| 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 | At the end of July, stocks in the Fund's portfolio had an average PE ratio of 8.88x versus that of the ASX200 which was 16.88x, indicating the Fund is continuing to trade in line with its objective. The portfolio's cash holdings decreased to 18% from 22% at the end of June. The Manager notes that they continue to be aware of market risks, with particular focus on tax changes on property for foreign investors and the effect of the removal of stamp duty concessions on the construction industry and property prices. |
| More Information |
