| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| 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 | The Frazis Fund rose +7.5% in November, outperforming AFM's Global Equity Index by +3.1%. This follows from the Fund's October return of +7.6% and takes CYTD performance to +29.35% versus the Index's +27.55%. The Fund benefited from strong contributions from Carvana and Amarin during November. Amarin is a US biotech company marketing pure EPA, a component of fish oil. Frazis noted research results released in Japan and also by Amarin both showed EPA to be capable of reducing the risk of heart attack on a similar order of magnitude as statins. Frazis remain excited about this opportunity. This month Frazis have also released an Insights article, 'A blood test for cancer', in which they discuss their views on Guardant Health, a new company in the portfolio developing a blood test for cancer. Frazis Capital Partners are pleased with how the fundamentals underlying the Fund's long-term investments are progressing. These are in companies they've discussed in previous months' performance reports, including Afterpay, Carvana, Pinduoduo, Amarin, Pointsbet, diagnostics and US software. They noted that, after a long period of investment over the past year, they are hoping to reap the rewards of these investments over the next few years and are also optimistic the Fund's good fortune in the life sciences will continue. |
| More Information |
