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| Latest Return | |
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| Fund Overview | The managers of the fund intend to maintain a concentrated portfolio of investments in ASX listed companies that they have investigated and consider to be undervalued. They will assess the attractiveness of potential investments using a number of common industry based measures, a proprietary in-house model and by speaking with management, industry experts and competitors. Once the managers form a view that an investment offers sufficient upside potential relative to the downside risk, the fund will seek to make an investment. If no appropriate investment can be identified the managers are prepared to hold cash and wait for the right opportunities to present themselves. |
| Manager Comments | The Collins St Value Fund rose +10.30% in December, outperforming the ASX200 Accumulation Index by +9.24% and taking CY20 performance to +32.34% vs the Index's +1.40%. Since inception in February 2016, the Fund has returned +17.29% p.a. vs the Index's +10.14%. Despite the Fund's returns having been more volatile than the market's, the Fund's Sortino ratio (since inception) of 1.21 vs the Index's 0.77 and down-capture ratio (since inception) of 38.29% highlight its capacity to outperform during falling and volatile markets. The Fund has maintained down-capture ratios of less than 100% over the past 12, 24, 36 and 48 months. Key drivers throughout the year included Paladin Energy, National Tyre & Wheel, Boom Logistics and Coronado. Collins St are very happy with the Fund's performance throughout CY20, however, they emphasise that they don't anticipate returns of this sort regularly and that their foremost concern is capital preservation. They noted they endeavour to worry less about the macro environment, market movements and share price momentum, and focus instead on the merits of the businesses they look at. In their latest report, they discuss in details how a person's psyche plays a part in their investment decisions and identify tools they believe will assist investors to make decision based more on reason than emotion. |
| More Information |
