Marathon - Net Asset Value Update - 31 October 2016


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Marathon provides access to our unique approach to investing. Our preference is to own a diverse group of assets that generate cash flows and provide an opportunity for capital appreciation with minimal risk of impairment.  Marathon may hold meaningful amounts of assets in the safety of cash – patiently protected, whilst qualifying investments are being sought after.

Net Asset Value per-share (unaudited) $100.38

Marathon is a balance between an old-fashioned public company, private equity and a hedge fund. We utilise many of the same tools as private equity and hedge fund managers – investment analysis, investment activism and adaptive management. We view our portfolio as dynamic, reacting to opportunities as they develop. However, unlike private equity firms we use little to no leverage. Compared to hedge funds, we do this all in the public forum allowing our investors greater transparency and most importantly, the ability to act on their own accord.

Marathon is managed by Menninger Investment Management Pty Limited.


About Menninger Capital

Menninger manages exclusive global investment funds for private groups of investment partners who share our unequivocal long term value investment philosophy.

Menninger is driven by passion to be a partner of world class businesses and its corporate advisory capabilities complement its investment management activities. As a partner, we act in a constructive manner to support management teams and boards in creating long lasting shareholder value.

For more information visit or call +61 7 4728 8000.

Important Information

AFS License No. 455364.

This publication is general in nature and does not take your personal situation into consideration. You should seek financial advice specific to your situation before making any financial decision. Past performance is not a reliable indicator of future performance.

We encourage you to think of investing as a long-term pursuit.

Menninger Capital represents the investment management activities conducted by Menninger Capital Pty Limited or any of its subsidiaries. Clients will be provided Menninger Capital products or services by one or more legal entities that will be identified to clients pursuant to the contracts, agreements, offering material or other documentation relevant to such products or services.

Matt Smith