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| Fund Overview | |
| Manager Comments | The Fund's unit price increased by 3.9% in July, with the largest positive contributions coming from our holdings in Wyndham, BNY Mellon, BAT and General Mills. Coach was the sole detractor for the month as it continues to face temporary competitive pressures in its North American business. The Fund benefitted from further depreciation of the Australian dollar in July, having no foreign exchange hedging in place. Global financial markets recovered some of their composure in July following reassuring comments from the US Federal Reserve emphasising that any decision to taper is conditional on further economic recovery, specifically continued improvement in the US labour market. The Q2 corporate earnings season has so far been coming in ahead of low expectations. |
| More Information | » View detailed profile of this fund |
