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| Fund Overview | MHOR looks for investment that exhibit the following set of characteristics: -Opportunity - to take advantage of growth and positive alignment with industry themes and trends. -Quality business - competitively advantaged product or service offering. -Financial flexibility - appropriately resourced to capture its opportunity. -Management - with the vision and capability to bring it all together. -Fundamentally undervalued. MHOR also considers labour standards, environmental, social and ethical considerations when making investment decisions but only to the extent that these factors impact the assessment of risk or return. There is a high level of risk associated with this fund, therefore the minimum suggested investment timeframe is 3-5 years. |
| Manager Comments | The Fund entered December 2016, with 34 stocks (including 1 unlisted) and just 1.4% as cash, in aims to take advantage of the post-Trump rally. In December, the Fund changed course, with the later part spent preparing the Fund for the upcoming earnings season, steadily de-risking the portfolio into market strength and raising cash. At month end, the Fund had 33 stocks and cash increased to 11.2%. The Fund's largest positive contributions came from Spirit Telecom (ST1), Robo 3D (RBO) and Nextdc (NXT). The only major detractor for the month was Ellex Medical Lasers (ELX). The portfolio continues to have growth bias and has considerable exposure to smaller 'undiscovered' stocks as the team believes these have attractive growth opportunities. Click below to learn more about the Fund. |
| More Information |
