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Harper Bernays – Private Investment Managers – Sydney, Australia FAQs - Harper Bernays - Private Investment Managers - Sydney, Australia



What type of investments do you make?

We make investments for our clients in companies listed on the Australian Stock Exchange.

Do you have a licence to provide this service?

Harper Bernays Limited holds an Australian Financial Services Licence (AFSL #230635) issued by the Australian Securities and Investments Commission (ASIC).

What is the minimum investment size you will manage?

The preferred minimum portfolio that we manage is $1 million. A portfolio can be established with existing shares and/or cash.

What type of return can you generate on my investment?

We do not in any way guarantee investment performance. However information on this website provides historical client performance since inception.

Structure of the investment

Is my investment pooled together with others or is it separately managed?

Your portfolio is individually managed under a management agreement between yourself and Harper Bernays Limited.

Who will hold my cash and shares?

An independent custodian nominated in your management agreement will hold all of the assets in your portfolio. All cash will be held in the custodian’s cash management account, bank bills, or their equivalent.

What role does the custodian perform?

Apart from holding your shares and cash, the custodian has a Power of Attorney signed by you that allows them to settle all the portfolio transactions, collect all dividends and interest, and correspond with listed companies and their share registries. The custodian also provides a range of monthly and annual reports on custodian letterhead.

Operation of the portfolio

How does Harper Bernays participate in the market?

Harper Bernays is an active institutional investor. Each day we monitor the activity in the market, talk with the leading institutional stockbrokers and analysts, and meet face-to-face with the management of listed companies. On behalf of our clients, we also participate in new floats, share placements and sub-underwritings.

We execute buy and sell orders for our clients’ investment portfolios through stockbrokers, who, in turn, settle these transactions directly with your nominated custodian.

Who will manage my portfolio?

Your portfolio will be managed by employees of Harper Bernays, who you can contact directly to discuss your portfolio. These investment managers do not receive any commissions or other benefits for making investment recommendations for your portfolio.

What types of reports will I receive about my portfolio?

The custodian will maintain a separate record of all the investments owned by each individual portfolio. Each month you will receive a valuation statement and transaction report, which shows the market value of each of your investments, details of any acquisitions or disposals made throughout the month, as well as any interest and dividends you have received.

Each year the custodian will also prepare a number of reports designed to assist you in simplifying your taxation affairs. These include capital gains tax reports, income reports, and dividend imputation reports. GST reports to assist you in completing your Business Activity Statement can also be prepared.

Management agreement and fees

Can you explain how your management agreement works?

Harper Bernays is contracted to manage your investment portfolio on a discretionary basis. Unless you have any specific requirements (such as instructing us not to invest in a particular stock or sector) we will make all investment decisions on your behalf. The agreement with us can be revoked with 60 days written notice and we, in conjunction with the custodian, will arrange the transfer of cash and assets as instructed.

In addition, we are bound by our agreement not to disclose your affairs to any other party (unless otherwise required by law).

Can you explain how you charge for your service?

Our management fee is calculated based on the market value of the portfolio at the end of each month. There are no establishment fees or exit fees and the monthly management fee is inclusive of all custodial charges and GST. The fee is paid directly from your investment portfolio and in most cases is tax deductible.

Do you offer a choice of fee structures?

You have the option of nominating the fee structure that best suits your requirements. We offer two different fee options: a standard fee or a performance fee. Minimum monthly fees apply to both options. All fees are payable on a portfolio basis, not a client basis.

The fee schedules vary depending upon the choices made by each client and can be discussed when investigating options with potential clients.

Investment considerations

What type of investment approach do you take?

We classify our investment approach as “stock specific”.

What timeframe do you consider when you make an investment?

We take a long-term view with the investments that we make. This ensures that through periods of volatility, investment decisions do not yield to investor emotions.

What is your investment philosophy?

We believe in making long-term investments in companies, led by capable management, that are able to deliver consistent growth in earnings.

How do you make decisions to buy and sell stocks?

Our decisions to buy and sell are based on extensive research into each company, and a variety of considerations such as our assessment of the company’s business model, ability of the management to execute its business plans, potential for strong earnings growth, current market valuation and sentiment. We also take into account specific client needs when reviewing buy and sell decisions.

Investment advice

How do I establish an investment portfolio with Harper Bernays?

Firstly, our investment team will meet with you to discuss your investment objectives and better understand your financial circumstances and risk profile.

Once you have signed a management agreement, we will establish your individual portfolio with either cash and/or the existing share portfolio you provide to your custodian. We can then commence making investments on your behalf, as and when investment opportunities arise.