Dear investor

This issue of the newsletter includes an update on the Fund’s portfolio and its performance for the quarter ended 30 September 2021. 

On 1 October the Fund closed to new investors and to additional applications from existing investors. The Fund will, however, continue to operate as normal. The Fund was delighted to welcome over $10m in new applications before close, with the Fund's balance sitting at $208.9m as at 30 September 2021.

I'm also pleased to share that the Fund donated $543k to Third Link portfolio charities last quarter, bringing our total donated since inception to $15.7m. Third Link is partnering with a group of funders to support a collective of youth-focused organisations working to improve the lives of high school students. We spoke with the General Manager of Together 4 Youth, Andrew Turvey, to find out more about the project.

Thank you for investing with Third Link and allowing your fees to make a difference.

Regards,
Chris Cuffe AO, Founding Director and Portfolio Manager
Third Link Investment Managers Pty Limited

Portfolio update

The objective of Third Link Growth Fund (“the Fund”) is to provide a well-managed investment in Australian listed shares. To achieve this, the Fund extensively invests with professional third party investment managers.

As at the end of September 2021, the portfolio was invested as below:

In the quarter to 30 September 2021, the Fund made an initial investment with Hamish Blanche (Netherfield) IMA. 

A description of each of the fund managers we invest with can be found on our website. Each of these managers rebates their management fees and performance fees, effectively meaning they are managing the assets of the Fund for free. It is through this extraordinary generosity, together with that of other service providers, that Third Link is able to make sizeable donations to the charitable sector without diluting the returns to investors from the Fund.

Fund performance

The aim of the Fund is to outperform, after fees and over rolling five year periods, the S&P/ASX 300 Accumulation Index¹. As at the end of September 2021 the Fund performance relative to the Fund benchmark was as below:

Figures greater than one year are expressed as annual compound returns. No allowance is made for tax. The benefits of franking credits from dividends received have not been included.

¹ The S&P/ASX 300 Accumulation Index covers the largest 300 shares listed on the Australian market. Being an accumulation index, it measures changes in both the value and income of the shares.

² February 2012 reflects the date when the Fund's investment strategy changed from multi-sector growth to Australian equities.

Together 4 Youth – a new collaboration to improve the lives of young people

It's often difficult for schools to evaluate external, non-academic programs' suitability or integrate them effectively amongst their school's existing offerings. A collective of youth-focused organisations is partnering with a group of progressive funders to simplify schools' choices and improve students' lives. Andrew Turvey, General Manager of Together 4 Youth, explains more.

An holistic approach combining both academic and non-academic support is imperative to develop well-rounded young people who will do well through their high school careers and into the world of work or further study. 

Despite its importance, there are numerous reasons why non-academic support is so under-resourced in many schools. Firstly, academic outcomes like NAPLAN and HSC results, not students' social and emotional learning or personal growth, are used to measure school success. In addition, and despite their best attempts, many schools find it near impossible to wade through the range of non-academic supplier offerings to find the best programs to help their students. They also lack the time or requisite skills to implement the programs properly.

Together 4 Youth (T4Y) is a new and unique group of evidence-based youth services providers who have come together to address this need. The collective comprises well-known charitable organisations including Australian Business and Community Network (ABCN), batyr, Beacon Foundation, Big Brothers Big Sisters, EdConnect, Helmsman Project, Mission Australia, Raise Foundation, Reach, Top Blokes and Youth Opportunities.

How it works
T4Y will help each school leadership team identify the best combination of non-academic youth services programs particular to their student needs from year 7 through to year 12. It will then oversee the coordinated implementation, ongoing management and evaluation of these programs, allowing schools to focus on their core business of teaching and learning and contributing to the achievement of excellent student outcomes. 

Collaborative funding model
This collaborative and bespoke approach to working closely with schools and service providers has never been implemented before in Australia. However, it has been enthusiastically embraced by our seed funding partners, including Third Link. We are grateful that these progressive funders recognise the potential for more significant impact through collaboration rather than funding multiple organisations working in isolation.  

Next steps
Thanks to our seed funding partners, T4Y has completed the preparatory work necessary to pilot our approach across several high schools in 2022. These pilots will allow us to build the research, evaluation and advocacy required to develop the program for future rollout.

The COVID-19 pandemic, lockdowns and lengthy spells of learning from home have compounded the need for holistic support for more students. A coordinated approach to support our young people's social and emotional well-being is more important than ever. 

T4Y looks forward to working with Third Link and the other seed funding partners and warmly welcomes enquiries from other funders who may be interested in supporting the initiative.

You can contact Andrew Turvey for more information at andrew.turvey@together4youth.org.au

Important Information: This information has been issued by Third Link Investment Managers Pty Ltd (Third Link), ABN 31 128 965 702, AFSL 321311 as investment manager of the Third Link Growth Fund (the Fund). This information provided is general information only. It does not constitute financial, tax or legal advice or an offer or solicitation to subscribe for units in the Fund. This information has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, you should consider the appropriateness of the information based on your own objectives, financial situation or needs or consult a professional adviser. There can be no assurance that the Fund will achieve its targeted rate of return and no guarantee against loss resulting from an investment in the Fund. All investments carry risks. Past fund performance is not indicative of future performance. Bennelong Funds Management Ltd (BFML), ABN 39 111 214 085, AFSL No. 296806 is the Responsible Entity for the Fund. Applications can only be made on the application form dated 1 December 2020 accompanying the Fund Product Disclosure Statement (PDS) dated 1 December 2020. Potential investors should consider the PDS and the Additional Information to the PDS (AIB) before deciding whether to invest, or continue to invest in the Fund. The PDS and AIB can be obtained from www.thirdlink.com.au or by contacting Third Link.

The privacy of your personal information is important to us. View our privacy policy.