The Fund rose 8.7%1 in August, underperforming the Small Industrials by 0.9% and outperforming the Small Ordinaries Indices by 1.5%1. For the 12 months to August, the Fund was down 2.0%1, underperforming the Small Industrials Index by 2.7%1 and underperforming the Small Ordinaries Index by 4.1%.
The past six months have been challenging, however, we are pleased with our performance overall. From the market lows on March 23, the Small Industrials index has risen 52% while our fund has risen 59%.
Full written commentary available HERE
|1 Month||1 Year||3 Years P.A.||5 Years P.A.||10 Years P.A.||SINCE INCEPTION|
|S&P/ASX Small Ordinaries Index||7.2%||2.1%||8.0%||10.5%||4.7%||4.8%|
|ASA Small Cap Industrials Index**||9.6%||0.7%||7.9%||9.3%||8.8%||5.6%|
||Charter Hall Group||Australia||Real Estate|
||City Chic Collective||Australia||Consumer Discretionary|
||Cleanaway Waste Management||Australia||Industrials|
||EQT HOLDINGS LTD||Australia||Financials|
||Lifestyle Communities||Australia||Real Estate|
||OptiComm Ltd||Australia||Communication Services|
||Uniti Wireless Ltd||Australia||Communication Services|
Senior Fund Manager
Senior Fund Manager
The Pengana Emerging Companies Fund combines the skills of highly experienced small company investors (collectively over 45 years’ experience) with a limited fund size and an objective of providing above market returns over the medium term. Our benchmark is the S&P/ASX Small Ordinaries Accumulation Index. The fund managers Steve Black and Ed Prendergast are part owners of the business and investors in the Fund, providing a strong incentive to perform. The Fund has strong research ratings from all major research houses and over the period since its inception has delivered returns well above benchmark.
|Harding Loevner International Fund||Axiom International Ethical Fund||Axiom International Ethical Fund (Hedged)||Australian Equities Fund|
|High Conviction Property Securities Fund||Global Small Companies Fund||WHEB Sustainable Impact Fund||Emerging Companies Fund|
|High Conviction Equities Fund||Pengana International Equities Limited (ASX: PIA)||Private Equity Trust (ASX: PE1)||Alpha Israel Fund|
1. Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
2. Inception 1 November 2004.
* For further information regarding fees please see the PDS available on our website.
** The Fund does not invest in resource stocks.