| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months (pa) | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | Cyan C3G Fund is based on the investment philosophy which can be defined as a comprehensive, clear and considered process focused on delivering growth. These are identified through stringent filter criteria and a rigorous research process. The Manager uses a proprietary stock filter in order to eliminate a large proportion of investments due to both internal characteristics (such as gearing levels or cash flow) and external characteristics (such as exposure to commodity prices or customer concentration). Typically, the Fund looks for businesses that are one or more of: a) under researched, b) fundamentally undervalued, c) have a catalyst for re-rating. The Manager seeks to achieve this investment outcome by actively managing a portfolio of Australian listed securities. When the opportunity to invest in suitable securities cannot be found, the manager may reduce the level of equities exposure and accumulate a defensive cash position. Whilst it is the company's intention, there is no guarantee that any distributions or returns will be declared, or that if declared, the amount of any returns will remain constant or increase over time. The Fund does not invest in derivatives and does not use debt to leverage the Fund's performance. However, companies in which the Fund invests may be leveraged. |
| Manager Comments | During December, Cyan initiated two IPOs and enjoyed a solid return from Playside Studios which closed the month up +130% on its IPO price. Other top contributors included City Chic Collective and Kelly Partners Group. The only moderate negative contributors included Service Stream and Quickfee which both retraced by 20% with Quickfee impacting the Fund somewhat more due to its higher weighting of around 3.5%. Cyan highlighted a number of factors which they believe will influence markets going into 2021. These included: premium pricing (particularly the overpriced tech and retail sectors), fundamental challenges faced by the travel, tourism and education sectors which are still impacted by COVID, economic uncertainty as a result of continued lockdowns, and geopolitical instability. Cyan believe their current portfolio of 27 stocks is well balanced from a risk/return perspective (no individual holding accounts for more than 7% of the total Fund) and has a combination of both higher growth businesses and established cash-flow generative income investments. |
| More Information |
