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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. The minimum suggested investment timeframe is 3-5 years. |
| Manager Comments | In June three of the Fund's largest positive contributions came from disruptive gaming company TopBetta Holdings (TBH), Imdex (IMD) a leading provider of drilling fluids and downhole instrumentation to the global minerals industry, and child care provider, G8 Education (GEM). The major detractor for the month was medical device company AirXpanders (AXP). Looking forward the Manager is of the view that many of the macro tailwinds which have driven global equities higher over the past six months appear broadly intact, including the US economic recovery, now in its seventh year, which shows no signs of faltering, (notwithstanding uncertainties surrounding 'Trumponomics'), economic data out of Europe continues to improve, while recent Chinese economic data has also surprised to the upside. |
| More Information |
