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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 August included Longs in APN Outdoor, NetComm Wireless and St Barbara Gold and Shorts in Origin, Santos and Orica. However these were offset by the net positive equity exposure, and holdings in Nanosonics, Senetas and Orocobre. At the end of the month the Fund had 29 long positions and 17 short positions. Click below to read the latest Fund Manager's commentary. |
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