Rating Reports

HCAP rated 4.00 Stars by SQM Research

SQM Research, a specialist investment research house, has rated HCAP for the fourth consecutive year –  4.00 Stars Superior Suitable for inclusion on most APLs).

Commenting on the rating, Steve Howell, CEO of HCAP Group, said “HCAP’s management has skin in the game and shares the development profits with SAT investors, aligning interests.  We have a very strong risk management and compliance focus to ensure risks are measured, isolated and managed. We aim to meet or exceed investor expectations”.

SQM Research – descriptions for each of the star ratings:

4.5 stars and aboveOutstanding: Highly suitable for inclusion on APLs.
4 stars to 4.25 starsSuperior: Suitable for inclusion on most APLs.
3.75 starsFavourable: Consider for APL inclusion.
3.5 starsAcceptable: Consider for APL inclusion, subject to advice restrictions.
3.25 starsCaution required: Not suitable for most APLs.
3 starsStrong caution required: Not suitable for most APLs.
Below 3 starsAvoid or redeem: Unapproved.
Hold – The rating is currently suspended until SQM Research receives further information. A rating is typically put on hold for a period of 2 days to 4 weeks.
Withdrawn – The rating is no longer applicable. Significant issues have arisen, and investors should avoid or redeem units in the fund.


The SQM rating is issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.