The last quarter has certainly been an event-filled 3 months. Steven Glass, deputy portfolio manager of the Pengana International Equities range of funds provides a regroup on what has been affecting markets for the past 3 months, and how the team has positioned the portfolio for performance through the volatility, and into the future.
||Bharti Infratel||India||Communication Services|
||Charter Communications Inc||United States||Communication Services|
||Houlihan Lokey Inc||United States||Financials|
||Mowi ASA||Norway||Consumer Staples|
||Newmont Mining (USD)||United States||Materials|
||Pinterest Inc||United States||Communication Services|
||Rakuten Inc||Japan||Consumer Discretionary|
||Thermo Fisher Scientific||United States||Health Care|
||UnitedHealth Group Inc||United States||Health Care|
|1 Month||1 Year||3 Years P.A.||SINCE INCEPTION|
|VOLATILITY3||9.7%||NUMBER OF STOCKS||35|
|BETA4||0.77||MAXIMUM DRAW DOWN||-9.4%|
The Pengana International Fund invests in 30-50 companies across developed and developing markets, large and small companies. The Fund predominantly invests in franchises that deliver stable yet growing free cash flow throughout cycles (which we classify as ‘Core’ holdings) whilst also taking positions in more cyclical companies (‘Cyclical’) and those whose valuation has been materially misconstrued by the market (‘Opportunistic’).
|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 1st July 2015.
3. Annualised standard deviation since inception.
4. Relative to MSCI All Country World Total Return Index in AUD
* For further information regarding fees please see the PDS available on our website.