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| Strategy | |
| Latest Return Date | |
| Latest Return | |
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| Latest 24 Months (pa) | |
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| FUM (millions) | |
| Fund Overview | The investment process involves a combination of top-down analysis with fundamental bottom-up qualitative and quantitative research to derive a risk-adjusted discounted cash flow (DCF) valuation of companies in the target universe. The investment team will generally buy stocks from the pool of securities that are trading below Loftus Peaks' valuation and sell them when they are trading above Loftus Peak's valuation. The approach allows for both fundamental accounting information as well as market-oriented inputs to be factored into the portfolio construction process. Loftus Peak's model typically does not rely on leverage to deliver investment returns and specifically takes into account risk in the valuation process. Capital preservation can be managed by holding up to 50% cash. Index and currency options and futures may also be used to manage risk. |
| Manager Comments | The Fund returned -2.54% in September. Top contributors included Apple, Google and Nutanix, while Netflix, Blackberry and Xilinx all detracted from performance. The Australian dollar appreciated +0.1% over the month against the US dollar, which meant the value of the Fund's US dollar positions decreased. As at 30 September 2019, the Fund carried a foreign currency exposure of 95%. At month end, the Fund was 87% invested in 20 holdings with the balance in cash. |
| More Information |
