INVESTMENTS
NOTE: All Investments are now held via a unitholding in The Westferry Fund which was seeded with the assets of Three Hundred Capital and continues to hold very similar asset classes to those set out below.
SHARES
This is the major asset class of Three Hundred Capital. We have a heavy focus on small and micro-cap ASX listed shares but also own shares on minor exchanges (i.e. the NSX) and on international exchanges.
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Small and micro-cap companies are usually less liquid, less examined and less understood than their larger counterparts. This means they produce inefficiencies more often and the opportunities that go with them.
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"If you want superior returns, find an inefficient and illiquid market, and work everyday to be one of the best investors in that market." - Ian Cassel
DEBT AND FIXED INTEREST
Our constant examination of investment ideas often reveals attractive opportunities in debt as well as equity markets.
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We have developed a portfolio of investments in fixed interest and debt securities issued by entities in which we believe we have some greater insight than other investors. The usual example is debt issued by small or micro-cap companies which we already know well from having studied their ASX equity listing.
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We favour instruments that are secured by real assets or are issued by companies that hold tangible assets (i.e. investment companies that own a portfolio of shares we know and understand which issue debt to gear their portfolio).
MANAGED FUNDS
Our constant interaction with the micro-cap investor community in Australia and overseas has led us to identify talented, off-the-radar fund managers.
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Often these are private investors starting funds in a similar way to the inception of Three Hundred Capital. We see early investment in these funds as a way of gaining access to high returns that can't be accessed by our investors elsewhere.
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Three Hundred Capital has so far made investments with two such managed funds which are focused on ASX listed small and micro-cap companies.