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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 | The Fund has a 12 month Sharpe ratio of 2.33 (Index 1.40) and Sortino ratio of 7.01 (2.79) with Up and Down Capture ratios of 1.46 and -1.16 respectively. At month-end the Fund was 81.7% long, 10.1% short and held 28.4% cash. Key drivers of the Paragon Fund performance for August included strong returns from Orocobre, Orora, G8 Education and our short position in JB Hi-Fi, offset by falls in our resource holdings, and Xero. At the end of August the fund had 21 long positions and 7 short positions. |
| More Information | » View detailed profile of this fund |
