Objective

The principal objective of the Mason Stevens Global Technology Managed Portfolio is to invest in a globally-orientated, concentrated portfolio of liquid, listed securities across selected technology sectors.

Mason Stevens Asset Management Pty Limited (MSAM) is the appointed Investment Sub-Adviser of the Managed Portfolio and is advised by Tekne Capital Management LLC (Tekne Capital Management), a US investment manager founded in 2012 by Beeneet Kothari. Tekne currently manages over US$500 million in total assets.

Key Features

Investment Objective Globally oriented, concentrated portfolio with a focus on liquid, listed securities that aim to achieve positive returns over a long-term investment time horizon.
Benchmark NASDAQ Composite Total Return Index (in AUD)
Inception 27 November 2019
Investment universe Listed securities and cash
Management fee 1.10% p.a.
Performance Fee 12.80% p.a.
Maximum number of investments Investment Sub-Adviser discretion, however, the Managed Portfolio is unlikely to exceed 25 securities.
Max-Min cash range 2-25%
Max individual security weighting 25%
Currency USD
Minimum initial investment USD50,000
Suggested investment timeframe 5+ years
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Availability Mason Stevens Global
Mason Stevens Super

As at 30 October 2020.

A solution for investors seeking:

A highly concentrated, globally-oriented portfolio of liquid, listed securities across selected technology sectors.
An active, high conviction, fundamentally managed portfolio, with a long-term investment strategy.
  • The portfolio focuses on three trends involving Digital Payments, the Internet, (specifically E-commerce and Media) as well as Software and the Cloud.
  • Focuses on high-quality businesses with the following characteristics: Growth, Profitability, Unlevered Balance Sheet and Category Leadership.
  • The securities and their weights in the Managed Portfolio reflect the current investment views and strategies of the Tekne Capital Management investment team.
  • Aims to avoid being reactive to short-term volatility but views short-term volatility as a potential opportunity.
  • Before you make an investment decision, it is important that you understand the risks that can affect your investment being able to meet its objective or retain value.
  • The risks that may impact the Managed Portfolio include, but are not limited to factors such as, market risk, company or security specific risk, and currency risk.
  • Please refer to the Investment Mandate for a full list of potential risks linked to the portfolio.

Growth of $100,000 since inception (27-Nov-19)

Past performance is not a reliable indicator of future performance

Benchmark is NASDAQ Composite Total Return Index (in AUD). Portfolio returns are calculated net of management, fees, but excluding any adviser fees from the Managed Portfolio’s inception date of 27 November 2020, and assumes reinvestment of all income (but not franking credits). Returns are based on the theoretical performance of a portfolio which implemented the Managed Portfolio from the inception date based on simplifying assumptions and stock weightings. Actual individual returns of each client’s portfolio will differ depending on factors such as date of initial investment, timing of transactions, contributions and withdrawals, fees and any customisations. Each client should also take into account their own taxation situations. All information provided in this Report is correct as at the date of this Report but without independent verification.

Portfolio Breakdown at 30/09/2020


1 month 3 months 6 months 1 year 3 years 5 years Since inception
Portfolio (net)1.21%15.39%62.09%0%0%0%87.45%
Benchmark-2.32%7.12%24.65%0%0%0%26.66%
Excess Return3.53%8.27%37.44%0%0%0%60.79%

Past performance is not a reliable indicator of future performance.

Benchmark is NASDAQ Composite Total Return Index (in AUD). Portfolio returns are calculated net of management, fees, but excluding any adviser fees from the Managed Portfolio’s inception date of 27 November 2020, and assumes reinvestment of all income (but not franking credits). Returns are based on the theoretical performance of a portfolio which implemented the Managed Portfolio from the inception date based on simplifying assumptions and stock weightings. Actual individual returns of each client’s portfolio will differ depending on factors such as date of initial investment, timing of transactions, contributions and withdrawals, fees and any customisations. Each client should also take into account their own taxation situations. All information provided in this Report is correct as at the date of this Report but without independent verification.

  • Sector

    • 55.72%
      Information Technology
    • 12.07%
      Consumer Discretionary
    • 29.82%
      Communication Services
    • 2.39%
      CASH

Past performance is not a reliable indicator of future performance.

  • Top Holdings


    Sea Limited
    ADYEN
    Square Inc
    Agora Inc
    BABA-SW

Past performance is not a reliable indicator of future performance.

About Tekne Capital Management

Tekne Capital Management is an investment partnership with a focus on securities and geographies where it has investment experience and a track record.

The team’s industry knowledge and investing pedigree enable them to assess opportunities where they believe there is a gap between market expectations and potential market outcomes.

Beeneet Kothari is the Managing Partner of Tekne Capital Management. Prior to founding Tekne, Beeneet was MD and Portfolio Manager at PointState Capital, a multi-billion-dollar global macro investment firm.

Prior to PointState, Beeneet was an MD and Portfolio Manager at Duquesne Capital, a firm founded by Stanley F. Druckenmiller.

At Duquesne, Beeneet managed a global technology, media and telecom portfolio, and helped manage the fund’s overall technology exposure. Prior to Duquesne, he was an investment banking analyst at Morgan Stanley.

Beeneet graduated from the University of Pennsylvania in 2004 with a joint degree in Management and Technology as well as a master’s in biotechnology.

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Disclaimer

This information is provided by Mason Stevens Limited (ACN 141 447 207, AFSL 351578) (Mason Stevens) as the Managed Discretionary Account (MDA) Provider. Content on this page is of a general nature and does not have regard to any individual’s personal objectives, financial situation and needs. Please seek specific advice and obtain a copy of the investment mandate before making a decision in relation to any investment. Information in this Report is provided in good faith. Whilst every effort is made to ensure the information is accurate at the time of sending, Mason Stevens does not make any representation or warranty as to its accuracy, reliability or completeness nor does it undertake to correct any information subsequently found to be inaccurate. Any information contained in this Report is subject to change without prior notice and Mason Stevens is not obliged to update any information. References made to any third party or their data is based on information that Mason Stevens believes to be true and accurate as at the date of this page but without independent verification.

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David Hewett

Managing Director, Private Investments

David joined Mason Stevens in 2011. He works with single and multi-family offices and private high net worth investors. His consultative approach enables his clients to make investment decisions based on insight, trust and intelligence. With more than 25 years’ finance experience, David has held senior executive roles within St George Private Clients, ANZ Private and ANZ Investment Bank. He holds a Masters of Business Banking and Finance and Graduate Diploma in Banking and Finance from Monash University.