Investing for strong, long term capital growth requires a strategy that invests in stocks that are fundamentally healthy, that can ride out short term volatility and deliver strong capital appreciation over the long-term. We do this by investing in the numbers – applying our quantitative methodology to construct a portfolio of liquid Stock Doctor Star Growth Stocks. These are among the most financially healthy, high quality growth stocks on the ASX that deliver strong long-term capital returns – a great outcome for investors and SMSFs.
By Tim Lincoln Managing Director and Chief Investment Officer
As of 6 May 2025
Our recent underperformance was a result of prioritising the protection of client funds during a period of extreme market dislocation. Markets moved sharply and unexpectedly, but we remained comfortable with our defensive stance. Over the March quarter, the Fund completed its exit of our remaining position in the equity hedge vehicle, BBOZ, transitioning to being fully invested in Australian equities. We are now well-positioned to work our way back toward outperformance by remaining true to our quantitative, data-driven methodology and our core belief in blocking out market noise and embracing volatility as an opportunity.
The implications for corporate and economic growth following the Trump administration’s announcement of the new tariff, have become increasingly uncertain. Escalating trade tensions and rising interest rates have weighed on both business and consumer confidence, prompting management teams to take a more cautious approach and offer limited forward guidance. Despite this challenging environment, the Lincoln Australian Growth Fund outperformed its benchmark, a notable achievement given its growth-oriented investment style. The Fund’s substantial allocation to gold mining companies was the key driver to this outperformance.
Looking forward, we anticipate continued volatility as the U.S. – China tariff dispute intensified in April. There is no doubt that the implementation of bilateral tariffs will create a huge amount of complexity and a whole lot of noise with regards to the underlying implication for domestic and global economic growth. While our base case is that rational policy will be the eventual outcome, our approach during the volatility will be to block out the hypothetical analysis and focus on the quality fundamentals of companies in our portfolio. We remain confident in our investment process and the resilience of the companies in our portfolio.
For more information, please contact our Fund Team on 1300 676 333
All Lincoln Indicators Managed Funds are carefully structured to offer investors peace of mind regarding the security of their investments. While the value of investments can fluctuate, we focus on investing in financially stable companies with a low risk of failure. Additionally, we ensure that all client investments are held in a segregated trust with our trusted custodian, J.P. Morgan Chase Bank. As a further safeguard, we are regulated by the Australian Securities and Investments Commission (ASIC), and we adhere to stringent regulatory requirements that clearly define our operations and limitations.
| Investment Type | Wholesale | Retail |
|---|---|---|
| Minimum suggested timeframe | 5 years | 5 years |
| Minimum initial investment | $250,000 | $5,000 |
| Minimum additional investment | $5,000 | $1,000 |
| Management fee (p.a) | 0.76% | 1.40% |
| Performance fee (p.a.) | 20% of outperformance of the benchmark | 20% of outperformance of the benchmark |
| Entry/exit fee | Nil | Nil |
| Minimum withdrawal | $1,000 | $1,000 |
| Minimum balance | $250,000 | $5,000 |
| Minimum savings plan contribution (optional) | $250 per month | $250 per month |
| Buy/sell spread | 0.25% / 0.25% | 0.25% / 0.25% |
| Distribution frequency | 6 monthly | 6 monthly |
| Commencement date | January 2005 | June 2007 |
No, the Growth Fund has no minimum investment timeframe and you will not be penalised if you decide to redeem your funds within a short period of time. But we suggest a minimum of 5-years to allow an adequate timeframe for the Fund to deliver on its long-term objectives.
The performance fee is 20% of the amount by which the Fund’s performance exceeds the All Ordinaries Accumulation Index. A high-water mark ensures investors do not pay fees until periods of underperformance are fully recouped.
No, our Growth Fund have no up-front or exit fees. This does not take into account buy-sell spreads, which represent the estimated transaction costs incurred when buying or selling underlying assets in relation to investment options. The difference between the investment option buy prices and the sell prices is the total buy-sell spread for that option.
Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Lincoln Australian Growth Fund, Lincoln Australian Income Fund, Lincoln U.S. Growth Funds (“the Fund”). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This website has been prepared by Lincoln Indicators to provide you with general information only. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither Lincoln Indicators, Equity Trustees nor any of its related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product.
Lincoln’s Fund’s Target Market Determination is available here. A Target Market Determination is a document which is required to be made available from 5 October 2021. It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.
To discuss the future of your investments in detail, book in a free consultation with a Lincoln representative.
To discuss the future of your investments in detail, book in a free consultation with a Lincoln financial expert.
