| Report Date | 08 June 2017 |
| Manager | Paragon Funds Management |
| Fund Name | Paragon Australian Long Short Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | May 2017 |
| Latest Return | 1.30% |
| Latest 6 Months | -5.48% |
| Latest 12 Months | -16.67% |
| Latest 24 Months | 3.37% |
| Annualised Since Inception | 11.83% |
| Inception Date | 28 February 2013 |
| FUM (millions) | AU$73.8 |
| Fund Overview | The Fund is a concentrated long/short Australian equities product that is fundamentally driven with a focus on the industrial and resource sectors. Paragon's own research process and active portfolio management is overlaid with risk management and an overarching focus on capital preservation.
Paragon believes that markets are not always efficient, exhibiting a common tendency to price securities well outside of their intrinsic value over the medium term. This market characteristic provides the opportunity for Paragon, an active manager with a flexible mandate, to generate superior investment returns over the longer term.
Paragon believes that it is critical to understand both the companies and the industries in which they operate, in order to fully comprehend each investment opportunity. Accordingly, a fundamental approach to company research is taken. Assessing the potential downside is also paramount in framing the risk/reward trade-off for potential investments.
|
| Manager Comments | The Paragon Australian Long Short Fund rose 1.30% for the month of May, outperforming the S&P/ASX 200 Accumulation Index, which returned -2.75%, by +4.05%. The Fund's annualised return of 11.83% p.a., remains in excess of the ASX 200 Accumulation Index's 7.4% p.a. Main contributors to the positive result in May were gains in Kidman Resources, Aristocrat Leisure, Agrimi, and Global Geoscience, plus short positions in Select Harvest and Super Retail Group. At the end of the month, the Fund had 34 long positions and 19 short positions, with 47.5% of the portfolio in cash. |
| More Information |
|
