| Report Date | 10 August 2015 |
| Manager | Allard Partners Australia Pty Limited |
| Fund Name | Allard Investment Fund |
| Strategy | Equity Long |
| Latest Return Date | July 2015 |
| Latest Return | 2.70% |
| Latest 6 Months | 2.73% |
| Latest 12 Months | 19.85% |
| Latest 24 Months | 29.23% |
| Annualised Since Inception | 9.81% |
| Inception Date | 01 July 2003 |
| FUM (millions) | AU$134 |
| Fund Overview | Allard Partners is an absolute return, long only security investor with a single mission to provide its clients with a net compound rate of return on their capital of 15% per annum over the long term. With offices in Hong Kong, India and Australia, Allard invests in quoted companies in the Asia Pacific region. Allard's investment approach has remained consistent throughout their history. That is to invest prudently but proactively in well-managed businesses that achieve superior returns on capital in industries with long-term growth potential. The Manager uses both broad top-down guidance and detailed bottom-up analysis to identify suitable markets, industries and companies. As long only investors, a critical factor in their performance has been their preparedness to hold cash when they cannot find companies that meet their criteria or are at a sufficient discount to their valuations. |
| Manager Comments | The Allard Investment Fund's (AIF), net of all fees, increased 2.70% during the month of July 2015 (MSCI Asia Pacific ex Japan A$ +0.3%), to bring the Fund's latest 12 month performance to 19.85% with a volatility of 7.88%.
For the month of July, the Fund's portfolio was invested 77.7% in equities and 22.3% in cash and fixed income. The Fund continues to have most exposed to the Financial Services industry at 18.2%, Conglomerates at 10.7% and Telco's at 10.1%. The portfolio's geographic exposure was in Hong Kong / China at 43.2%, Singapore 10.7% and Korea 9.4%. The top 5 holdings had 39.7% concentration of the portfolio and 17.5% in the next 5 holdings.
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