The Prime Value Growth Fund lost -2.4% in February, and is down -4.7% over the last three months. The Prime Value Imputation Fund posted a larger loss of -4.1%, and is down -11.8% over three months.
An overweight position in industrial stocks in both funds, including BHP and CSR, weighed on performance. The significant cash holdings in both funds and an underweight positions in financials partially offset this weakness. In more positive news, the manager reported that the Growth Fund continued to enjoy net inflows in February, and both funds' higher than normal cash holdings have put them in a strong position to take advantage of future opportunities.
