| 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 | 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 | Top performers during the month included Syrah Resources (+16%), SpeedCast International (+9%) and G8 Education (+6%). One major detractor was TopBetta Holdings (-20%), sold off sharply after an article referenced RBW Nominees, one of TopBetta's shareholders, and raised issues related to misappropriated client funds by one of their associates. MHOR view this as 'noise' with no change to the underlying fundamentals, they expect further positive market updates as their internally tracked numbers suggest TopBetta are on track to exceed their $75m turnover forecast. MHOR believe that, with earnings season out of the way, near-term market sentiment will likely be macro driven. Their view is that fundamentals remain supportive of global equities. MHOR remain confident that the Fund is well positioned to outperform its benchmark (ASX Small Ords) with a diversified portfolio leveraged to multiple structural growth themes and trends, as well as a number of overlooked classic value plays. |
| More Information |
