The Allard Growth Fund posted a strong gain of +11% in April, after rising +8.3% in March.
This result puts the Fund's 2009 return back in the black, and it now stands at +6.6%. With almost 80% of the Fund's portfolio invested in equities, and with equity markets up sharply in April, the strong result for the Fund comes as no surprise. The Fund also benefited from stronger Asian currencies against the US dollar, a trend the manager believes will continue to contribute positively to the Fund's overall return. Although the Fund's cash position remained relatively unchanged overall, the manager did increase exposure to Australian and Indonesian equity markets, while reducing positions in Thailand and China, due to political instability and a strong price performance respectively.
The Allard Investment Fund also performed strongly in April, up +7.8%, with a 2009 return of +4.1%.
