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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 | The investments in Praemium (PPS), Opus Group (OPG), Speedcast (SDA) and PSC Insurance (PSI) delivered positive returns for the month. However, within the portfolio of 25 investments, the majority experienced some price weakness. The biggest detractor for the month was Vita Group (VTG) -18%; a company that had previously been a strong performer for the Fund. Other underperformers included Freelancer (FLN), Bellamy's (BAL) and Afterpay (AFY). Throughout the recent market volatility, the Fund deployed a small portion of their high cash balance to opportunistically increase positions in some of their preferred companies on share price weakness. The Fund continues to look for new investment opportunities that they consider to be at the right price. Click below to read the latest Fund Manager's Report. |
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