February was characterised by a recovery in value sectors and profit-taking in more growth-orientated sectors. Financials (banks) and Real Estate rose sharply while the Technology sector, and particularly segments such as Semiconductors, Cybersecurity, and Cleantech, dropped significantly. As an example, the Cleantech sector has declined 10% since the beginning of the year, following a very strong 2020. The Fund is overweight these more growth-orientated sectors and underweight value, and its performance suffered as a result.
||ICL Israel Chemicals||Israel||Fertilizers & Agricultural Chemicals|
||Nice Ltd||Israel||Application Software|
||Peninsula Group||Israel||Specialized Finance|
||Priortech Ltd||Israel||Electronic Components|
|1 Month||1 Year||2 Years P.A.||3 Years P.A.||SINCE INCEPTION|
|Fund Class A (AUD)||-0.9%||10.8%||15.8%||12.5%||11.8%|
|Fund Class B (USD)||-1.0%||16.5%||17.8%||13.7%||12.9%|
|Tel Aviv Stock
Exchange 125 Index
|Tel Aviv Stock
Exchange Small And
Medium Cap 60 Index
|VOLATILITY3||11.1%||NUMBER OF STOCKS||40|
|BETA (USING DAILY RETURNS)4||0.55||MAXIMUM DRAW DOWN||-13.6%|
|VOLATILITY3||10.5%||NUMBER OF STOCKS||40|
|BETA (USING DAILY RETURNS)4||0.51||MAXIMUM DRAW DOWN||-11.4%|
Founder & CEO
Founder & Managing Partner
The Pengana Alpha Israel Fund invests in listed Israeli companies that produce cutting edge – both high and low tech – technologies. These Israeli listed companies have developed solid intellectual property coupled with strong global distribution.
The Fund offers Australian investors diversification within global equity exposure to a unique and promising market that is very much skewed to industries and technologies that are either limited, or do not exist, in the Australian market place, such as: the semiconductor industry, solar and water treatment technology, aerospace and electronic defence industries, and cyber security technologies.
|International Fund||High Conviction Property Securities Fund||Australian Equities Fund||International Ethical Fund|
|Global Small Companies Fund||WHEB Sustainable Impact Fund||Emerging Companies Fund||High Conviction Equities Fund|
|Pengana International Equities Limited (ASX: PIA)||International Fund - Ethical Opportunity||Private Equity Trust (ASX: PE1)||Alpha Israel Fund|
1. Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Class A is shown in $AUD, Class B is shown in $USD, Benchmarks 1&2 are $ILS. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
2. Inception 1st January 2018.
3. Annualised Standard Deviation since inception
4. Relative to Tel Aviv Stock Exchange 125 Index
Benchmark 1: Tel Aviv Stock Exchange 125 Index
Benchmark 2: Tel Aviv Stock Exchange Small And Medium Cap 60 Index
Please note: This fund is only open to Wholesale Investors.