We want to mark the end of FY26 with a moment to reflect on what was achieved and set the intention for what is ahead.
We are often asked why an impact mandate should help, rather than hinder, performance. NorthStar remains the only Australian equities impact fund certified by RIAA, and we run it as a high-conviction, bottom-up portfolio, with our top ten positions representing ~40% of the Fund. We are not trying to track an index. We start with the problems worth solving, find the well-managed companies solving them, and buy when the market is mispricing both the impact and the earnings.
For FY27, we want to continue to emphasise that impact is not a constraint on the return, rather it is key to the investment thesis. As with FY26, we expect our strongest contributors to have clear impact stories in the same way that Vysarn helps Australian industrials better manage, use and reuse water; Chrysos eliminates lead and cyanide from mineral assay and cuts emissions by over 95% per sample; Seaforest helps to abate cattle methane; and 4D Medical’s software enables earlier detection of respiratory disease.
Thank you for being part of the solution,
Kerry and Claudia