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| Manager | |
| Fund Name | |
| Strategy | |
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| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
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| FUM (millions) | |
| Fund Overview | The manager follows a disciplined, process-driven, and thematic strategy focused on five core investment strategies: 1) Growth stocks that are really value stocks; 2) Traditional deep value; 3) The life sciences; 4) Miners and drillers expanding production into supply deficits; 5) Global special situations; The manager uses a macro overlay to manage exposure, hedging in three ways: 1) Direct shorts 2) Upside exposure to the VIX index 3) Index optionality |
| Manager Comments | Top contributors included Carvana, Afterpay, Stanmore Coal, Amazon and Facebook. Detractors included Aurelia Metals, Bluebird Bio, iQiyi, Oxford Biomedica and the Fund's short book. Frazis noted that as the portfolio rallied this year (+23% YTD) they have been steadily increasing their short positions in structurally flawed sectors. These shorts were increased further in the first week of May. In the latest report the manager gives a brief summary of the Fund's structural shorts. Frazis say their portfolio is positioned more conservatively than ever. |
| More Information |
