to the end of March 2022 was 27.7% after fees which was well ahead of the benchmark gain of 15%. The since inception net return is 79.8% over 23 months.
The Fund will establish a two year record at the end of April 2022. The Fund is managed by Richard Dixon who has over 20 years of experience managing Australian equity long/short funds.
February 24, 2022
"With over 25 years of investment experience, Troy Cairns is ultimately responsible for the Fund. Cairns has been the lead portfolio manager of the strategy since inception, producing highly attractive absolute and relative returns."
Process & Methodology - Zenith Investment Partners (zenithpartners.com.au)
January 24, 2022
Quest have sold our holding in Sydney Airport. Sydney is to be privatised under a Scheme of Arrangement at a cash price of $8.75. The buyer is Sydney Aviation Alliance Pty. Ltd, a consortium including IFM Investors and Global Infrastructure Partners.
This is a significant deal valued in total at $23.6 billion. Our holding has been sold on market slightly below the bid price rather than awaiting formal deal close in March 2022. Sydney will be replaced in the S&P/ASX300 by biotech Telix Pharmaceuticals on 10th February 2022.
December 2, 2021
Quest Asset Partners have signed Simon Wu to join as Head of Distribution in January 2022. Simon is an experienced asset management professional having worked previously at Cooper Investors, Standard Life Investments / Aberdeen Asset Management, Antares Capital and Mercer.
Simon will be responsible for growing Quest's specialist Australian equities capabilities across wealth management, wholesale HNW and institutional clients. He will also be responsible for managed accounts, platforms and research and consultant relationships.
November 30, 2021
The Quest Long Short unit trust has now reached the $50 million milestone after receiving strong support from advisers. The Fund has grown from $14 million at the end of June 2021. Performance has been spectacular with a total after fees return of 73% in the 18 months since inception in May 2020. The Quest Long Short is available on a range of platforms including BT, Macquarie, Hub24 and Mason Stevens. Equity Trustees act as Responsible Entity for the Long Short Fund.
November 29, 2021
The Quest Concentrated and Ex20 Australian Equities SMAs are now available on the MyNorth platform in response to rapidly growing adviser demand for managed portfolios.
June 17, 2021
"With over 25 years of investment experience, Richard Dixon is ultimately responsible for the Fund. Prior to joining Quest in February 2020, Dixon was at Antares Equities where he was the lead for an active extension long/short strategy for 12 years, generating a solid performance track record. Zenith considers Dixon to possess the requisite experience and expertise to successfully manage the Fund."
Process & Methodology - Zenith Investment Partners (zenithpartners.com.au)
January 14, 2021
Tony Boyd
"Sydney-based fund manager Quest Asset Partners picked a good time to launch a long short fund.
It was April last year and the market was still reeling from the coronavirus crash that occurred in March.
Richard Dixon, the new portfolio manager of the Quest Long Short Australian Equities Fund, set the fund up for success by going overweight in stocks that did well as 2020 progressed.
The long positions included National Australia Bank, Kazia Therapeutics, Lendlease Corp, Corporate Travel Management, Aristocrat, Credit Corp, Mineral Resources and James Hardie.
On the short side, Dixon turned to some of the more obvious COVID-19 affected sectors including travel and tourism, energy and financials."
"Since inception on May 1 last year, the Quest Australian Equities Long Short Fund has returned 34.9 per cent, compared to 21.2 per cent for the S&P/ASX 200 Accumulation Index."
Click "Find Out More" to read the article.
November 9, 2020
Jonathan Shapiro
Senior reporter
"Pre-IPO investments and non-index bets have helped Quest deliver annualised returns of 11.2 per cent since inception, well above the 6.7 per cent return of the broader market.
And in one of the toughest years in the industry for over a decade, when Australian equity markets zigged, zagged and totally transformed, Quest's flagship fund is up 4.6 per cent.
That compares with a 10 per cent decline in the broader S&P/ASX 300 index. Over six months, the fund is up more than 25 per cent."
Click "Find Out More" to read the article.
February 23, 2018
Director and Portfolio Manager, Troy Cairns, discussing the Merck acquisition of Viralytics for $502M. The deal represents a 160 per cent premium to the average stock price over the past month. Quest Asset Partners initiated the position in Viralytics in 2014.
Click " Find Out More" to watch the video.
September 4, 2015
Sally Patten
"Quest's aversion to the top 20 companies has meant that the new listings market has proved a useful hunting ground. Not only are the companies smaller, but it is a way to find companies with strong growth prospects in a world that is characterised by low economic growth and low top-line growth.
Of the 100 initial public offerings that have appeared over the past two years, Quest has looked at 50 in detail and made 15 investments, including Amaysim, a mobile reseller, Cover-More, a travel insurance provider, Smart Group, a salary packaging company, and OzForex, a foreign exchange provider."
Click "Find Out More" to read the article.
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