| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | |
| Manager Comments | The most significant contributors to performance were Vision Eye Institute, GBST and QBE while Astro Japan and UXC detracted from performance. The Manager notes that there are more stocks that usual in the Value Fund currently. The Fund has been buying small amounts of a number of mining and mining services business as the investment market for these stocks has capitulated, particularly in the last few weeks of June. Liquidity has been a problem once the Fund started buying share prices have often quickly moved against it and the Fund has no intention of establishing large positions in any of these stocks. But with some trading at significant discounts to net cash or huge discounts to net tangible assets and, in one particular example, less than 1.5 times earnings, the Manager's view is that a basket of them could perform well even if the worst China fears are realised. The number of holdings should remain under 20, but the Fund could end up with quite a few stocks in this space. |
| More Information | » View detailed profile of this fund |
