The Fund reported a pleasing return of 13.5% during the month due mostly to a 114% return in the Fund’s largest holding, Australian radiopharmaceutical company Telix. Helping markets was the announcement by Pfizer of strong Covid vaccine study results, which generally boosted sentiment, although this was not a substantial driver of gains in the Fund.
||Ciena Corp||United States||Information Technology|
||Howard Hughes||United States||Real Estate|
||Max Stock Ltd||Israel||Other|
||Telix Pharmaceuticals Ltd||Australia||Health Care|
|1 Month||1 Year||2 Years P.A.||3 Years P.A.||5 Years P.A.||SINCE INCEPTION|
|MSCI World Total Return Index, Net Dividends Reinvested, in A$||7.5%||5.1%||14.0%||10.6%||10.6%||11.5%|
|RBA Cash Rate + 3%||0.3%||3.4%||3.8%||4.0%||4.3%||4.4%|
|VOLATILITY3||26.6%||NUMBER OF STOCKS||20|
|BETA (USING DAILY RETURNS)4||0.6||MAXIMUM DRAW DOWN||-20.2%|
The Pengana High Conviction Equities Fund (the Fund) invests globally in a concentrated portfolio of up to 20 stocks. The Fund can invest in both small and large cap stocks and is diversified across countries and sectors. We avoid investment in companies that are currently, in our opinion, unnecessarily harmful to people, animals or the environment.
|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. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
2. Inception 11 December 2014.
3. Annualised standard deviation since inception.
4. Relative to MSCI World.
* For further information regarding fees please see the PDS available on our website.