St Helens' June performance produced positive returns from both longs (+ 5.10%) and shorts (+0.40%), with the best performing sectors being Materials (+ 2.70%), Financials (+ 1.20%) and Telcos (+ 1.00%).
Ailsa: 1 year return: +28.36%. Annual (Jan.2002): +13.11%
Arran: 1 year return: +27.8%. Annual (Aug.2004): +9.69%
Commenting on the performance, the manager said that in June and into July markets were dominated by the approaching US reporting season, where they believe that much of the bad news is already factored in, and thus should see markets moving cautiously higher. They also noted that economic data in June continued to show signs of improvement, with consumer sentiment rising 12.7% higher (now up 18% on pcp), the second largest monthly rise on record, and new motor vehicle sales rising and building approvals exceeding market expectations.
St Helens was established in January 2002, initially managing a local Australian fund and managed accounts, before establishing the Arran offshore fund in the Caymans in August 2004. Total St Helens group FUM is approximately $100m with an annualised return since inception of +12.77%.
