The Fund rose 8.5% in August, outperforming the Small Industrials by 2.4% and outperforming the Small Ordinaries by 3.5%. For the 12 months to August, the Fund was up 49.1%, outperforming the Small Industrials Index by 21.3% and outperforming the Small Ordinaries Index by 19.6%. We were busy with reporting season in August, and are pleased that our largest positions showed very strong results.
||Charter Hall Group||Australia||Real Estate|
||City Chic Collective||Australia||Consumer Discretionary|
||Hansen Technologies||Australia||Information Technology|
||Johns Lyng Group Ltd||Australia||Industrials|
||Lifestyle Communities||Australia||Real Estate|
||Pinnacle Investment Management||Australia||Financials|
||Uniti Wireless Ltd||Australia||Communication Services|
|1 MTH||1 YEAR||3 YEARS P.A.||5 YEARS P.A.||10 YEARS P.A.||SINCE INCEPTION P.A.|
|Emerging Companies Fund||8.5%||49.1%||12.7%||13.0%||14.9%||14.3%|
|S&P/ASX Small Ordinaries Index||5.0%||29.5%||10.1%||11.0%||6.7%||6.1%|
|ASA Small Cap Industrials Index**||6.1%||27.8%||9.9%||10.3%||11.0%||6.8%|
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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. No allowance has been made for buy/sell spreads. 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.