SYDNEY 02 9233 2433

MELBOURNE 03 9601 6800


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F Palmer & ME Palmer
Trading as Joseph Palmer & Sons
AFS Licence 247067 · ABN 29 548 490 818

Palmer Investment Management

Two main choices have always faced traditional investors: either manage your investment portfolio yourself, or outsource to a fund manager in the form of a ‘managed investment portfolio’ or ‘mutual fund’

If you are the first type of investor, you need the sophisticated skills of the investment professional together with the considerable amount of time needed to grow, manage and administer your portfolio. In addition, you need forensic research to guide your decision-making. For most, these self-imposed tasks carry risks and pitfalls and are expensive.

If you are the second type of investor, you face the reality that fund managers generally ‘bundle’ your dollars with those of many others, as you are buying ‘units’ in a trust fund rather than having direct ownership of the underlying securities. This can be expensive due to the high (and often hidden) costs resulting from a multi-layered structure.

In short, bundling ignores your personal preferences and circumstances and you become one of ‘the trivial many’ instead of ‘the critical few’.

Palmer Discretionary Account

We have solved the above issues by providing clients with the Palmer Discretionary Account (PDA). The PDA reflects your personal preferences yet saves both significant time and money.

How? You tell us your objectives, your circumstances and your preferences. We then establish a Palmer Discretionary Account in your name (or your nominated entity’s name) which is based on one of our model portfolios, but makes allowances for your preferences and risk profile. Once set up, you give us the discretion to handle your portfolio within specified guidelines.

In addition to major savings in time and money, you also have the benefit of being able to speak directly to your account manager in our firm … whenever you wish to.

Bottom line? You have the satisfaction of having a portfolio tailored to your specifications. You are treated as an individual (or family) with all your preferences recognised by us. In addition, you have the satisfaction of knowing that the oldest family investment firm in Australia is looking after your specific investment interests. And all this for an outlay that is undoubtedly lower than you are currently paying.

Our Performance

Performance is one of the ‘three essential Ps of investment’: the right people, following the right process will always deliver the desired performance – consistently.

That’s what you get at Joseph Palmer & Sons: highly skilled people, most of whom have been with the firm for many years; our unique ‘relative value analysis’ (RVA) process that identifies undervalued securities both here and internationally – and performances which speak for themselves.

The charts below provide an example of how two of our ‘core’ model portfolios have performed over the past five years. (More detailed performance reports can be seen by clicking on the charts below)

JPS Core Growth portfolio - Seven year comparison with Morningstar Multisector Growth portfolio

Grwoth Portfolio

Morningstar research definition of the Multi-Sector Growth category: contains multi-sector funds with 60.0 - 80.0 percent of their investments in the growth assets of shares and property.

JPS Core Balanced portfolio - Seven year comparison with Morningstar Multisector Balanced portfolio

Grwoth Portfolio

Morningstar research definition of Multi-Sector Balanced category : contains multi-sector funds with 40.0 - 60.0 percent of their investments in the growth assets of shares and property.

Our Process

The process for establishing your Palmer Discretionary Account is as follows:

  • First you determine your specific investment strategy with professional input from your account manager at Joseph Palmer & Sons (you may change your strategy at any time).
  • Then, you outsource the selection and day-to-day management of your portfolio’s securities (shares, fixed interest, property, etc.) to our team to buy/sell on your behalf.
  • Importantly, the shares and other securities remain in your name (and are not bundled up with those of another investor) and you gain any tax benefits directly (such as franking credits) which are not shared with others.
  • Our “Relative Value Analysis” process for selecting shares for our portfolios is particularly rigorous and we constantly seek the best financial assets in which to invest.
  • We deliberately limit the universe of Australian stocks we examine to the top 200 in the ASX. Similarly, the international stocks we examine are large companies with a demonstrably safe track record. We constantly analyse:
    • quality of management
    • earnings estimates
    • dividend estimates
    • relative price to earnings
    • price to earnings growth
    • enterprise value to earnings before tax, earnings, depreciation and amortisation (EBTDA).

An overview of our investment methodology is contained in our recently published book, Safe Hands. All JPS Clients receive a copy free of charge.

Why Joseph Palmer & Sons?

Whether we are managing your personally tailored portfolio or if you are using one of our core portfolios, you will have peace-of-mind knowing that the day-to-day decisions regarding your investments are in the ‘safe hands’ of the experienced team at Joseph Palmer & Sons

Further benefits make the Palmer Discretionary Account particularly attractive: First, extremely competitive fees as you are not paying for multiple management tiers; complete transparency as you can monitor your fund’s performance and produce your own reports at any time; and finally, whenever you call the Joseph Palmer & Sons phone number, you get to speak to your account manager instead of a soulless robot.

For more information on the Palmer Discretionary Account, or on any of our other investment services, please call us on (02) 8224 3324. Even better, come in for a chat over a cup of coffee if you have the time. We would be very pleased to meet you.

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Malcolm Palmer

Malcolm Palmer

Managing Partner

Sonia Xerri

Sonia Xerri

Senior Investment Adviser - Sydney Office

Michael Casey

Michael Casey

Senior Investment Adviser - Sydney Office

Allan Furlong

Allan Furlong

Manager Investment Advisory Services - Sydney Office

Rodney Horin

Rodney Horin

Managing Director - Melbourne Office

Alex Moffatt

Alex Moffatt

Director - Melbourne Office