| Report Date | 23 March 2010 |
| Manager | Pengana Capital |
| Fund Name | Pengana Emerging Companies Fund |
| Strategy | Equity Long |
| Latest Return Date | February 2010 |
| Latest Return | 1.80% |
| Latest 6 Months | 15.89% |
| Latest 12 Months | 69.58% |
| Latest 24 Months | -4.43% |
| Annualised Since Inception | 14.86% |
| Inception Date | 01 November 2004 |
| FUM (millions) | AU$354 |
| Fund Overview | The fund invests in listed (or soon to be listed) small/mid cap securities on the Australian or New Zealand Stock Exchange. It has the ability to invest in securities outside of the S&P/ASX Small Ordinaries Accumulation Index, but is precluded from investing in companies within the S&P/ASX 50 leaders Index. The fund aims to obtain returns greater than the S&P/ASX Small Ordinaries Accumulation Index over rolling 3 year periods. The fund may also invest in listed trusts.
The manager utilises a robust investment process that combines in depth fundamental research with disciplined portfolio construction and risk controls. |
| Manager Comments | Pengana's Emerging Companies Fund was up +1.8% in February with the majority of stocks in the portfolio producing strong results, of which most are not heavily exposed to the shorter term economic cycle. These included REA Group, CSG Group, Toxfree, M2 Communications, Mac Services and IOOF.
An area of disappointment for the manager was the performance of companies exposed to the mining sector, where an expected recovery in construction activity has seen delays impacting revenue growth. Looking beyond the very short term though, the manager believes that the prospects for the mining sector are very strong with new projects coming on stream.
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| More Information | » View detailed profile of this fund |
