A Portfolio of Performers, Laggards and Opportunities

December 2020 Newsletter | It has been an extraordinary year. Despite the sell-off in February and March, the Auscap Long Short Australian Equities Fund (Fund) was up 5.3% for the calendar year as of 30 November 2020. This compares to the All Ordinaries Accumulation Index which is up 1.8% over this period. This being the case and with COVID-19 vaccine rollouts potentially on the horizon, we thought it was an appropriate time to reflect on the current positioning of the portfolio. We thank our investors for their support over 2020 and wish all of our readers a happy, safe and relaxing festive season.