Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 382

Video: How Chris Cuffe finds fund managers who 'swing the bat'

After 40 years inside the world of managing investments and selecting fund managers, Chris Cuffe summarises his experiences into a few quick lessons. His observations are not the traditional cliches about past performance and management styles, but what really works when selecting investments.

From the Morningstar Individual Investor Conference, 29 October 2020


The Morningstar 2020 Individual Investor Conference was held over 29 and 30 October and drew over 2,000 registrations. It offered investors the opportunity to tap into the expertise and knowledge and Australia's leading investors. 

Some of the highlight sessions include:

  • Hamish Douglass from Magellan discusses the US election, long-term trends and your portfolio
  • Gemma Dale from nabtrade on the rise of the retail investor
  • Kate Howitt from Fidelity on how she selects stocks
  • David Harrison from Charter Hall Property discusses how it's all about location, location and ... strategy.
  • Anton Tagliaferro of IML on finding long-term opportunities in the current market.

Get access to all the recordings and explore all Premium benefits (including the Sharesight portfolio service) with a free Morningstar Premium trial. No credit card required.


Chris Cuffe is Founder and Portfolio Manager of the charitable trust, Third Link Growth Fund and Chairman of Australian Philanthropic Services. He is the Co-Founder of Cuffelinks, the predecessor to Firstlinks, and sits on the boards and investment committees of many companies and family offices. The views expressed are his own.

 

  •   4 November 2020
  • 6
  •      
  •   
6 Comments
Gary M
November 04, 2020

Can we have some of the names of fund managers who don't charge a management fee but only charge a performance fee?

Matt
November 07, 2020

Solaris

Ray
November 27, 2020

Matt, fyi, the Solaris - performance fee option - fund is closed to new investors

John
November 04, 2020

Chris is the Chairman of one of these funds called EGP Capital, however, it has under performed the ASX 200 Index since it commenced in August 2017. Accordingly, the manager has not received a dollar of performance fees.

Graham Hand
November 08, 2020

Thanks, John, but from their latest report, the fund is ahead of benchmark since inception:

The fund rose by 4.6% in October 2020. The fund has gained 9.28% so far in FY2021.
The benchmark rose by 1.9% in October. The benchmark has gained 1.48% so far in FY2021.
The fund has returned 18.5% since inception (15 August 2017). The benchmark has returned 17.2% since fund inception.
The contiguous performance of both EGP funds since inception (1 April 2011) is 206%. The combined benchmarks have returned 90% since fund inception.

Caesar- Longtime investor/adviser
November 06, 2020

Gary -performance only funds management are nice in theory, but in practice they rarely survive, unless some-one else is paying their cost, which in turn leads to a vested interest/conflict/or they get fees by paying no interest on cash style products, etc.. Ask -Who is paying for the funds legal/accounting/tax/compliance/pds production & updating/investment managers & support people wages/IT systems and needs/Research fees, etc

 

Leave a Comment:

RELATED ARTICLES

Video: Noel Whittaker on investing until you’re 100

My 10 biggest investment management lessons

What Warren Buffett isn’t saying speaks volumes

banner

Most viewed in recent weeks

Want your loved ones to inherit your super? You can’t afford to skip this one step

One in five Australians die before retirement and most have not set up their super properly so their loved ones can benefit from all their hard work and savings. 

Indexation implications – key changes to 2026/27 super thresholds

Stay on top of the latest changes to superannuation rates and thresholds for 2026, including increases to transfer balance cap, concessional contributions cap, and non-concessional contributions cap.

Super is catching up, but ageing is a triple-threat

An ageing Australia is shifting the superannuation system’s focus from accumulation to the lifecycle of retirement. While these pressures have been anticipated for decades, they are now converging at scale and driving widespread industry change.

Has Australia wasted the last 30 years?

The 20 years after Peter Costello left Treasury have been deemed wasted...by Peter Costello. The missed opportunities for Australia began long before.  

The refinery problem: A different kind of energy crisis in 2026

The Strait of Hormuz closure due to US-Iran conflict severely disrupted global energy supply chains. While various emergency measures mitigated the crude impact, the refined product market faces unprecedented stress.

3 ways to defuse intergenerational anger

With the upcoming budget increasingly likely to include bold proposals to alter the tax code I’ve outlined three incremental steps with fewer unintended consequences.

Latest Updates

Investment strategies

War can’t be good, can it?

War brings immense human suffering and geopolitical chaos, but historically, equity markets have shown a certain detachment and resilience amid conflict, leading to increased profitability despite initial panic.

Property

Origins of the mislabeled capital gains tax ‘discount’

Debate over the CGT discount is intensifying amid concerns about intergenerational equity and housing affordability. This analysis shows that the 'discount' does not necessarily favor property investors.

Superannuation

Div 296 may mean your estate pays tax on assets your beneficiaries never receive

The new super tax, applying from 1 July, introduces more than just a higher rate on large balances. It brings into focus a misalignment between where wealth sits and where the tax on that wealth ultimately falls.

Investment strategies

There’s more to software than just code

AI-driven fears of collapsing software moats has triggered indiscriminate sell-offs. This has created mispricing opportunities as markets overreact to uncertainty and rising discount rates.

Economics

Europe: A new growth trajectory powered by reform and investment

Europe is undergoing a major transformation driven by security threats, US pressure, and a shift from austerity to growth. EU member states are taking proactive measures to enhance competitiveness and resilience.

Investment strategies

Orbital AI data centers prepare for launch

The new space race is driven by AI as data centers in space offer continuous solar power and reduced environmental impact. Orbital AI aims to speed data processing and ease Earth's resource strains.

Retirement

Little‑known government scheme can help retirees tap into $3 trillion of housing wealth

The Home Equity Access Scheme in Australia allows older homeowners to tap into their home equity for retirement income, yet remains underused due to lack of awareness and its perceived complexity.

Sponsors

Alliances

© 2026 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.