Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 249

Third Link Growth Fund’s 10th anniversary

It’s a personal thrill that Third Link Growth Fund has just passed its 10th anniversary. The Fund opened for investment on 10 April 2008, in hindsight a difficult time to launch with the global financial crisis around the corner.

With the passing of these 10 years, it’s a good time to pause, reflect and celebrate the achievements of the Fund. These include:

  • The Fund has grown to $163 million at the end of March 2018, a significant achievement given there has been no sales force selling the product. It relies on word-of-mouth, the innovative charitable angle whereby all fees are donated to charity (a structure since copied successfully as well), a good performance track record and some favourable press.

  • Over the 10 years since inception, the Fund has achieved a compound annual return of 9.6% after fees. During this same time period the bank bill rate has yielded 3.4% per annum.

  • From February 2012, the Fund altered its objective from a multi-sector growth fund (invested in a combination of Australian shares, international shares, property and fixed interest) to one that invested only in Australian shares. Since that time, the Fund has achieved a compound annual return of 13.6% after fees compared with the S&P/ASX300 Accumulation Index increasing by 9.8% per annum. The Fund outperformed this benchmark by 3.8% per annum.

  • Zenith Investment Partners, an independent research group, currently has a ‘Recommended’ rating on the Fund. Furthermore, the Australian financial data provider, FE, and Money Management have recently launched the FE Crown Fund ratings in Australia (a quantitative measure of performance, consistency and volatility) and Third Link Growth Fund has received the maximum score of 5 crowns. The Fund sits within the top 10% of its peer group.

  • Since inception, over $7,500,000 has been donated to charities (all listed on the Fund’s web site, and which include Australian Indigenous Mentoring Experience (AIME), National Centre for Childhood Grief, The Song Room, batyr, Foundation for Rural and Regional Renewal, Dismantle, SHINE for Kids, BackTrack, Mirabel Foundation, Raise Foundation and Children’s Ground) from the fees received in managing the Fund. Donations are now running at around $175,000 every month!

Of course, none of this could have been achieved without the extraordinary generosity of the underlying investment managers and service providers who all provide their services on a pro bono basis. The investment managers include Aberdeen Asset Management, Bennelong Australian Equity Partners, Colonial First State Global Asset Management, Cooper Investors, Greencape Capital, Harness Asset Management, JBWere Wealth Management, L1 Capital, Lazard Asset Management Pacific Co, Lennox Capital Partners, Montgomery Investment Management, Ophir Asset Management, Paradice Investment Management, and Pengana Capital. And the service providers include Bennelong Funds Management (Responsible Entity), RBC Investor Services Trust (custodian and administrator), Minter Ellison (legal work), Deloitte (auditors of the Fund), Ernst & Young (auditors of the Manager), KPMG (tax advisers to the Fund) and Nexia Australia (tax advisers to the Manager).

Thank you to those who have supported the Third Link Growth Fund and helping make the concept a reality. The Fund closed to new investors in September 2017.

 

Chris Cuffe is the Founder and Portfolio Manager of Third Link Growth Fund. Past performance is not indicative of future performance. This information provided is general and does not constitute personal financial, tax or legal advice.

  •   19 April 2018
  • 3
  •      
  •   

RELATED ARTICLES

Charitable giving and tax deductions

Reform needed to allow donations from super to charity

Gail Kelly reveals how her family gifts money

banner

Most viewed in recent weeks

The growing debt burden of retiring Australians

More Australians are retiring with larger mortgages and less super. This paper explores how unlocking housing wealth can help ease the nation’s growing retirement cashflow crunch.

Four best-ever charts for every adviser and investor

In any year since 1875, if you'd invested in the ASX, turned away and come back eight years later, your average return would be 120% with no negative periods. It's just one of the must-have stats that all investors should know.

LICs vs ETFs – which perform best?

With investor sentiment shifting and ETFs surging ahead, we pit Australia’s biggest LICs against their ETF rivals to see which delivers better returns over the short and long term. The results are revealing.

Warren Buffett's final lesson

I’ve long seen Buffett as a flawed genius: a great investor though a man with shortcomings. With his final letter to Berkshire shareholders, I reflect on how my views of Buffett have changed and the legacy he leaves.

Family trusts: Are they still worth it?

Family trusts remain a core structure for wealth management, but rising ATO scrutiny and complex compliance raise questions about their ongoing value. Are the benefits still worth the administrative burden?

13 ways to save money on your tax - legally

Thoughtful tax planning is a cornerstone of successful investing. This highlights 13 legal ways that you can reduce tax, preserve capital, and enhance long-term wealth across super, property, and shares.

Latest Updates

Financial planning

How much does it really cost to raise a child?

With fertility rates at a record low, many say young people aren’t having kids because they’re too expensive. Turns out, it’s not that simple and there are likely other factors at play.

Exchange traded products

Passive ETF investors may be in for a rude shock

Passive ETFs have become wildly popular just as markets, especially the US, reach extreme valuations. For long-term investors, these ETFs make sense, though if you're investing in them to chase performance, look out below.

Shares

Bank reporting season scorecard November 2025

The Big Four banks shrugged off doomsayers with their recent results, posting low loan losses, solid margins, and rising dividends. It underscores their resilience, but lofty valuations mean it’s time to be selective. 

Investment strategies

The real winners from the AI rush

AI is booming, but like the 19th-century gold rush, the real profits may go to those supplying the tools and energy, not the companies at the centre of the rush.

Economy

Why economic forecasts are rarely right (but we still need them)

Economic experts, including the RBA, get plenty of forecasts wrong, but that doesn't make such forecasts worthless. The key isn't to predict perfectly – it's to understand the range of possibilities and plan accordingly.

Strategy

13 reflections on wealth and philanthropy

Wealth keeps growing, yet few ask “how much is enough?” or what their kids truly need. After 23 years in philanthropy, I’ve seen how unexamined wealth can limit impact, and why Australia needs a stronger giving culture.

Sponsors

Alliances

© 2025 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.