The Allard Growth Fund was up +12.8% in May, consolidating its April return of +11%.
1 yr return: -12.90%. Annual (Jan 1996): +12.35%
The Fund, an equity long only fund investing in Asia, benefited from another month of strong performances in Asian markets. Key drivers included India's largest bank announcing a 22.3% increase in profits and Korea's leading provider of general and personal insurance reporting a profit increase of 25.6% year-on-year. The cash holdings of the Fund increased slightly to 20.5% as the Fund took profits for a number of holdings after recent price rises.
The total net return for the Fund since inception now stands at +376.9%.
