Ross Macmillan: Antipodes is a relatively new Sydney-based boutique fund manager that was established in 2015 and specialises in global equity investment. It manages the Antipodes Global Fund, a number of other trusts and a listed investment company. But for Morningstar, while Antipodes is new on the block, it has two outstanding characteristics that we believe will allow it to produce excellent returns in the future.

It has a perceptive and highly-skilled investment team. That investment team is led by Jacob Mitchell, who has over 20 years of experience investing in global equities. He is the founder of Antipodes. He is also the chief investment officer and managing director. Prior to founding Antipodes Jacob Mitchell was the deputy chief investment officer at Platinum, another major investor in global equities. Jacob Mitchell is supported by a highly talented team. He has two deputy portfolio managers and six highly-knowledgeable analysts that all combine produce some excellent ideas for the portfolio.

Ultimately, confidence is about the strength of the investment process. And Antipodes has a very strong investment process. It's well-structured and well-considered and combines qualitative filtering, analyst knowledge, and qualitative bottom-up fundamental research to produce a portfolio of quality, high-conviction positions.

The portfolio has a number of global stocks that would be well-known to many investors. They are such names as Cisco Systems, the car manufacturer Hyundai, and also included in top 10 holdings is the well-known electronics company Samsung. These are positions that are in the top 10 for Antipodes Global Fund. Investors should remember though that this a long/short fund and it has a maximum equity exposure, sometimes of up to 150 per cent. These all combine to produce a portfolio that is benchmark-agnostic, high-conviction, and combine both growth and value positions.

Important thing to remember about the portfolio is that the Antipodes investment team is focused on two key points. Firstly, they are looking for capital preservation. Secondly, they are looking for investment resilience. When they are looking for investment resilience, they are looking for positions that will give them multiple opportunities for that position to outperform. They are also looking for a margin of safety and that makes a very strong portfolio.

Far too many investors don't diversify their portfolio properly. They will invest in cash; they will invest in domestic equities; and they might even invest in property. But far too often they don't consider the benefits of global equities. Antipodes Global Fund is an excellent way for them to diversify. Global equities can quite often be producing capital appreciation and income in times when those other asset classes aren't providing those sorts of returns. It can be combined with a traditional value global equity manager or a global equity manager that provides more income. Antipodes Global Fund has many outstanding features that will help investors diversify and Morningstar awarded Antipodes Global Fund a Bronze rating, meaning that we believe that it will be capable of achieving outstanding returns in the future.