SUMMARY
- New positions initiated in Global Pharmaceutical business Eli Lilly, And consumer good giant Nestle
- We exited our holding in Trex which will be affected by a slowdown in US housing activity, and Block due to their exposure to cryptocurrencies, as well as the deteriorating prospects for Afterpay
- We continue to believe that positive earnings revisions will be the most likely factor to drive outperformance at this point in the economic cycle
During May 2022, the Pengana Axiom International Ethical Fund (“Fund”) fell by -2.8%, underperforming the benchmark, the MSCI All Country World Index (AUD) (“Index”), by 2%.
Portfolio Manager Bradley Amoils recently held a Portfolio and Investment Update webinar which can be found below. Financial planners may also complete a short questionnaire available HERE for CPD points.