Platypus Asset Management recorded a small gain of 0.6% in December, bringing the result for the year to a loss of 44.9%. The manager said that the improvement was driven by holdings in consumer stocks such as JB HiFi and David Jones, although Billabong International had a negative impact.
The manager increased the fund's exposure to financial stocks to 35% of assets during the month, buying into NAB and ANZ. With RIO Tinto continuing to weigh heavily on the fund's performance the manager exited this position, instead concentrating on BHP and Woodside in the resources sector.
