The Wentworth Williamson Fund was founded with the aim of delivering strong returns by investing in Australian listed companies with a contrarian investment style. We resist crowd psychologies, regularly finding fertile ground for new investments in unpopular sectors and unloved companies.
We believe that a carefully constructed portfolio of between 10 and 25 well-understood investments trading below their intrinsic value gives The Fund the greatest opportunity of outperforming the market over the long term. Furthermore, this level of concentration allows each investment to have a meaningful impact on The Fund’s performance once the market recognises its true value.
Our investment philosophy is not benchmark cognisant and our portfolios would normally vary materially from the benchmark World Index. The Fund’s returns are therefore likely to deviate from those of the benchmark. Investors are reminded that given the long-term, contrarian, valuation-based investment philosophy, there will be times when the Fund will materially underperform its benchmark in the short-term in order to achieve its objective of long-term outperformance.