SMA – US Growth

Last update - 5 July 2023 By Rivkin

In June 2019, Perpetual and Apex started using Rivkin Portfolios in their Separately Managed Account (SMA) offering that gives investors the opportunity to follow our proven strategies. Rivkin runs four portfolios that are offered through the SMA platform. Each portfolio is designed for a different investor type ranging from growth to defensive. Here you can find more information on our US Growth Portfolio.

Portfolio Overview

The US Growth portfolio will source investments from the S&P100 & Nasdaq100. It is a combination of stocks generated from our US Momentum and US Value strategies. It is a relatively concentrated portfolio, focused on achieving returns via capital growth. Our suggested investment horizon is four to five years.

# of Stocks
Investment Universe Minimum Rec. Time Frame Minimum Investment Amount Standard Risk Measure
Diversified Portfolio Holding US Growth Stocks 0-30 Nasdaq 100 and S&P500 5 years 70,000 AUD 6 – High

Table 1: Summary of US Growth Portfolio


Investment Approach

The US Growth portfolio combines two underlying systematic strategies, being Momentum and Value, both of which focus on capital growth.

Our US Momentum strategy uses a relative momentum ranking process, based on a company’s share price performance over the prior six to twelve months. Such an approach is based on the premise that companies that have been the top-performing over the medium term, typically continue to out-perform over the short term. The ‘momentum effect’ has been a focus of academic research for many years and has shown considerable reliability across many developed equity markets as a ‘factor’ that reliably out-performs the broader market. The US Momentum strategy uses an ‘Index Filter’, which means that the strategy will sell out of all stocks should the broader market trend turn down. During such times, the momentum stocks will be replaced by a portfolio of defensive ETFs, which tend to perform well during equity bear markets.

The US Value strategy focuses on fundamental factors of a company’s earnings quality, which have historically led to share-price out-performance over the medium term. More specifically, the strategy ranks stocks within the S&P100 and Nasdaq100 on both ‘Accrual to Earnings’ and ‘Return on Capital Employed. Research has shown that companies with low accrual to earnings have more sustainable earnings, which flows through to better share price performance, while companies with a high return on capital employed demonstrate those that are most efficient with their capital use. When combined, these two approaches select for companies that have potential for strong earnings and thus share price growth into the future.


Portfolio Management

For both the US Momentum and US Value strategies, the ranking of stocks is refreshed on a monthly basis. This means that stocks that have fallen out of the top seven ranked will be sold and replaced by those now within the top seven ranked.


Features of Separately Managed Account

  • Choose from four professionally constructed portfolios depending on your needs
  • All portfolio management is taken care of for you
  • Access Rivkin’s systematic strategies that have proven themselves in live trading in our retail advice product
  • Obtain institutional brokerage rates that are not typically available to individual investors
  • Execution is performed using algorithms that spread trading out across the day to obtain a fair price
  • No upfront cost – management fees are deducted from your account on a monthly basis

For a complete list of risks and costs involved with Apex Separately Managed Accounts please refer to the Product Disclosure Statement. This PDS has been prepared and issued by The Trust Company (RE Services) Limited (ABN 45 003 278 831, AFSL 235150)

Please click here or request the PDS to understand the full risks and cost of the product before making a decision to invest in it.



Important Notice: Please consider your own financial situation before investing in our products. Rivkin does not provide personal financial advice and does not take anyone’s personal financial situation into account when structuring its model portfolios.

Past performance and/or backtesting is not a guarantee of future performance. Investing and trading carry financial risk, when judging performance please consider the different types of investments and levels of risk associated.

To learn more about how we calculate performance click here.

This PDS has been prepared and issued by The Trust Company (RE Services) Limited (ABN 45 003 278 831, AFSL 235150) as the responsible entity and the issuer of units in the Apex Separately Managed Account. It is general information only and is not intended to provide you with financial advice, and has been prepared without taking into account your objectives, financial situation or needs. You should consider the product disclosure statement, available on, prior to making any investment decisions. If you require financial advice that takes into account your personal objectives, financial situation or needs, you should consult your licensed or authorised financial adviser. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information.

All opinions and estimates constitute judgments of Rivkin and are subject to change without notice. These statements should therefore not be relied upon as an accurate representation or prediction as to any future matters. No company in the Perpetual Group (Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantees the performance of any fund or the return of an investor’s capital. Past performance is not indicative of future performance.

PERPETUAL BEING THE ISSUER AND RESPONSIBLE ENTITY UNDER The Trust Company (RE Services) Limited (Perpetual, Responsible Entity, RE, we, us or our), part of the Perpetual Group ABN 45 003 278 831 AFSL No 235150

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