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| Fund Overview | Cyan C3G Fund is based on the investment philosophy which can be defined as a comprehensive, clear and considered process focused on delivering growth. These are identified through stringent filter criteria and a rigorous research process. The Manager uses a proprietary stock filter in order to eliminate a large proportion of investments due to both internal characteristics (such as gearing levels or cash flow) and external characteristics (such as exposure to commodity prices or customer concentration). Typically, the Fund looks for businesses that are one or more of: a) under researched, b) fundamentally undervalued, c) have a catalyst for re-rating. The Manager seeks to achieve this investment outcome by actively managing a portfolio of Australian listed securities. When the opportunity to invest in suitable securities cannot be found, the manager may reduce the level of equities exposure and accumulate a defensive cash position. Whilst it is the company's intention, there is no guarantee that any distributions or returns will be declared, or that if declared, the amount of any returns will remain constant or increase over time. The Fund does not invest in derivatives and does not use debt to leverage the Fund's performance. However, companies in which the Fund invests may be leveraged. |
| Manager Comments | Positive performers for the month included Skydive the Beach (SKB), Adacel Technologies (ADA), Abundant Produce, (ABT), Nick Scali (NCK) and TasFoods (TFL). Investments negatively impacting the return included AMA Group (AMA), Speedcast International (SDA), and Sealink Travel (SLK). In response to managing absolute risk, the Fund reduced their exposure in Abundant Produce (ABT), Aha Life (AHL) and TouchCorp (TCH). However, the changes in price and specific company dynamics lead the Fund to increase their positions in Afterpay (AFY), Bellamy's (BAL) and Skydive the Beach (SKB). The portfolio held between 20 and 35 companies at any one time. Click below to read the latest Fund Manager's Report. |
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