The MM&E Capital Investment Trust No. 2 recorded a small gain of +0.36% in February, and is now up +0.58% for 2009.
The Fund profited from the takeover of Pure Energy, which both Arrow Energy and BG Group PLC are contesting, as well as the successful bid for Incremental Petroleum by TransAtlantic Australia. Convertible notes issued by St George as a result of its takeover by Westpac also benefited the Fund. Takeover activity continued throughout February, with bids for Gloucester Coal and Oz Minerals coming late in the month.
