| 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 Fund's core holdings in Afterpay, Carvana, Pinduoduo and Pointsbet performed well over the year. Frazis noted the Fund is already starting to reap the rewards of increasing their investments in those companies this year. The Fund is now concentrated into seven core investments: US software (Twilio, Alteryx, MongoDB, Shopify), Afterpay, Carvana, Diagnostics (Exact Sciences and Guardant Health), Pinduoduo, a small number of high growth Australian smallcaps such as Pointsbet, and life sciences (drug development, DNA synthesis, tissue regeneration and genetic science). The Fund's average portfolio organic growth rate is tracking at over 80%. Frazis expect this to slow, however they believe it's reasonable to expect the Fund's companies to be over 50% larger on a revenue basis 12 months from now. Frazis expect the next move in interest rates in Australia to be up, with corresponding increase in the AUD. |
| More Information |
