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| Fund Overview | Paragon accepts that markets are not always efficient in pricing information into securities and that no one investment style works in every stage of the investment cycle. Subsequently Paragon adopts a top down thematic led approach to identify companies exhibiting sustainable or improving returns on capital driven by volume growth, pricing power and competitive advantages. Paragon utilises both quantitative analysis to provide probability weighted high/low/base case valuations and qualitative analysis in assessing management, the business model and likely direction of returns. Paragon will allocate assets to each investment opportunity based on a risk/reward profile. Positions have defined investment parameters and risk limits, which are then monitored on an ongoing basis. |
| Manager Comments | Volatility was 13.36% as compared to the Index at 8.23%. The Sortino ratio was 7.97 (Index 3.27) with the Up and Down Capture ratios 1.47 and -1.16. Key drivers of the Paragon Fund performance for July included strong returns from our resource investments in Liquefied Natural Gas, Triton Minerals, Orocobre Ltd and OZ Minerals. Industrial firms Crown Resorts and G8 Education also had strong months. At the end of June the fund had 25 long positions and 4 short positions. |
| More Information | » View detailed profile of this fund |
