Australian Value Opportunities Fund

Home » Introducing the Australian Value Equities fund

Our highest
conviction
opportunities across
the ASX 300

The Australian market has experienced two consecutive calendar years of strong growth

With many companies and sectors looking expensive from a valuation perspective, the question we often get is where are the opportunities in Australian equities?

The Australian equity market produced a slightly higher than average total return of 11% in 2024 when compared to a 10-year return of 8.5%. However, that number hides a huge difference across sectors. The “haves” were led by the technology sector which produced a total return of roughly 50%, followed by financials which were up over 30%. On the flipside, the energy and materials (led by resources) sectors both produced double digit negative returns. Interestingly, the 2024 returns were generally driven by a price earnings (PE) multiple re-rating rather than earnings growth. The chart below highlights this:

The Maple-Brown Abbott Australian Value Opportunities Fund

Targets an active share of over 75%, which tends to lower exposure to the top 20 stocks in the S&P/ASX 300 Index
Features a portfolio constructed with our highest conviction stock ideas managed on a benchmark unaware basis
Employs our value-based investment philosophy
Incorporates our views on environmental, social and governance (ESG) factors
Leverages over 40 years’ experience of value investing and managing Australian equity portfolios

Index returns from start of 2024

* Local currency return. † MAG 7 = MSFT, AAPL, NVDA, AMZN, META, GOOG, TSLA. ‡ SPX 493 = S&P500 excluding MAG 7. Source: Minack Advisors, compiled on 19 December 2024.

The chart shows the positive impact PE multiple expansion has played at driving equity market returns given expectations that easier monetary policy will be supportive of markets. The chart also highlights that Australia is the only market of the 12 listed above where strong market returns have been generated in conjunction with a decline in forecast earnings. We consider this is a highly unusual outcome and is primarily due to strong returns from the banks despite a backdrop of unchanged earnings expectations. The spread between the highest and lowest rated quintiles of industrial stocks are now well ahead of that seen during the COVID peaks (January 2025). The cheapest quintiles of Australian stocks have largely been ignored by the market with the lowest quintile of companies trading at PE multiples of around 10 times.

Overall, we believe that there are opportunities across various sectors of the Australian market. An experienced and skilled active manager with a focus on valuation can take advantage of these opportunities to deliver strong risk adjusted performance outcomes for investors in 2025 and beyond.

How does the Fund work with your clients’ portfolios?

For clients who have a heavy allocation to ASX top 20 stocks

The Fund allows investors to gain exposure outside the top 20 stocks in the S&P/ASX 300 Index while investing in our highest conviction opportunities.

To complement and diversify an existing Australian equities portfolio

The Fund may allow your clients to diversify an existing portfolio, particularly where they are looking for active management and the potential to outperform the S&P/ASX 300 Index. The number of holdings in the Fund and their respective weights are very different to the S&P/ASX 300 Index.

As a long-term holding

The Fund is likely to suit your clients who are long-term investors and believe in our value investment philosophy.

How is this fund different?

The Maple-Brown Abbott Australian Value Opportunities Fund (Fund) is a benchmark unaware Australian share portfolio consisting of our highest conviction opportunities (typically 25-40 stocks).

The Fund aims to outperform the S&P/ASX 300 Total Return Index, after fees, over a four-year period by selecting stocks we expect to deliver strong risk-adjusted long term returns from a broad universe of large, mid and small cap Australian companies.

By targeting an active share of more than 75% the Fund tends to limit exposure to ASX top 20 stocks relative to the S&P/ASX 300 Index. As a result, the Fund will typically have a higher exposure to mid-cap stocks relative to the S&P/ASX 300 Index. This can be a valuable source of diversification in client portfolios, particularly where ASX top 20-50 stocks are heavily represented.

Market capitalisation range of equity holdings (%)

Source: Maple-Brown Abbott, as at 28 February 2025.

Find out more

About the Maple-Brown Abbott Australian Value Opportunities Fund
About About Maple-Brown Abbott
About our Australian equities team
View our fund ratings and platform availability

Our latest Investment Insights:

Our investment approach

Using the Maple-Brown Abbott value-based approach, our Australian equity specialists conduct bottom-up research and in-depth quantitative and qualitative analysis to assess the true value of companies. This includes detailed financial forecasts and an assessment of management quality, industry structure and environmental, social and governance (ESG) factors.

We have developed our own approach to integrating ESG factors into the investment process across all our portfolios in the Australian equities strategy and have been recognised as a leader in this area, maintaining best-in-class assessments from local and global organisations.¹ Our approach includes proprietary frameworks and research, company engagement and proxy voting across all securities. We believe this ultimately leads to superior long-term returns for investors.

Investment Philosophy

	Value managers We believe the price and value of a company are often not the same and change over time. Greed and fear in markets can drive a wedge between these concepts at the stock level. With patience and discipline, we aim to take advantage of this phenomenon and only invest in a stock where we assess the discount to intrinsic value is sufficiently attractive.
	Contrarian Often taking a contrarian position, we invest in companies we believe are undervalued and will generate the strongest returns for investors. In regularly considering the unloved or unpopular segments of the market, we look at the narrative attached to these out-of- favour stocks. By researching these companies on a bottom-up basis (in conjunction with what prevailing valuations imply) we determine whether the narrative is correct or an opportunity exists.
	Bottom-up stock pickers We base our stock selection on in-depth analysis by our expert team of investment professionals. We use our bottom-up research process to maximise the opportunities to deliver income and long-term capital growth to our investors.
	Long-term investors We believe that while over the short term, price and value can diverge by a wide margin, over the long term, they are far more likely to converge. In our experience, we have found what drives this is more likely to be the passing of time as the ‘darling’ stocks fail to live up to expectations, while the ‘value’ parts of the market deliver better results than their share prices implied.

1 Maple-Brown Abbott became a signatory of the United Nations-supported Principles for Responsible Investment (PRI) in 2008. In our most recent PRI assessment we scored above the global median for each of our assessed modules. Our key asset class of listed equity (direct – active fundamental) was scored at 95 and awarded the highest possible rating of five stars. For full details please refer to our most recent PRI Assessment Report and Transparency Report. We were also identified as a Responsible Investment Leader by the Responsible Investment Association Australasia (RIAA) in their most recent Benchmark Report.

Disclaimer
This information is prepared and issued by Maple-Brown Abbott Ltd ABN 73 001 208 564, AFSL. 237296 (‘MBA’) as the Responsible Entity of the Maple-Brown Abbott Australian Value Opportunities Fund (‘Fund’). This page contains general information only, and does not take into account your investment objectives, financial situation or specific needs. Before making a decision whether to acquire, or to continue to hold an investment in the Fund, investors should obtain independent financial advice and consider the current PDS and Target Market Determination (TMD) or any other relevant disclosure document of those products. For the Fund, the PDS, AIB and TMD are available at maple-brownabbott.com/document-library or by calling 1300 097 995.

Fund rating

Current ratings

The Lonsec rating issued 10/2024 is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. ©2024 Lonsec. All rights reserved.

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned MPL1039AU June 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

Fund performance^

as at 31/03/2025

blank	1 mth %	3 mths %	Calendar year to date	1 yr % p.a.	2 year p.a.	3 yrs % p.a.	Since inception % p.a.*	asdate
Fund	-3.1	-0.4	-0.40	0.4	7.50	6.4	9.2	31/03/2025
Benchmark	-3.3	-2.9	-2.90	2.6	8.40	5.3	7.7	31/03/2025
Difference	0.3	2.5	2.50	-2.3	-0.90	1.1	1.5	31/03/2025

^Past performance is not a reliable indicator of future performance. No warranty can be given for future performance. Returns are volatile and may fluctuate quickly and significantly. Total return is based on the movement in net asset value per unit plus distributions and is before tax and after all fees and charges. Imputation credits are not included in the performance figures.
Source: Maple-Brown Abbott and S&P
* Inception date is 1 April 2021.

A team of experienced and dedicated
investment professionals.

Head of Australian Value Equities

Dougal Maple-Brown

BEc, LLB (Hons), FFIN, CFA
Dougal joined Maple-Brown Abbott in 2001 as an equity analyst. He is currently a portfolio manager and equities analyst. Dougal was an Executive Director from July 2009 to October 2018. Dougal’s responsibilities include equity analysis and portfolio management, including managing a large number of institutional and retail accounts. He attended the Advanced Management Program at Harvard Business School in 2014. Prior to joining Maple-Brown Abbott Dougal worked in a national law firm and at an international investment bank.

Board and committee membership:
Asset Allocation Committee

Chief Investment Officer

Garth Rossler

MCom, CA (SA), CFA
Garth joined Maple-Brown Abbott in 1997. He was appointed as Managing Director and Chief Investment Officer in July 2009, a position he held for over ten years until October 2019 when he stepped down from the Managing Director role. Garth continues in his role as the Chief Investment Officer and his responsibilities include equities analysis and portfolio management. He was an executive director from July 1999 to March 2020. Before joining Maple-Brown Abbott Garth was Director and Portfolio Manager at Allan Gray Ltd (South Africa).

Board and committee membership:
Asset Allocation Committee

Portfolio Manager, Australian Value Equities

Christopher Hotop

BSc, BComChris joined Maple-Brown Abbott in December 2013 as an Investment Analyst and is a Portfolio Manager in the Australian Value Equities team. Chris has stock coverage responsibilities for the utilities, infrastructure and consumer sectors. Before joining Maple-Brown Abbott, he spent eight years in the Australian equities team at CP2, where he covered a range of sectors including building materials, financials and retail for their high-conviction Endeavour Fund.

Portfolio Manager, Australian Value Equities

Kateryna Argyrou

BBus (Hons)
Kateryna joined Maple-Brown Abbott in July 2019 as an Investment Analyst and is a Portfolio Manager in the Australian Value Equities team. Kateryna is responsible for the REITs sector as well as some small cap coverage. Before joining Maple-Brown Abbott, Kateryna worked as a sell-side equities research analyst with Credit Suisse, covering the insurance and diversified financials sectors before leading the Australian Real Estate equities research team. Kateryna also has experience covering small cap stocks through her previous roles at Shaw & Partners and Baillieu Holst.

Board & committee membership:
Asset Allocation Committee

Portfolio Manager, Australian Value Equities

Jon Clarke

BSc, BCom
Jon joined Maple-Brown Abbott in November 2006 as an Asian equities dealer before becoming an Investment Analyst. He is a Portfolio Manager in the Australian Value Equities team. Jon is responsible for the resources, telecommunication, engineering and construction sectors. Before joining Maple-Brown Abbott, Jon worked at State Street for six years, starting as a quantitative analyst in the transition management team and then working in a trading role, which culminated in the position of Senior Trader.

Portfolio Manager, Australian Value Equities

Raymond Chang

BCom, CFA
Raymond joined Maple-Brown Abbott in January 2005 as an Investment Analyst and is a Portfolio Manager in the Australian Value Equities team. Raymond is responsible for the building materials, chemicals, packaging, gaming, transport and media sectors. Before joining Maple-Brown Abbott, he worked as a Strategy and Business Architecture Consultant at Accenture Australia.

Portfolio Manager, Australian Value Equities

Peter Reeve

BCom, BIT, MFin
Peter joined Maple-Brown Abbott in April 2006 as an Investment Analyst and is a Portfolio Manager in the Australian Value Equities team. Peter is responsible for the diversified financials and healthcare sectors and also manages the fixed income asset class. Before joining Maple-Brown Abbott, Peter worked as a Corporate Finance Analyst for IBM Australia.

Board & committee membership:
Asset Allocation Committee

Contact us

Vijay Srinivasan
Head of Intermediary Distribution
T +61 2 8226 6238
M +61 403 046 832
E vsrinivasan@maple-brownabbott.com

Sophie Metcalfe
Business Development Manager
T +61 2 8226 6220
M +61 477 613 853
E vsrinivasan@maple-brownabbott.com

Nicholas Parrottino
Business Development Associate
T +61 8226 6282
M +61 422 744 002
E nparrottino@maple-brownabbott.com

Simon Beram
Director, Distribution and Research
T +61 2 8226 6231
M +61 422 744 002
E sberam@maple-brownabbott.com

Alternatively, contact

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            Past performance is not a reliable indicator of future performance. Investment is subject to certain risks including the loss of capital invested. Unless otherwise stated, all figures and amounts displayed on this website are in Australian dollars. All asset values are based on our most recent valuations. As pricing frequencies and valuation methodologies differ for the various types of assets, the asset values shown may not be current and, therefore, you shouldn’t rely on them as the basis for trading investments in your account. Returns are volatile and may fluctuate quickly and significantly.
             
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            These Terms are governed by the laws applicable in the State of New South Wales, Australia and each party irrevocably submits to the non-exclusive jurisdiction of the courts of that State.
             
            Internet
             
            Errors, omissions, interruptions and delays of services may occur at any time on the internet as it is not a totally reliable or secure medium of communication. Maple-Brown Abbott accepts no liability for the consistency, security and confidentiality of any information sent over the internet and any transmissions over the internet are entirely at the user's risk.

           Acceptance of UCITS terms and conditions

            This section of the website (UCITS website) has been prepared by Maple-Brown Abbott Limited (ABN 73 001 208 564 AFSL 237296 ) (Maple-Brown Abbott or we) on behalf of Maple-Brown Abbott Funds plc (MBA Funds). The UCITS website is owned and operated by Maple-Brown Abbott. By accessing the UCITS website you agree to the following terms and conditions (the UCITS Terms) and acknowledge that you have read and understood them. In addition to these UCITS Terms, you agree that your access to this UCITS website is also subject to any other notices, disclaimers or statements contained on this UCITS website.
            
            Maple-Brown Abbott may make changes to the UCITS Terms from time to time without prior notice to you. By continuing to access the UCITS website, you are deemed to have accepted such changes and that Maple-Brown Abbott has no obligation to notify you of any such changes.
            
            Restrictions on information
            
            Access to the UCITS website may be restricted by law in certain jurisdictions. Neither Maple-Brown Abbott nor MBA Funds make any representation that the use of this information is permitted in locations other than Ireland or jurisdictions in which MBA Funds is registered for sale. 
            
            This information on the UCITS website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject Maple-Brown Abbott, MBA Funds or their associated parties to any registration or other requirement within that jurisdiction or country.
            
            When using the UCITS website, you are responsible for complying with all applicable local, national and international laws and regulations, including those related to data privacy and intellectual property.  It may be illegal to access or download the information contained in the UCITS website in certain jurisdictions and we disclaim all responsibility if you access or download any information in breach of any law or regulation applicable to you or in the place that you access the UCITS website.
            
            No U.S. Persons
            
            The information on this UCITS website is not available to US persons, as defined under Regulation S of the U.S. Securities Act of 1933, as amended (US Person). As such by accepting these UCITS Terms you represent and warrant that you: (i) are not a US Person; (ii) are not acting on for the account or benefit of any US Person; and (iii) will not provide or otherwise make available any information herein to any US Person.
            
            Limit of liability
            
            The information is believed to be accurate at the time of compilation and is provided by Maple-Brown Abbott and MBA Funds in good faith. However, the use of the UCITS website is at your sole risk. Neither Maple-Brown Abbott nor MBA Funds make any representation or warranty as to the quality, completeness, accuracy, reliability, timeliness or currency of information contained in the UCITS website.
            
            To the full extent permitted by law, Maple-Brown Abbott, MBA Funds and their associated parties exclude all liability for any direct or indirect loss or damage arising in any way from errors or omissions in the information in the UCITS website, and exclude all responsibilities for any direct or indirect loss or damage arising in any way as a result of any person using the UCITS website or relying on, using or downloading anything from the UCITS website.
            
            Liability for negligence, breach of contract, or contravention of any law as a result of a failure to provide this information, or any part of it, or for any problems with this information, which cannot be lawfully excluded, is limited, at Maple-Brown Abbott’s and/ or MBA Funds’ option, and to the maximum extent permitted by law, to resupplying this information or any part of it to you, or paying for the resupply of this information or any part of it to you.
            
            Errors, omissions, interruptions and delays of services may occur at any time on the internet as it is not a totally reliable or secure medium of communication. Maple-Brown Abbott and MBA Funds accept no liability for the consistency, security and confidentiality of any information sent over the internet and any transmissions over the internet are entirely at the user's risk.
            
            Current Prospectus
            
            The provision of material on the UCITS website is not an invitation to enter into any legal agreement of any kind. No statement or information in the UCITS website constitutes an offer, recommendation, invitation to invest in any investments, securities or financial products of MBA Funds.
            
            Should you wish to invest directly in a MBA Funds financial product referred to in the UCITS website you must only do so on the basis of a current prospectus (including any addenda thereto), application form and key investor information document (KIID) either downloaded from the UCITS website or provided by us in hard copy form.
            
            No guarantees or financial advice
            
            This UCITS website provides general information about MBA Funds only, it does not provide any financial product or investment advice. It should not be construed as a recommendation to invest in any particular financial product on the UCITS website. 
            
            Neither Maple-Brown Abbott, MBA Funds nor their associated parties make any representation nor give any guarantee as to the future performance or success of, the rate of income or capital return from, recovery of money invested in, or income tax or other taxation consequences of, any financial product shown on this UCITS website. Investment is subject to certain risks. Possible risks could include delays in repayment and loss of income or capital invested. 
            
            This UCITS website does not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making investment, financial or other decisions. We do not give advice in relation to any particular investment, security or financial product offered by MBA Funds or any associated parties. Before making an investment decision, you should obtain and consider the relevant prospectus (including any addenda thereto) and KIID, and you should seek independent advice and consider whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. 
            
            Past performance
            
            Past performance is not a reliable indicator of future performance. Investment is subject to certain risks including the loss of capital invested. All asset values are based on our most recent valuations. As pricing frequencies and valuation methodologies differ for the various types of assets, the asset values shown may not be current and, therefore, you shouldn’t rely on them as the basis for trading investments in your account. Returns are volatile and may fluctuate quickly and significantly.
            
            Changes in exchange rates may have an adverse effect on the value price or income of a sub fund of MBA Funds or any class thereof.
            
            Market highlights
            
            The views expressed in any articles are the author’s alone. They should not be otherwise attributed. These views are current as at the date of production and can change day to day. Maple-Brown Abbott and/or MBA Funds may or may not hold securities mentioned. 
            
            Intellectual property rights, trademarks and copyright
            
            Copyright, trademarks, intellectual property rights, database rights and all similar rights in this UCITS website and the information contained in it are owned by Maple-Brown Abbott, MBA Funds or their associated parties. You may use the information on this UCITS website and reproduce it in hardcopy for your own personal reference only provided that you do not remove any copyright notices, disclaimers or any Maple-Brown Abbott trademarks or logos. Except for this purpose or as permitted by law, none of the information on this UCITS website may be reproduced, adapted, uploaded to a third party, linked to, framed, performed in public, distributed or transmitted in any form by any process without the express written consent of Maple-Brown Abbott or, in the case of third party material, from the owner of the copyright in that material.
            
            Links to and from other websites
            
            The UCITS website may contain links to other websites. Neither Maple-Brown Abbott, MBA Funds, nor any associated party make any representation or warranty as to the accuracy, quality, currency or any other aspect of the information contained in those linked websites. A link to another website is not and should not be construed as an endorsement or recommendation by Maple-Brown Abbott, MBA Funds or any associated party of the goods or services offered on that other website or the information contained in that other website. You agree that you will not create any link to any page within the UCITS website without Maple-Brown Abbott's express written permission.
            
            Privacy, records and cookies
            
            You authorise us to keep records of your access to the UCITS website and to utilise cookies, including placing cookies on your computer, during your access to the UCITS website.
            
            You acknowledge and agree that the collection, disclosure, processing and/or use of information about you from accessing the UCITS website will be subject to the Data Privacy Statement.
            
            Governing law
            
            These UCITS Terms are governed by the laws applicable in Ireland and each party irrevocably submits to the non-exclusive jurisdiction of the courts of Ireland.
            
            Internet
            
            Errors, omissions, interruptions and delays of services may occur at any time on the internet as it is not a totally reliable or secure medium of communication. Maple-Brown Abbott and MBA Funds accept no liability for the consistency, security and confidentiality of any information sent over the internet and any transmissions over the internet are entirely at the user's risk.

            Acceptance of UCITS terms and conditions

            This section of the website (UCITS website) has been prepared by Maple-Brown Abbott Limited (ABN 73 001 208 564 AFSL 237296 ) (Maple-Brown Abbott or we) on behalf of Maple-Brown Abbott Funds plc (MBA Funds). The UCITS website is owned and operated by Maple-Brown Abbott. By accessing the UCITS website you agree to the following terms and conditions (the UCITS Terms) and acknowledge that you have read and understood them. In addition to these UCITS Terms, you agree that your access to this UCITS website is also subject to any other notices, disclaimers or statements contained on this UCITS website.
            
            Maple-Brown Abbott may make changes to the UCITS Terms from time to time without prior notice to you. By continuing to access the UCITS website, you are deemed to have accepted such changes and that Maple-Brown Abbott has no obligation to notify you of any such changes.
            
            Restrictions on information
            
            Access to the UCITS website may be restricted by law in certain jurisdictions. Neither Maple-Brown Abbott nor MBA Funds make any representation that the use of this information is permitted in locations other than Ireland or jurisdictions in which MBA Funds is registered for sale. 
            
            This information on the UCITS website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject Maple-Brown Abbott, MBA Funds or their associated parties to any registration or other requirement within that jurisdiction or country.
            
            When using the UCITS website, you are responsible for complying with all applicable local, national and international laws and regulations, including those related to data privacy and intellectual property.  It may be illegal to access or download the information contained in the UCITS website in certain jurisdictions and we disclaim all responsibility if you access or download any information in breach of any law or regulation applicable to you or in the place that you access the UCITS website.
            
            No U.S. Persons
            
            The information on this UCITS website is not available to US persons, as defined under Regulation S of the U.S. Securities Act of 1933, as amended (US Person). As such by accepting these UCITS Terms you represent and warrant that you: (i) are not a US Person; (ii) are not acting on for the account or benefit of any US Person; and (iii) will not provide or otherwise make available any information herein to any US Person.
            
            Limit of liability
            
            The information is believed to be accurate at the time of compilation and is provided by Maple-Brown Abbott and MBA Funds in good faith. However, the use of the UCITS website is at your sole risk. Neither Maple-Brown Abbott nor MBA Funds make any representation or warranty as to the quality, completeness, accuracy, reliability, timeliness or currency of information contained in the UCITS website.
            
            To the full extent permitted by law, Maple-Brown Abbott, MBA Funds and their associated parties exclude all liability for any direct or indirect loss or damage arising in any way from errors or omissions in the information in the UCITS website, and exclude all responsibilities for any direct or indirect loss or damage arising in any way as a result of any person using the UCITS website or relying on, using or downloading anything from the UCITS website.
            
            Liability for negligence, breach of contract, or contravention of any law as a result of a failure to provide this information, or any part of it, or for any problems with this information, which cannot be lawfully excluded, is limited, at Maple-Brown Abbott’s and/ or MBA Funds’ option, and to the maximum extent permitted by law, to resupplying this information or any part of it to you, or paying for the resupply of this information or any part of it to you.
            
            Errors, omissions, interruptions and delays of services may occur at any time on the internet as it is not a totally reliable or secure medium of communication. Maple-Brown Abbott and MBA Funds accept no liability for the consistency, security and confidentiality of any information sent over the internet and any transmissions over the internet are entirely at the user's risk.
            
            Current Prospectus
            
            The provision of material on the UCITS website is not an invitation to enter into any legal agreement of any kind. No statement or information in the UCITS website constitutes an offer, recommendation, invitation to invest in any investments, securities or financial products of MBA Funds.
            
            Should you wish to invest directly in a MBA Funds financial product referred to in the UCITS website you must only do so on the basis of a current prospectus (including any addenda thereto), application form and key investor information document (KIID) either downloaded from the UCITS website or provided by us in hard copy form.
            
            No guarantees or financial advice
            
            This UCITS website provides general information about MBA Funds only, it does not provide any financial product or investment advice. It should not be construed as a recommendation to invest in any particular financial product on the UCITS website. 
            
            Neither Maple-Brown Abbott, MBA Funds nor their associated parties make any representation nor give any guarantee as to the future performance or success of, the rate of income or capital return from, recovery of money invested in, or income tax or other taxation consequences of, any financial product shown on this UCITS website. Investment is subject to certain risks. Possible risks could include delays in repayment and loss of income or capital invested. 
            
            This UCITS website does not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making investment, financial or other decisions. We do not give advice in relation to any particular investment, security or financial product offered by MBA Funds or any associated parties. Before making an investment decision, you should obtain and consider the relevant prospectus (including any addenda thereto) and KIID, and you should seek independent advice and consider whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. 
            
            Past performance
            
            Past performance is not a reliable indicator of future performance. Investment is subject to certain risks including the loss of capital invested. All asset values are based on our most recent valuations. As pricing frequencies and valuation methodologies differ for the various types of assets, the asset values shown may not be current and, therefore, you shouldn’t rely on them as the basis for trading investments in your account. Returns are volatile and may fluctuate quickly and significantly.
            
            Changes in exchange rates may have an adverse effect on the value price or income of a sub fund of MBA Funds or any class thereof.
            
            Market highlights
            
            The views expressed in any articles are the author’s alone. They should not be otherwise attributed. These views are current as at the date of production and can change day to day. Maple-Brown Abbott and/or MBA Funds may or may not hold securities mentioned. 
            
            Intellectual property rights, trademarks and copyright
            
            Copyright, trademarks, intellectual property rights, database rights and all similar rights in this UCITS website and the information contained in it are owned by Maple-Brown Abbott, MBA Funds or their associated parties. You may use the information on this UCITS website and reproduce it in hardcopy for your own personal reference only provided that you do not remove any copyright notices, disclaimers or any Maple-Brown Abbott trademarks or logos. Except for this purpose or as permitted by law, none of the information on this UCITS website may be reproduced, adapted, uploaded to a third party, linked to, framed, performed in public, distributed or transmitted in any form by any process without the express written consent of Maple-Brown Abbott or, in the case of third party material, from the owner of the copyright in that material.
            
            Links to and from other websites
            
            The UCITS website may contain links to other websites. Neither Maple-Brown Abbott, MBA Funds, nor any associated party make any representation or warranty as to the accuracy, quality, currency or any other aspect of the information contained in those linked websites. A link to another website is not and should not be construed as an endorsement or recommendation by Maple-Brown Abbott, MBA Funds or any associated party of the goods or services offered on that other website or the information contained in that other website. You agree that you will not create any link to any page within the UCITS website without Maple-Brown Abbott's express written permission.
            
            Privacy, records and cookies 
            
            You authorise us to keep records of your access to the UCITS website and to utilise cookies, including placing cookies on your computer, during your access to the UCITS website.
            
            You acknowledge and agree that the collection, disclosure, processing and/or use of information about you from accessing the UCITS website will be subject to the Data Privacy Statement.
            
            Governing law
            
            These UCITS Terms are governed by the laws applicable in Ireland and each party irrevocably submits to the non-exclusive jurisdiction of the courts of Ireland.
            
            Internet
            
            Errors, omissions, interruptions and delays of services may occur at any time on the internet as it is not a totally reliable or secure medium of communication. Maple-Brown Abbott and MBA Funds accept no liability for the consistency, security and confidentiality of any information sent over the internet and any transmissions over the internet are entirely at the user's risk.

           Acceptance of UCITS terms and conditions

            This section of the website (UCITS website) has been prepared by Maple-Brown Abbott Limited (ABN 73 001 208 564 AFSL 237296 ) (Maple-Brown Abbott or we) on behalf of Maple-Brown Abbott Funds plc (MBA Funds). The UCITS website is owned and operated by Maple-Brown Abbott. By accessing the UCITS website you agree to the following terms and conditions (the UCITS Terms) and acknowledge that you have read and understood them. In addition to these UCITS Terms, you agree that your access to this UCITS website is also subject to any other notices, disclaimers or statements contained on this UCITS website.
            
            Maple-Brown Abbott may make changes to the UCITS Terms from time to time without prior notice to you. By continuing to access the UCITS website, you are deemed to have accepted such changes and that Maple-Brown Abbott has no obligation to notify you of any such changes.
            
            Restrictions on information
            
            Access to the UCITS website may be restricted by law in certain jurisdictions. Neither Maple-Brown Abbott nor MBA Funds make any representation that the use of this information is permitted in locations other than Ireland or jurisdictions in which MBA Funds is registered for sale. 
            
            This information on the UCITS website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject Maple-Brown Abbott, MBA Funds or their associated parties to any registration or other requirement within that jurisdiction or country.
            
            When using the UCITS website, you are responsible for complying with all applicable local, national and international laws and regulations, including those related to data privacy and intellectual property.  It may be illegal to access or download the information contained in the UCITS website in certain jurisdictions and we disclaim all responsibility if you access or download any information in breach of any law or regulation applicable to you or in the place that you access the UCITS website.
            
            No U.S. Persons
            
            The information on this UCITS website is not available to US persons, as defined under Regulation S of the U.S. Securities Act of 1933, as amended (US Person). As such by accepting these UCITS Terms you represent and warrant that you: (i) are not a US Person; (ii) are not acting on for the account or benefit of any US Person; and (iii) will not provide or otherwise make available any information herein to any US Person.
            
            Limit of liability
            
            The information is believed to be accurate at the time of compilation and is provided by Maple-Brown Abbott and MBA Funds in good faith. However, the use of the UCITS website is at your sole risk. Neither Maple-Brown Abbott nor MBA Funds make any representation or warranty as to the quality, completeness, accuracy, reliability, timeliness or currency of information contained in the UCITS website.
            
            To the full extent permitted by law, Maple-Brown Abbott, MBA Funds and their associated parties exclude all liability for any direct or indirect loss or damage arising in any way from errors or omissions in the information in the UCITS website, and exclude all responsibilities for any direct or indirect loss or damage arising in any way as a result of any person using the UCITS website or relying on, using or downloading anything from the UCITS website.
            
            Liability for negligence, breach of contract, or contravention of any law as a result of a failure to provide this information, or any part of it, or for any problems with this information, which cannot be lawfully excluded, is limited, at Maple-Brown Abbott’s and/ or MBA Funds’ option, and to the maximum extent permitted by law, to resupplying this information or any part of it to you, or paying for the resupply of this information or any part of it to you.
            
            Errors, omissions, interruptions and delays of services may occur at any time on the internet as it is not a totally reliable or secure medium of communication. Maple-Brown Abbott and MBA Funds accepts no liability for the consistency, security and confidentiality of any information sent over the internet and any transmissions over the internet are entirely at the user's risk.
            
            Current Prospectus
            
            The provision of material on the UCITS website is not an invitation to enter into any legal agreement of any kind. No statement or information in the UCITS website constitutes an offer, recommendation, invitation to invest in any investments, securities or financial products of MBA Funds.
            
            Should you wish to invest directly in a MBA Funds financial product referred to in the UCITS website you must only do so on the basis of a current prospectus (including any addenda thereto), application form and key investor information document (KIID) either downloaded from the UCITS website or provided by us in hard copy form.
            
            No guarantees or financial advice
            
            This UCITS website provides general information about MBA Funds only, it does not provide any financial product or investment advice. It should not be construed as a recommendation to invest in any particular financial product on the UCITS website. 
            
            Neither Maple-Brown Abbott, MBA Funds nor their associated parties make any representation nor give any guarantee as to the future performance or success of, the rate of income or capital return from, recovery of money invested in, or income tax or other taxation consequences of, any financial product shown on this UCITS website. Investment is subject to certain risks. Possible risks could include delays in repayment and loss of income or capital invested. 
            
            This UCITS website does not take into account the investment objectives, financial situation or particular needs of any person and should not be used as the basis for making investment, financial or other decisions. We do not give advice in relation to any particular investment, security or financial product offered by MBA Funds or any associated parties. Before making an investment decision, you should obtain and consider the relevant prospectus (including any addenda thereto) and KIID, and you should seek independent advice and consider whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. 
            
            Past performance
            
            Past performance is not a reliable indicator of future performance. Investment is subject to certain risks including the loss of capital invested. All asset values are based on our most recent valuations. As pricing frequencies and valuation methodologies differ for the various types of assets, the asset values shown may not be current and, therefore, you shouldn’t rely on them as the basis for trading investments in your account. Returns are volatile and may fluctuate quickly and significantly.
            
            Changes in exchange rates may have an adverse effect on the value price or income of a sub fund of the MBA Funds or any class thereof.
            
            Market highlights
            
            The views expressed in any articles are the author’s alone. They should not be otherwise attributed. These views are current as at the date of production and can change day to day. Maple-Brown Abbott and/or MBA Funds may or may not hold securities mentioned. 
            
            Intellectual property rights, trademarks and copyright
            
            Copyright, trademarks, intellectual property rights, database rights and all similar rights in this UCITS website and the information contained in it are owned by Maple-Brown Abbott, MBA Funds or their associated parties. You may use the information on this UCITS website and reproduce it in hardcopy for your own personal reference only provided that you do not remove any copyright notices, disclaimers or any Maple-Brown Abbott trademarks or logos. Except for this purpose or as permitted by law, none of the information on this UCITS website may be reproduced, adapted, uploaded to a third party, linked to, framed, performed in public, distributed or transmitted in any form by any process without the express written consent of Maple-Brown Abbott or, in the case of third party material, from the owner of the copyright in that material.
            
            Links to and from other websites
            
            The UCITS website may contain links to other websites. Neither Maple-Brown Abbott, MBA Funds, nor any associated party make any representation or warranty as to the accuracy, quality, currency or any other aspect of the information contained in those linked websites. A link to another website is not and should not be construed as an endorsement or recommendation by Maple-Brown Abbott, MBA Funds or any associated party of the goods or services offered on that other website or the information contained in that other website. You agree that you will not create any link to any page within the UCITS website without Maple-Brown Abbott's express written permission.
            
            Privacy, records and cookies 
            
            You authorise us to keep records of your access to the UCITS website and to utilise cookies, including placing cookies on your computer, during your access to the UCITS website.
            
            You acknowledge and agree that the collection, disclosure, processing and/or use of information about you from accessing the UCITS website will be subject to the Data Privacy Statement.
            
            Governing law
            
            These UCITS Terms are governed by the laws applicable in Ireland and each party irrevocably submits to the non-exclusive jurisdiction of the courts of Ireland.
            
            Internet
            
            Errors, omissions, interruptions and delays of services may occur at any time on the internet as it is not a totally reliable or secure medium of communication. Maple-Brown Abbott and MBA Funds accept no liability for the consistency, security and confidentiality of any information sent over the internet and any transmissions over the internet are entirely at the user's risk.

I agree to the terms and conditions

Our highest conviction opportunities across the ASX 300

The Australian market has experienced two consecutive calendar years of strong growth

The Maple-Brown Abbott Australian Value Opportunities Fund

Index returns from start of 2024

* Local currency return. † MAG 7 = MSFT, AAPL, NVDA, AMZN, META, GOOG, TSLA. ‡ SPX 493 = S&P500 excluding MAG 7. Source: Minack Advisors, compiled on 19 December 2024.

How does the Fund work with your clients’ portfolios?

How is this fund different?

Market capitalisation range of equity holdings (%)

Source: Maple-Brown Abbott, as at 28 February 2025.

Find out more

Our investment approach

Fund rating

Fund performance^

A team of experienced and dedicated investment professionals.

Head of Australian Value Equities

Dougal Maple-Brown

Dougal

Chief Investment Officer

Garth Rossler

Garth

Portfolio Manager, Australian Value Equities

Christopher Hotop

Christopher

Portfolio Manager, Australian Value Equities

Kateryna Argyrou

Kateryna

Portfolio Manager, Australian Value Equities

Jon Clarke

Jon

Portfolio Manager, Australian Value Equities

Raymond Chang

Raymond

Portfolio Manager, Australian Value Equities

Peter Reeve

Peter

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opportunities across
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