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| Strategy | |
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| Fund Overview | The Fund's investment strategy seeks to identify low-risk entry opportunities and then build positions in these stocks. Once established in the portfolio, individual stock holdings are maintained for as long as their long-term upward trend remains intact and while they continue to make positive contributions to portfolio growth. Positions are reduced and ultimately closed out as their trends become exhausted or as their relative long-term performance against the broad market weakens. The Fund believes that longer time frame investments also provide a number of advantages. The effect of false signals and 'noise' which attend shorter term time frames is mitigated by only attending to signals which are confirmed by our longer term assessments. Also, the Fund gains exposure to the more expansive price trends which can last for months and years, allowing dividends and distributions received during this time to further enhance portfolio returns. |
| Manager Comments | In October, some of the Fund's stronger performing stocks gave new opportunities and therefore the Fund increased these holdings. As a consequence the number of holdings in the portfolio decreased from 82 in the prior month to 79 stocks. The portfolio cash remained at about 1% and at month end the portfolio was fully invested. The Fund's bottom-up stock selection resulted in significant non-correlation to the broad market allocations.The top 10 holdings accounted for over 29% of the portfolio. By the end of October the stocks that met the Fund's strategy increased from 6.7% to 10.3% of the liquid stocks on the ASX, which the Fund expects will provide further investment opportunities. Click below to read the latest Fund Manager's commentary on the Fund. |
| More Information |
