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| Manager | |
| Fund Name | |
| Strategy | |
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| Latest Return | |
| Latest 6 Months | |
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| Latest 24 Months (pa) | |
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| FUM (millions) | |
| Fund Overview | Paragon's unique investment style, comprising thematic led idea generation followed with an in depth research effort, results in a concentrated portfolio of high conviction stocks. Conviction in bottom up analysis drives the investment case and ultimate position sizing: * Both quantitative analysis - probability weighted high/low/base case valuations - and qualitative analysis - company meetings, assessing management, the business model, balance sheet strength and likely direction of returns - collectively form Paragon's overall view for each investment case. * Paragon will then allocate weighting to each investment opportunity based on a risk/reward profile, capped to defined investment parameters by market cap, which are continually monitored as part of Paragon's overall risk management framework. The objective of the Paragon Fund is to produce absolute returns in excess of 10% p.a. over a 3-5 year time horizon with a low correlation to the Australian equities market. |
| Manager Comments | The Fund's down-capture ratio (since inception) of 75% indicates that the Fund has typically outperformed during the market's negative months. The Fund has achieved up-capture ratios ranging from 106.23% (since inception) to 246.76% (past 12 months), highlighting its capacity to significantly outperform when markets rise. Positive contributors for the Fund in May were Chalice, Cettire, Caspin and Adriatic, offset by declines in Ionic, Betmakers and our base metals holdings. The Fund remains highly liquid, with a median market cap of $923m for our top 15 holdings. |
| More Information |
