A track record of stable growth.
Profit from trends and from volatility,
with less risk and more liquidity.
About Cor Capital
Established in 2012, we are an independent investment management firm based in Melbourne, Australia. Our firm is 100% privately owned, the majority by staff.
We specialise in managing and further developing our proven multi-asset investment strategy via the Cor Capital Fund. The genesis of our business was in response to the need for an uncomplicated but robust and liquid absolute return investment alternative in the post-GFC environment.
To that end, we invest across equities, fixed interest, precious metals, and cash markets, systematically combining asset classes (unconventionally) into a growth solution that minimises medium-term drawdowns.
We specialise in managing and further developing our proven multi-asset investment strategy via the Cor Capital Fund. The genesis of our business was in response to the need for an uncomplicated but robust and liquid absolute return investment alternative in the post-GFC environment.
To that end, we invest across equities, fixed interest, precious metals, and cash markets, systematically combining asset classes (unconventionally) into a growth solution that minimises medium-term drawdowns.
Why Cor Capital:
• Straightforward investment philosophy
• Defensive focus
• Alternative return sources
• Disciplined, rules-based approach
• Experienced team
• Proven track record
• Strong alignment of interests with investors
Our name ‘Cor’ is the Latin word for heart. It reflects the value we place on authenticity and underscores the importance of the capital we manage on behalf of our investors.
• Straightforward investment philosophy
• Defensive focus
• Alternative return sources
• Disciplined, rules-based approach
• Experienced team
• Proven track record
• Strong alignment of interests with investors
Our name ‘Cor’ is the Latin word for heart. It reflects the value we place on authenticity and underscores the importance of the capital we manage on behalf of our investors.
Cor Capital is focussed on a single registered managed investment scheme, the Cor Capital Fund. The Fund is commonly used as an alternative asset within a broader strategic asset allocation or as a standalone absolute return investment. Tailored mandate solutions can also be managed for larger clients.
For more information on the scheme and mandates currently offered, please contact us on 03 9221 6255 or contact us via the Connect page.
For more information on the scheme and mandates currently offered, please contact us on 03 9221 6255 or contact us via the Connect page.
Cor Capital’s operations combine the investment experience and expertise of our focussed and tight-knit team with the highest quality specialists, consultants, and counterparties.
This business structure ensures efficiency and accountability and gives Cor access to vast resources when required. As a majority employee-owned firm, we view employee equity ownership and fund investment as important to developing a
culture of stability and aligned interests.
This business structure ensures efficiency and accountability and gives Cor access to vast resources when required. As a majority employee-owned firm, we view employee equity ownership and fund investment as important to developing a
culture of stability and aligned interests.
DAVIN HOOD - Managing Director
Davin established Cor Capital in 2012 to focus solely on the management of the Cor Capital Fund. Prior to Cor Capital, from 2006 to 2011 he served as a Director in the Wealth Management division of UBS Australia. He has 20+ years’ experience in stockbroking (UBS and Citigroup) and funds management (Merlyn Asset Management) serving institutional and private clients on both a discretionary and advisory basis. Davin has undergraduate and post-graduate qualifications in finance and is a Fellow of the Financial Services Institute of Australasia. He is the Portfolio Manager of the Cor Capital Fund with overall responsibility for the investment strategy and its implementation.
TOM RACHCOFF - Executive Director
Tom joined Cor Capital in 2012. He was previously a Managing Director and Asia Pacific Head of Credit Suisse HOLT (2001-2010), leading teams based in multiple markets and advising institutional investment managers and hedge funds on global stock selection. Prior to joining Credit Suisse, Tom was Managing Director of HOLT Value Associates Global Securities. He also held a variety of positions over 13 years at Merrill Lynch. Tom holds a bachelor’s degree in economics and finance, and attained adviser and principal-officer accreditations across key developed markets in Australasia, Europe and North America.
MARK DE WAN - Head of Sales and Marketing
Mark joined Cor Capital in 2023 and has 25+ years’ industry experience. Prior to joining Cor Capital, Mark was a Key Account Manager at Ellerston Capital with responsibility for growing adviser relationships and identifying business development opportunities. Mark previously spent 3 years at MLC Life Insurance assisting with its transition in ownership from NAB-owned MLC to Nippon Life. Previous roles have included National Key Account Manager at NAB Wealth / MLC and Director, Business Development, at UBS Global Asset Management. Mark began his career as a financial adviser and has completed a Diploma of Financial Planning.
Phone: +61 409 501 488
Email: mark.dewan@corcapital.com.au
Phone: +61 409 501 488
Email: mark.dewan@corcapital.com.au
MATTHEW HOPPER - General Manager
Matt joined Cor Capital in 2016 to manage the operating business’s IT and finance functions. He has previously worked in the UK on regulatory risk, finance and IT development projects. His roles have varied from Financial Controller, Project Manager to Data and Risk Analyst. Throughout his 20+ year career, Matt has worked for Royal Bank of Scotland, ANZ, NAB, Liberty Syndicates Insurance and KPMG among many others. Matt acquired a Bachelor of Commerce degree and Chartered Accountant designation in the 1990s. He has also recently acquired a Diploma in IT and is a Prince2 Project Management Practitioner.
Our Investment Approach
Differentiated investment alternatives are difficult to find but when discovered, can improve the alignment of portfolios with investor goals, whether that be with regard to the timing of their commitments, or their more or less conservative nature.
The Cor Capital Fund therefore seeks to protect and grow real wealth with less risk of capital draw down, filling the void between cash deposits and longer-term or less-liquid investments such as stocks or real-estate.
The Cor Capital Fund therefore seeks to protect and grow real wealth with less risk of capital draw down, filling the void between cash deposits and longer-term or less-liquid investments such as stocks or real-estate.
In order to compound returns with improved odds of success over periods shorter than those used for traditional strategic asset allocation, a specially designed approach is required. Rather than betting on the accuracy of specific forecasts or predictions, we invest across a carefully selected range of asset classes, capitalising on time-tested behavioural, mathematical and market principles to achieve incremental returns in excess of the average constituent, particularly during periods of heightened market volatility.
Asset class returns, in our opinion, are largely driven by changes in expectations of economic growth and inflation. That said, economic and market outcomes are uncertain; changes to expectations are unpredictable for practical investment purposes. Surprises are common and have an underappreciated influence on long-term asset class returns.
However economic and market outcomes are not arbitrary; while very different in nature and critically consequential to investor wealth, the range of possible scenarios is limited.
Because the behavioural responses of general market participants to each outcome are somewhat predictable, real positive medium-term returns can be achieved by doing the following:
However economic and market outcomes are not arbitrary; while very different in nature and critically consequential to investor wealth, the range of possible scenarios is limited.
Because the behavioural responses of general market participants to each outcome are somewhat predictable, real positive medium-term returns can be achieved by doing the following:
- Diversifying broadly across the main growth and inflation risks (assumption: every asset class has its day)
- Rebalancing risk regularly (assumption: making contrarian adjustments adds to returns)
Similar ‘permanent portfolio’ approaches have been employed for decades in the United States and Cor Capital has operated an Australian-based version of the strategy since 2012. Designed as a more robust alternative to generating positive medium-term returns, Cor Capital has enhanced the general approach for Australian investors including:
- Adding selective asymmetry to certain asset classes
- Focussing on volatility capture throughout the portfolio
- Optimising for friction costs
- 100% systematic / rule-based implementation
The Cor Capital Fund portfolio is constructed in line with our Investment Philosophy of i) diversifying broadly across the main growth and inflation risks (every asset class has its day) and ii) rebalancing risk regularly (making contrarian adjustments adds to returns).
Highly intuitive and robust to origin or regime, it involves matching asset classes to highly consequential but opposing economic and market forces. For example: aggressive monetary policy, unintended policy consequences, carry bubble, carry crash, real economic growth.
We believe this macro-level design and ongoing management process increases the likelihood of portfolio growth across a broad range of environments, whether evolving slowly or explosive in nature.
Highly intuitive and robust to origin or regime, it involves matching asset classes to highly consequential but opposing economic and market forces. For example: aggressive monetary policy, unintended policy consequences, carry bubble, carry crash, real economic growth.
We believe this macro-level design and ongoing management process increases the likelihood of portfolio growth across a broad range of environments, whether evolving slowly or explosive in nature.
Asset class returns are driven by changes to expected future outcomes
| Asset Class | Favourable Environment | Unfavourable Environment |
| Equities | Strong economic growth Increasing confidence Falling discount rate | Strongly increasing inflation Outright deflation Low confidence/High anxiety |
| Fixed Interest | Moderate growth Deflation Falling discount rate | Strongly increasing inflation Increasing credit risk Rising discount rates |
| Cash | Tight credit environment Deflation Rising discount rates | Strong Inflation Economic boom |
| Precious Metals | Rising inflation rates Outright Deflation Falling investor confidence Low real interest rates | Rising confidence Positive or rising real interest rates |
- Defensive first – Cash, Bonds and Precious Metals (AUD) combine to underscore capital preservation and purchasing power
- Growth via diversified equity exposure improves risk adjusted returns and outperformance relative to market index
- Risk Insurance via bought derivatives portfolio adds to defensive / long volatility characteristics (e.g. stock index put options, gold call options, USD call options)
- Non-correlation is more reliable between broad asset classes (e.g. gold bullion / equities) than specific exposures (e.g. US defensive / growth stocks), enabling more efficient return from active re-balancing and volatility capture
Track Record
Calendar Year Performance
The performance numbers are based on the historical change in Net Asset Value (NAV) per unit of the Fund. Annualised return since inception: 6.1% p.a.
* 8 August 2012 start. Past Performance is not a reliable indicator of future performance. Net-of-fees performance is based on end-of-month redemption prices after the deduction of fees and expenses and the reinvestment of all distributions. Gross-of-fees performance is the net return with fees and expenses added back. Figures include changes in principal value. Investment return and principal value will vary, and an account may be worth more of less at termination than at inception. For further details, please refer to the fund’s product disclosure statement and reference guide which are available from EQT or Cor Capital.
| % change calendar year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | CYTD |
| 2024 | -0.35% | 0.76% | 6.16% | 0.59% | -0.87% | -1.50% | 5.38% | 0.65% | 2.36% | 2.20% | 16.16% | ||
| 2023 | 4.26% | -1.50% | 4.28% | 1.82% | -1.18% | -1.92% | 2.21% | 0.32% | -3.59% | 0.71% | 2.77% | 2.60% | 10.94% |
| 2022 | -1.92% | 3.61% | 1.60% | 1.43% | -3.73% | -4.81% | 0.94% | -0.95% | -1.87% | 1.86% | 4.23% | -0.60% | -0.63% |
| 2021 | -0.92% | -3.09% | -0.02% | 2.77% | 4.77% | -2.88% | 2.36% | -0.15% | -2.08% | -0.75% | 2.20% | 0.42% | 2.32% |
| 2020 | 5.87% | -1.33% | -3.82% | 2.61% | 1.49% | 0.70% | 3.56% | 0.20% | -3.95% | 0.75% | 0.16% | 1.17% | 7.19% |
| 2019 | 0.46% | 1.92% | 0.17% | 1.12% | -0.01% | 2.42% | 1.57% | 1.73% | 0.04% | -0.12% | 0.71% | -0.05% | 10.37% |
| 2018 | -1.64% | 3.31% | -0.92% | 3.30% | 0.29% | 2.91% | -3.41% | -3.70% | -1.76% | -3.68% | -2.31% | 2.25% | -5.62% |
| 2017 | 0.20% | 0.63% | 0.70% | 0.60% | 4.38% | -0.93% | 3.03% | -1.52% | 3.33% | 0.83% | 1.34% | 2.33% | 15.80% |
| 2016 | 0.43% | 3.57% | -0.44% | 2.59% | 0.59% | 1.45% | 1.73% | -0.50% | -0.21% | -1.71% | -0.71% | 1.29% | 8.26% |
| 2015 | 4.00% | 0.56% | -0.40% | -0.65% | 1.23% | -2.29% | 0.20% | -0.34% | -0.66% | 1.67% | -3.04% | -0.12% | 0.00% |
| 2014 | 0.92% | 2.34% | -1.34% | 0.51% | -0.26% | 0.76% | 1.01% | 0.10% | -1.03% | -0.13% | 0.48% | 1.93% | 5.37% |
| 2013 | 1.56% | 0.63% | -0.83% | -0.35% | -0.28% | -3.61% | 4.71% | 2.14% | -1.49% | 0.56% | -0.90% | -0.22% | 1.70% |
| 2012 | - | - | - | - | - | - | - | 2.03% | 2.25% | 0.02% | 0.16% | 0.13% | 4.64% |
Latest Monthly Reports
Most economists, when modelling market behaviour, tend to sweep major fluctuations under the rug and assume they are anomalies. What I have found is that major rises and falls in prices are actually inevitable. – Benoit Mandelbrot
Invest Here
How to invest directly.
- Review the Offer Document and Reference Guide.
- Click on the appropriate button below to start your online application.
- Alternatively, download the Application Form and follow the instructions.
How to Invest via Third Party Platforms
(including superannuation).
A platform or a 'wrap' account combines your investments such as listed securities, managed funds and shares, into one account, eliminating some of the administrative burden and paperwork that usually comes with managing individual investments separately.
Some wrap platforms are also superannuation funds that you can join as a member. You choose the investments that make up your portfolio* and the platform provider will take care of all administration such as reporting of super contributions, payment of tax, and performance reporting.
*Limitations may apply.
The Cor Capital Fund is available for investment through these organisations and providers:
PRAEMIUM • CLEARSTREAM • HUB24 • MASON STEVENS • POWERWRAP • NETWEALTH • ONEVUE • NORTH