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| Fund Overview | The main driver of identifying potential investments will be bottom up company analysis, however macro-economic conditions will be considered as part of the investment thesis for each stock. |
| Manager Comments | The Fund returned -3.26% in December. Glenmore noted it was a relatively quiet month with respect to announcements from the Fund's holdings. The Fund managed to avoid any stocks that announced specific profit downgrades, however, Glenmore say negative sentiment towards stocks was again the key theme which thus resulted in many stocks declining despite no news. The main positive contributor for the month was Hotel Property Investments. Detractors included NRW Holdings (-11.5%), Jumbo Interactive (-12%), Atlas Arteria, Magellan Financial Group, Worley Parsons and Mastermyne. |
| More Information |
