The PM Capital Absolute Performance Fund gained an outstanding +21.2% in April on the back of a strong weighting towards the technology sector.
Technology stocks, which comprise 23% of the Fund's portfolio, made broad based gains during the month, with KLA Tencor and Novellus providing strong returns for the Fund. UK stocks, including Barclays, Lloyds and Royal Bank of Scotland also made positive contributions to overall return. Negative returns on currency markets partially offset these gains, however due to increased Australian dollar hedging and option strategies these losses were limited.
PM Capital also recording gains in their two other absolute return funds, the Australian Opportunities Fund up +8.3% for the month and the Enhanced Yield Fund up +2.5%.
