| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The managers of the fund intend to maintain a concentrated portfolio of investments in ASX listed companies that they have investigated and consider to be undervalued. They will assess the attractiveness of potential investments using a number of common industry based measured, a proprietary in-house model and by speaking with management, industry experts and competitors. Once the managers form a view that an investment offers sufficient upside potential relative to the downside risk, the fund will seek to make an investment. If no appropriate investment can be identified the managers are prepared to hold cash and wait for the right opportunities to present themselves. |
| Manager Comments | The Manager noted that the Fund's PE ratio (based on the weighted average of all stocks in the portfolio) at the end of June was 9.21 whilst that of the market was 17.27, underlying the Fund's strategy of investing in businesses priced cheaply relative to the market. As at the end of June the Fund's cash holdings decreased to 22% from 28% at the end of May. Sirtex (ASX: SRX) contributed positively to the Fund's performance whilst the manager re-entered a position in Cash Converters (ASX: CCV) which had previously been closed out at a loss and had contributed negatively. The Manager believes that both companies remain well positioned for growth. Looking forward Collins St see a number of issues which cause them concern, including high market valuations, a stretched property market, and high levels of consumer debt. |
| More Information |
