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| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
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| FUM (millions) | |
| Fund Overview | 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 main contributors to the positive result in June were gains in Link Administration, James Hardie, Collins Foods, Updater and Audinate, plus short positions in Stockland and Metals X. At the end of the month the Fund had 36 long positions and 19 short positions. Many of the Fund's strongest performers from FY15 and FY16 partially retreated mainly as a result of market rotation, along with some specific issues, and citing as an example Netcomm Wireless, which had contributed 9% of the Fund's gross performance in FY16 (when the Fund returned a net 37%) giving back 1.7% in FY17. |
| More Information |
