| Report Date | 15 March 2010 |
| Manager | Platypus Asset Management |
| Fund Name | Platypus Australian Equity Fund |
| Strategy | Equity Long |
| Latest Return Date | February 2010 |
| Latest Return | 2.90% |
| Latest 6 Months | 7.95% |
| Latest 12 Months | 53.79% |
| Latest 24 Months | -8.56% |
| Annualised Since Inception | 15.38% |
| Inception Date | 01 December 1998 |
| FUM (millions) | AU$1805 |
| Fund Overview | The investment style is growth with a small-cap bias. Index weightings are largely ignored, which typically creates a high tracking error portfolio. Although its investment philosophy has not changed since inception, the manager has gradually concentrated the portfolio over time. Typically, the portfolio consists of 25 to 35 stocks, with approximately 50% of the investment in relatively large and liquid companies. Investment strategies are undertaken with complete independence and while external resources are utilised as part of the process, investment decisions are generated internally., Areas such as percentage down from cost, weighting percentages, increases relative to time and company downgrades are covered by strict sell guidelines. |
| Manager Comments | The Platypus Australian Equity Fund was up 2.9% in February, outperforming its ASX/S&P300 Accumulation Index benchmark by 0.9%. The manager attributes the outperformance to careful stock selection, having no holdings in the telecommunications sector but benefitting from good returns in the financial and materials sectors.
Total turnover in the month was only 5% which the manager says is low for a company reporting period. The fund finished the month with 9% held in cash.
Platypus believes that earnings are now growing sequentially, and that there is a low probability of the market reversing. |
| More Information | » View detailed profile of this fund |
