Elstree Investment Management Limited

AFSL 225721

People

The Executives Directors of Elstree are:

Campbell Dawson (B.Comm) CFA

Campbell has over 30 years of investment management experience. From 1993 to 2000 he was head of fixed interest at GIO Asset Management where he was responsible for the team that managed over A$6 billion of domestic and international fixed interest securities.

At the end of December 1999 GIO Asset Management was in the top quartile of the Mercer survey for all periods from 1 to 5 years. The fund was ranked number 2 over 1 year, number 1 over 2 years and number 1 over 3 years.

In addition to investment management, Campbell has extensive experience in debt workouts, structured finance, insurance and financial institution asset / liability management, securitisation and an understanding of corporate treasury issues.

Campbell is responsible for research, portfolio construction and risk management.

Norman Derham (B.Ec)

Norman has over 30 years experience in the Financial Services Industry including 3 as Head of Fixed Income Trading and Sales at the National Australian Bank in London.

From 1990 to 1994 Norman was Victorian Manager Fixed Income Sales and Distribution at the National Australia Bank in Melbourne. In 1994 he was transferred to London as Head of Trading and Sales.

In addition to sales and distribution Norman has extensive experience in funds management, derivatives trading, relationship management, writing and editing.

Norman is responsible for business development, investor relations and compliance.

John Abbott (B.Comm)

John Abbott has had over 25 years experience in fixed interest markets in a variety of roles.

From 1989 to 2000 he was with the GIO group where he was responsible for the management of AUD fixed interest, including the highly ranked Australian Fixed Interest Fund. In addition he was responsible for the DEM/EUR portion of the fixed interest assets.

Between 2000 and 2002, John worked at AMP/Henderson and at ABB where he was responsible for the principal trading division of ABB

He has experience in a wide range of fixed interest instruments including listed floating rate credit.

John is responsible for managing the portfolio on a day to day basis.

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Our Funds

Elstree Hybrid Fund Dividend Reinvestment Plan Rules.


For information regarding the Elstree Hybrid Fund's Dividend Reinvestment Plan (DRP) please Click here


Elstree Enhanced Income Fund NAV

Latest: 23 November 2021 $0.8655.
Previous: 16 November 2021 $0.8642.

Previous month end: COB 29 October 2021 $0.8628.

Find Out More

To view the latest Monthly Review Click here

To download the Elstree Enhanced Income Fund's NAV history updated on 6 September 2021. Click here


Latest Fact Sheet: Updated June 2021

Elstree Enhanced Income Fund. To view the latest Fact Sheet Click here

The introduction by ASIC of DDO has implications for short term hybrid security issuance


DDO stands for Design and Distribution Obligations. It is a laudable ASIC initiative to make sure that consumers are provided with appropriate financial products. To find out just how it impacts hybrid security issuance we invite you to Click here.

Will they or won't they cut bank dividends?


Will the banks continue to pay dividends on their ordinary shares or will they stop paying them and what are the implications for investors in hybrid capital instruments?

There has been much said and written about this lately and we couldn't let the opportunity pass without comment. 

To view our thoughts in more detail Click here

Inflation siren songs. Be careful what you wish for.


We've read about it in the press, we've read about it in blogs and we've read about it in broker research notes. We are of course talking about inflation.

While we don't think an outbreak is imminent we understand that policy makers might have a secret ambivalence to manufacture some because of what it does to debt to GDP ratios. We suggest that (perhaps) manufacturing above trend inflation for a period might not be such a good idea given what it did to real returns and markets in the 1970's.

To read our thoughts in more detail please
Click here

Elstree Enhanced Income Fund achieves 5* Morningstar quantitative rating

Click here for details.

How do hybrids perform in periods of stress.


To read our thoughts in more detail please
Click here