• Overview
• Offer Documents
• About Epoch
• Research & Ratings
• Performance
• Unit Prices & Distribution
• How to Invest

 

The Investment Manager

Epoch Investment Partners, Inc (“Epoch”) was established in April 2004 by four experienced professionals. Epoch believes that a paradigm shift is taking place in the sources of return for investors in global equity markets and that the key to producing superior risk adjusted returns will be to focus on free cash flow, instead of traditional valuation measures such as Price-to-Earnings or Price-to-Book ratios. Epoch focus on companies generating free cash flow run by management committed to deploying that cash flow for the benefit of shareholders through dividends, share repurchases and debt reduction. Epoch define these uses of free cash flow (dividends, share buybacks and debt reductions) as “Shareholder Yield”.

The Funds

Grant Samuel Epoch Global Equity Shareholder Yield Funds offer a globally diversified equity portfolio consisting primarily of listed global companies that have a history of attractive dividend yields and positive growth in free cash flow. One fund is hedged, the other is unhedged. The Hedged Fund gains exposure to global equity markets by investing its assets in the Unhedged Fund.

Investment Objective

The Funds’ goal is to generate superior risk adjusted returns with a dividend yield that exceeds the dividend yield of the MSCI World ex Australia Index in $A, Net Dividends re-invested, for the Unhedged Fund and the MSCI World ex Australia Index Net Dividends re-invested, 100% hedged into $A for the Hedged Fund.

 

Documentation

IMPORTANT INFORMATION

Grant Samuel Fund Services Limited ABN 48 129 256 104 AFSL 321517 (Grant Samuel Funds Services) is the responsible entity of the Grant Samuel Epoch Global Equity Shareholder Yield (Hedged) Fund ARSN 130 358 440 and Grant Samuel Epoch Global Equity Shareholder Yield (Unhedged) Fund ARSN 130 358 691 (collectively, the Funds). and is the issuer of this information. Both Funds are registered as managed investment schemes under the Corporations Act 2001 (Cth). Grant Samuel Funds Services has appointed Epoch Investment Partners, Inc. as the investment manager of each Fund. Class A Units in each Fund are available for issue by Grant Samuel Funds Services, as responsible entity of the Funds. This information has been prepared as general information only without taking account the objectives, financial situation or needs of individuals. Before making an investment decision in relation to a Fund, investors should consider the appropriateness of this information, having regard to their own objectives, financial situation and needs. Prospective investors should read and consider the product disclosure statements for the Funds dated 18 September 2012 and the Additional Information to the Product Disclosure Statement. Copies of these documents can be obtained by contacting Grant Samuel Funds Management on (02) 9324 4356 or from this website. Applications to invest in the Funds must be made on the application form which can be downloaded from this website or obtained by contacting Grant Samuel Funds Management on (02) 9324 4356.

Offer Documents

The Grant Samuel Epoch Global Equity Shareholder Yield Funds

Retail investors may invest in the Funds through a licensed financial adviser or an investment platform using the Product Disclosure Statement for that platform which can be obtained from the operator of the platform.

Grant Samuel Epoch Global Equity Shareholder Yield Hedged Fund Product Disclosure Statement	Grant Samuel Epoch Global Equity Shareholder Yield Unhedged Fund Product Disclosure Statement

The PDS contains a number of references to important information contained in the Additional Information to the Product Disclosure Statement which forms part of the PDS. You should read this information together with the PDS before making a decision to invest into a Fund.

 

Please click on the link below to view a copy of the Additional Information to the Product Disclosure Statement.

Additional information to the Product Disclosure Statement

Please click on the link below to download the Application Form booklet	Please click on the link below to download the Withdrawal Form for the Funds
Application Form	Withdrawal Form

About Epoch

Epoch is a New York based US and global equity investment manager formed in 2004 by four experienced professionals who foresaw a significant change in the drivers of investment returns. Three of the founders, Bill Priest, David Pearl and Tim Taussig continue to lead the firm today. Bill Priest Epoch’s CEO and co- CIO, is an industry veteran with more than 45 years investment experience.

Epoch believes that a paradigm shift is taking place in the sources of return for investors in global equity markets and that the key to producing superior risk adjusted returns will be to focus on free cash flow, instead of traditional valuation measures such as Price-to-Earnings or Price-to-Book ratios. Epoch focus on companies generating free cash flow run by management committed to deploying that cash flow for the benefit of shareholders through dividends, share repurchases and debt reduction. Epoch define these uses of free cash flow (dividends, share buybacks and debt reductions) as “Shareholder Yield”.

A fundamental belief at Epoch is that their products should have small teams of investment professionals managing a strategy, but with one individual ultimately responsible for the performance of the portfolio. Supporting that person is the entire research team effort of the firm. Epoch’s Head of the Quantitative Research & Risk Management group is also a co-portfolio manager on all their funds which highlights the importance of risk management and quantitative input into their investment process.

Epoch Articles

CEO and Co-CIO Bill Priest, an industry veteran with more than 45 years investment experience has a long history of providing timely perspectives on investment issues. We encourage you to peruse not only his recent research papers, but also those of other members of Epoch's investment personnel (who average over 20 years investment experience) which are available on their website www.eipny.com. We feature some of these papers below, click on the thumbnails to read them in full.

 

Dividend strategies are regaining popularity In the attached paper titled “Dividends: Beautiful, and Sometimes Dangerous,” Global Equity Shareholder Yield Portfolio Managers Bill Priest, Eric Sappenfield and Michael Welhoelter, say that pursuing dividend yield alone can lead to poor results. Investors need to understand a company’s sources of cash and should view cash dividends, share buybacks and debt repayments collectively in assessing management’s strategy to create shareholder value. Click on the thumbnail to read the paper in full.

Fund Ratings

The Grant Samuel Epoch Global Equity Shareholder Yield Funds have been reviewed by the following Research Houses. Please note that ratings reports are intended for financial advisers only.

*Lonsec Managed Funds Research provides independent research in managed funds to the Australian financial planning community.
"The Recommended rating indicates that Lonsec has conviction that the fund or product can achieve its objectives and, if applicable, outperform peers over an appropriate investment timeframe. The manager or product has a number of competitive advantages in people, process and product design. The investment is a recommended entry point to access this asset class or strategy."  Financial Advisers who wish to request a copy of Lonsec’s Review of the Grant Samuel Epoch Global Equity Shareholder Yield Fund please click on the link below:
clientservices@grantsamuelfunds.com.au

#Zenith Investment Partners provides independent investment research services to financial advisers and other investment product providers.
Zenith Investment Partner’s Product Assessment specifically addresses a qualitative assessment of the fund manager’s investment process, security selection, portfolio construction, risk management, applications of the fund and quantitative assessment of absolute and relative performance, consistency and risk adjusted performance. To access the Zenith review of the Funds click on the links below.
Grant Samuel Epoch Global Equity Shareholder Yield Fund (Unhedged) Product Assessment Report
Grant Samuel Epoch Global Equity Shareholder Yield Fund (Hedged) Product Assessment Report

*The Lonsec Limited (“Lonsec”) ABN 56 061 751 102 rating (assigned January 2013) presented in this document is limited to “General Advice” and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec receives a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.

#The Zenith Investment Partners (“Zenith”) ABN 60 322 047 314 rating (assigned 21 September 2012) referred to in this document is limited to €General Advice€ (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.

Performance

Grant Samuel Fund Services Limited ABN 48 129 256 104 AFSL 321517 (Grant Samuel Funds Services) is the responsible entity of the Grant Samuel Epoch Global Equity Shareholder Yield (Hedged) Fund ARSN 130 358 440 and Grant Samuel Epoch Global Equity Shareholder Yield (Unhedged) Fund ARSN 130 358 691 (collectively, the Funds). and is the issuer of this information. Both Funds are registered as managed investment schemes under the Corporations Act 2001 (Cth). Grant Samuel Funds Services has appointed Epoch Investment Partners, Inc. as the investment manager of each Fund. Class A Units in each Fund are available for issue by Grant Samuel Funds Services, as responsible entity of the Funds. This information has been prepared as general information only without taking account the objectives, financial situation or needs of individuals. Before making an investment decision in relation to a Fund, investors should consider the appropriateness of this information, having regard to their own objectives, financial situation and needs. Prospective investors should read and consider the product disclosure statements for the Funds dated 18 September 2012 and the Additional Information to the Product Disclosure Statement. Copies of these documents can be obtained by contacting Grant Samuel Funds Management on (02) 9324 4356 or from this website. Applications to invest in the Funds must be made on the application form which can be downloaded from this website or obtained by contacting Grant Samuel Funds Management on (02) 9324 4356.

Past performance information given in this document is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. None of Grant Samuel Fund Services Limited, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds.

Unit Prices & Distribution

The most recently available actual entry/exit prices are set out here. If unit prices are not available for today then the latest available prices will be displayed. Unit prices are usually calculated each business day and are not available for weekends and public holidays. The entry and exit prices you will receive if you were to apply for or redeem units in the Grant Samuel Epoch Global Equity Shareholder Yield Funds (the Funds) may differ from that shown above because the actual price will be calculated by reference to a different date. Your actual entry/exit price will be confirmed following any transactions on your units. Unit prices are provided for information purposes only. They are not an offer or recommendation to you to buy or sell units in the Funds, nor a solicitation for deposits or other business, whether directly or indirectly, in Australia or in any other jurisdiction. No promise or warranty is made or given with respect to the performance of the Funds. No promise or warranty is given and no liability is accepted for any inaccuracy, error or omission in this information. The entry/exit prices shown above do not take into account any entry fees or exit fees that may be payable upon entry to or exit from the Funds, and are expressed in Australian dollars.

Past performance information given on this page is given for illustrative purposes only and should not be relied upon as (and is not) and indication of future performance. None of Grant Samuel Fund Services Limited, its related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Funds or any particular returns from the Funds. This information is provided for persons in Australia only and is not provided for the use of any person who is in any other country.

How to Invest

Retail investors may invest in the Fund through a licensed financial adviser or an investment platform using the Product Disclosure Statement for that platform which can be obtained from the operator of the platform.

Platforms

The Funds are available on the following investment menus:

Class A Units	Unhedged	Hedged
Asgard eWRAP and Master Trust	Yes	Yes
AXA North	Yes	Yes
Beacon Investment and Superannuation Service	Yes	Yes
BT Wrap	Yes	Yes
Colonial FirstWrap	Yes
IOOF Wrap	Yes	Yes
Macquarie Wrap	Yes	Yes
MLC Wrap	Yes	Yes
Navigator	Yes	Yes
Netwealth	Yes	Yes
Oasis	Yes	Yes
Optimum Corporate Super and Optimum Personal Super	Yes
Platform One	Yes
SUMMIT	Yes	Yes
Suncorp WealthSmart®	Yes

Contact details

Business Development Team