The PM Capital Absolute Performance Fund returned +2.4% in May, following in from a strong +21.2% gain in April.
1 yr return: -27.08%. Annual (Oct 1998): +4.38%
As an equity long/short fund investing in global markets, the Fund continued to benefit from the current rally in equity markets worldwide. The Fund remained fully invested during the month due to attractively priced capital raisings and good value stocks. US banks and brewing stocks were key positive contributors to performance, while technology stocks proved to be the biggest drag.
