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| Fund Overview | The Fund is managed as one portfolio but comprises and combines two separately managed exposures: 1. An investment in the top 20 stocks of the markets, which the Fund achieves by taking an indexed position in the S&P/ASX 20 Index; and 2. An investment in the stocks beyond the S&P/ASX 20 Index. This exposure is managed on an active basis using a fundamental core approach. The Fund may also invest in securities expected to be listed on the ASX, securities listed or expected to be listed on other exchanges where such securities relate to ASX-listed securities.Derivative instruments may be used to replicate underlying positions and hedge market and company specific risks. The companies within the portfolio are primarily selected from, but not limited to, the S&P/ASX 300 Accumulation Index. The Fund typically holds between 40-55 stocks and thus is considered to be highly concentrated. This means that investors should expect to see high short-term volatility. The Fund seeks to achieve growth over the long-term, therefore the minimum suggested investment timeframe is 5 years. |
| Manager Comments | The Fund benefited over the month from strong share price gains in Aristocrat Leisure, Ramsay Health Care, and Domino's Pizza Enterprises. For the month of July, the sector exposure of the actively managed portion of the portfolio deviated from the S&P/ASX 300 Accumulation Index to be overweight in the Discretionary and Health Care sectors and underweight in the REITs and Materials sectors. The investment team believes that the companies in which they are invested are well positioned and increasingly adding to smaller positions as they gain confidence in their outlook and find new stocks in which to invest. Click below to read the latest Fund Report. |
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