Antipodes Global Fund – UCITS

The aim of the fund is to achieve absolute returns in excess of the MSCI All Country World Net Index in $US over a typical investment cycle of three to fivae years. The fund aims to achieve this objective primarily by investing in a select number, (usually between 30 and 150), of attractively valued companies that are listed on regulated markets.
Fund and investment manager

The Antipodes Global Fund – UCITS (the “Fund”) is managed by Antipodes Partners Limited (the “Investment Manager”). The Fund is a sub-fund of Pinnacle ICAV (the “ICAV”) and was authorised by the Central Bank of Ireland on 5 May 2017.

Fund facts & class information

Antipodes Global Fund – UCITS


1. As a percentage of the net asset value of the Fund attributable to the relevant Share Class per annum. 2 The Performance Fee will be calculated daily in respect of a semi-annual performance period ending on 30 June and 31 December each year (or the immediately preceding Business Day if not a Business Day) (each a Performance Period). The Performance Fee will accrue on each Dealing Day and be payable within one month of the end of the relevant Performance Period. The first calculation period shall begin at the end of the Initial Offer Period for the relevant Share Class (using the Initial Issue Price) and shall finish on the next following 30 June or 31 December, whichever is sooner. 3 This represents, as a percentage of the net asset value of the Fund attributable to each Share Class, the maximum amount of covered costs that can be paid out of the Fund to cover fees and expenses in a financial year, including any fees and expenses payable to the Custodian and the Administrator, but excluding Investment Manager and Performance Fees (if any). The Investment Manager has voluntarily undertaken to pay covered costs (fees and expenses of the Fund) to the extent necessary to ensure that the total fees and expenses in a financial year do not exceed the stated levels. The Investment Manager may terminate or modify any such voluntary agreement at any time at its sole discretion upon thirty (30) days’ notice in writing to the Shareholders. 4 The state of the origin of the Fund is Ireland. This document may only be distributed in or from Switzerland to qualified investors within the meaning of Art. 10 Para. 3, 3bis and 3ter CISA. The Representative in Switzerland is ACOLIN Fund Services AG, Affolternstrasse 56, CH-8050 Zurich, whilst the Paying Agent is Banque Cantonale de Genève, 17, quai de l’Ile, CH-1204 Geneva. In respect of the units distributed in or from Switzerland, the place of performance and jurisdiction is at the registered office of the Swiss representative. The basic documents of the Fund as well as the annual and, if applicable, semi-annual report may be obtained free of charge at the registered office of the Swiss Representative. 5 Open to Institutional Investors only.

Key investment policies
  • The Fund aims to achieve its investment objective by primarily investing in a select number (usually between 30 and 150) of attractively valued companies listed on the Regulated Markets.
  • Investments will not be made by reference to any benchmark or index or limited to any particular industry or sector and will be chosen based on the investment methodology described in the Fund Supplement.
  • There is no geographical focus in respect of any category of investment by the Fund and the Fund may invest in excess of 20% of its Net Asset Value in emerging market countries (including Russia).
  • The Fund invests in derivative instruments for one or more of the following reasons:
    • for risk management purposes to either increase or decrease the Fund’s exposure to markets and establish currency positions;
    • to take opportunities that may increase the returns of the Fund;
    • with a view to reducing transaction and administrative costs (e.g. the use of an equity swap to establish a short position in a security);
    • to take up positions in securities that may otherwise not be readily available (e.g. access to a stock market where foreign investors face
      restrictions); and
    • to assist in the management of the Fund’s cash flows (e.g. certain stock markets may require pre-funding of stock purchases that may be
      avoided through the use of derivatives).
  • The Fund may take synthetic short positions to manage risk and exposure and to capitalise on attractive risk/reward opportunities.
  • While the Fund may be leveraged through the use of financial derivative instruments, any such leverage will not exceed 100% of its Net Asset Value.
  • The Fund may take both long and, through the use of derivative instruments, short positions, and is typically expected to be within the range of 50%-150% long and 0%-50% short of the Fund’s Net Asset Value.
  • Further information is available in the Fund Prospectus and Supplement.
Net performance

Net performance

Past performance is not a reliable indicator of future performance. Returns are quoted in USD and net of applicable fees, costs and taxes. All p.a. returns are annualised. 2 MSCI All Country World Net Index in USD.

Net performance

Past performance is not a reliable indicator of future performance. Returns are quoted in USD and net of applicable fees, costs and taxes. All p.a. returns are annualised. 2 MSCI All Country World Net Index in USD.

Net performance

Past performance is not a reliable indicator of future performance. Returns are quoted in USD and net of applicable fees, costs and taxes. All p.a. returns are annualised. 2 MSCI All Country World Net Index in USD.

The net asset value (NAV) per share prices in these tables relate to the different share classes that are available within Antipodes Global Fund – UCITS. The share classes have significantly different attributes – currency, fees, voting rights, availability and tax reporting status depending on jurisdiction. Please ensure you are fully informed of these differences before making any investment decisions.

Unit price history

Unit price history

Unit price history

Unit price history

Key investor information documents
Ireland, UK, Guernsey & Singapore (in English)
Italy (in Italian)
Switzerland (in English)
Spain (in Spanish)

For historical reports, please contact the Antipodes team

For historical reports, please contact the Antipodes team

For historical reports, please contact the Antipodes team

Investing in Antipodes Global Fund - UCITS

Please read the Prospectus and Key Investor Information Documents (KIIDs) before making any investment decision. Enquiries concerning the Fund and the Shares, including the Prospectus or subscription and redemption procedures should be directed to our Global Distributor:

Global Distributor

Pinnacle Investment Management Limited
Level 25, Australia Square Tower, 264 George Street
Sydney NSW 2000 Australia
 
Email us.
Read the Prospectus and Key Investor Information Documents:
Prospectus
Country specific Key Investor Information Documents
Ireland, UK, Guernsey & Singapore (in English)
Italy (in Italian)
Switzerland (in English)
Spain (in Spanish)

Contact Us

UK/Europe:

Ben Cossey / James Longman / Malaka Jayawickrema

Email us

Suite 823, 125 Old Broad Street
London, EC2N 1AR
United Kingdom

Asia Pacific:

Megan Jenner
Email

Level 25 Australia Square Tower
264 George Street
Sydney, NSW 2000
Australia

Pinnacle ICAV – Ireland
25/28 North Wall Quay
IFSC, Dublin 1
Ireland
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Coming soon to the ASX: the Antipodes Global SMID Fund will be available as an active ETF on the 10th of November 2025

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This website is intended solely to provide information to professional investors in each jurisdiction in which the relevant sub-fund (each a Fund) within the umbrella Undertakings for Collective Investment in Transferable Securities (UCITS) fund operated by Pinnacle ICAV and managed by Antipodes Partners Limited (Antipodes) is registered for sale and should not be relied upon for any purpose.

The information contained on this website is not directed at any person in any jurisdiction where the publication or availability of the information is prohibited or restricted by law. Persons in respect of which such prohibitions apply must not access the website or the information contained herein. Persons into whose possession this website may come are required to inform themselves about and to comply with any relevant restrictions. This does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to who it is unlawful to make such an offer or solicitation.

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