| 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 | The Fund is an open ended, unlisted unit trust investing predominantly in ASX listed companies. Hybrid, debt & unlisted investments are also considered. The Fund is focused on investing in growing or strategic businesses and generating returns that, to the extent possible, are less dependent on the direction of the broader sharemarket. The Fund may at times change its cash weighting or utilise exchange traded products to manage market risk. Investments will primarily be made in micro-to-mid cap companies listed on the ASX. Larger listed businesses will also be considered for investment but are not expected to meet the manager's investment criteria as regularly as smaller peers. |
| Manager Comments | Over the quarter the Fund returned +19.45% vs the Index's +4.26%. Throughout the quarter the Fund's greatest returns were made away from the ASX. There was the revaluation of the Fund's unlisted holding in digital diagnostics company Ellume, and also a surge in the price of NZ-listed tradie and field services app developer Geo (NZ: GEO). Back on the ASX, traffic monitoring group Redflex (RDF) did well for the Fund early in the quarter thanks to a takeover offer. The Fund returned -1.94% in March. March was a month in which most Fund investments made gains or held steady but three of the Fund's top nine holdings ticked backwards - despite positive developments that Equitable Investors elaborate upon in their latest report. Equitable Investors consider the current state of investment markets to be such that it is more important than ever to have an awareness of who the other shareholders are in any company and how they are likely to act. They believe that if the marginal buyers don't know what they are doing, they won't have the conviction to hold for the medium-to-longer term. |
| More Information |
