Our Strategies

Investment Philosophy

We have a long only absolute return philosophy focused on income generation and the power of compounding. Combined with professional portfolio and risk management we aim to deliver outperformance with low volatility over the medium to long term.

Investment Process

Identification of quality assets and businesses that generate sustainable income is integral to the process. Through diversification and the ability to actively shift asset and sector exposures under varying investment environments the manager seeks to optimise risk/return and manage for lower volatility.

Macro-economic conditions are assessed to determine appropriate risk exposures.

The core part of a portfolio will comprise investment in traditional higher yielding sectors for income generation, including: property trusts, utilities, hybrid securities, corporate fixed interest and leading equities under buy & write protection. Trading activity may also support income generation.

At all times the manager seeks to add value through stock selection and from time to time identifies thematic or industry changes that present investment opportunities. Stocks are selected on their individual merits and fundamental value. We assess the business and earnings quality, financial flexibility, management, growth potential and risks.  Stocks are monitored for non-delivery of expectations and excessive overvaluation.

Investment Products

Kaplan’s absolute return investment approach is applied to the management of equities and interest rate benchmarked portfolios.

Kaplan’s Wholesale Investment Product Range:

Retail Investors can access Kaplan’s management capabilities through:

Investment Trusts for Wholesale Investors

Equities Fund
Absolute return focus over the medium to long term

Kaplan Charitable Equities Fund
Consistent income with modest growth

Kaplan Master Income Fund
Consistent income from high yielding securities

Pooled Super Trust (PST)
Absolute return focus over the medium to long term

Discrete Mandates

Portfolios designed to meet individual client requirements.

Read more about Discrete Mandates

Listed Investment Companies (LIC's)

Investment Manager for Ironbark Capital Limited (ASX code IBC)

Read more about LIC's

Latest Bulletins

  • Master Trust half yearly distributions to 30 June 2024 are Equities Fund (3.6416c), Charitable Equities Fund (1.605c), Master Income Fund (2.4241c). Distribution payment date is 19 July 2024.
  • Master Trust (Equities Fund, Charitable Equities Fund, Master Income Fund) annual tax statements for FY24 will be available towards the end of September.
  • An amendment to the Trust Deed for the Kaplan Master Trust was made to allow for eligible funds to apply the tax law applying to attribution managed investment trusts (AMIT). This law is currently applicable to the Equities Fund.
  • Financial Reports for the Kaplan Master Trust funds and Kaplan Pooled Superannuation Trust are available under Investment Reports.
  • The Kaplan Pooled Super Trust (PST) offers investors a tax exempt “Pension Unit”. The new PST PDS and application form is available on our website.
  • The unit registry requires investors to register first before they can "login" for online investor information. If you have not previously registered, simply click "register here" at the bottom of the Investor Login web page and follow the prompts for registration.