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| Fund Overview | Paragon believes that markets are not always efficient, exhibiting a common tendency to price securities well outside of their intrinsic value over the medium term. This market characteristic provides the opportunity for Paragon, an active manager with a flexible mandate, to generate superior investment returns over the longer term. Paragon believes that it is critical to understand both the companies and the industries in which they operate, in order to fully comprehend each investment opportunity. Accordingly, a fundamental approach to company research is taken. Assessing the potential downside is also paramount in framing the risk/reward trade-off for potential investments. |
| Manager Comments | Key positive contributors for July included Yowie Group, Henderson Group, Orora, Mayne Pharma and Senetas. The portfolio had the most net exposure in Industrials at 52.7%, followed by Financials at 21.90%. At the end of the month the Fund had 30 long positions and 15 short positions. Click below to read the latest Fund Manager's commentary. |
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