Tristan Waine is a Certified Public Accountant (CPA) who began investing at age 14, starting with blue chip stocks purchased with earnings from his first job at McDonald's in 2011. He pursued a commerce degree in Australia specializing in Accounting and Financial Planning and worked his way up from undergraduate accountant to assistant manager before transitioning to fund management. Having built a substantial personal portfolio and discovering a realistic pathway to funds management, he launched the Hurdle Rate Unit Trust as a small private vehicle that now serves 18 investors excluding himself.

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The Hurdle Rate Unit Trust focuses exclusively on professional and financial services businesses within the manager's circle of competence, avoiding other sectors entirely. The fund pursues absolute returns with minimal reliance on market forces, emphasizing capital preservation while targeting a 20% compound annual return. The investment approach combines deep fundamental analysis with active portfolio management, including nearly 100% turnover when justified by changing fundamentals or position sizing opportunities.

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