Fund Update

October 2021

By November 10, 2021December 16th, 2021No Comments

October 2021 Performance Commentary

In the month of October, the portfolio rose by 3.5%, outperforming the benchmark (S&P/ASX Small Ordinaries Accumulation Index) by 2.5%.

Dicker Data (DDR) had a large gain towards the end of the month as the company released a Q32021 outlook, noting that their acquisition (Exceed Group) was performing well despite supply constraints. Praemium (PPS) recorded significant inflows for the month and was a strong performer for the portfolio. At the time of writing this report PPS has received a takeover offer from Netwealth (NWL). In fact NWL was also one of the top contributors to the portfolio this month. During the month NWL released an update showing record levels of flows ($4bn) for the September quarter. After two strong months Audinate (AD8) fell in October after releasing an update that highlighted the ongoing component shortages around the world. Regulation continues to weigh on Omni Bridgeway (OBL) but legislation is yet to pass and some confirmation will guide our decision to retain this investment.

Investment Exposures

We aim to achieve superior returns to the ASX Small Ordinaries Accumulation Index through an exposure to companies with good growth prospects. These may be from global growth prospects, the disintermediation of financial services or those that hold established positions within the Australian marketplace.

Portfolio Allocation

Portfolio Characteristics