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| 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 | Main contributors for July were gains in Agrimin, Global GeoScience, FastBrick Robotics and Lynas and shorts in Coca Cola and Westgold. These were offset by falls in offshore earners on the back of the rallying AUD. At the end of the month the Fund had 38 long positions and 19 short positions. Paragon continue to invest in key themes which typically make up 80% of the Fund's exposure, currently being Offshore Growth, Ageing Population, Electric Vehicles and Mobile Internet. |
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