The Dangers of Comfortable Investing

November Newsletter | It often feels less risky to be invested in the most widely held stocks. Their size and familiarity offer comfort to the investor. Somewhere along the way both future earnings and price can become secondary considerations to ... Read more

To Be, Or Not To Be, Fully Invested

October Newsletter | In this edition we discuss the Fund’s variable market exposure and why we think it is a sensible approach to investing. As a manager we are focused on absolute risk-adjusted returns. We do not predetermine our market exposure, it ... Read more

Analysing FY15 Fund Returns

September Newsletter | In this edition we analyse the returns delivered by the Fund in FY15 in terms of single stock and sector contributions. ... Read more

The Slippery Slope Of Forecasting Oil Prices

August Newsletter | In this edition we look at the demand and supply imbalance in the oil market and whether the recent fall in oil prices reflects risk or opportunity. ... Read more

A Good Year, A Volatile Month

July Newsletter | The Fund had a strong 2015 financial year, finishing up 16.8%, comparing favourably to the All Ords Accumulation Index return of 5.7%, however the final month was more volatile than we would ordinarily expect. In this edition we ... Read more

Auscap Awarded Best Australian Long Short Equities Fund by Finance Monthly

The Auscap Long Short Australian Equities Fund has been awarded Best Australian Long Short Equities Fund in the Finance Monthly Global Awards 2015. We are humbled to accept the award and would like to thank Finance Monthly. Below is a link to ... Read more

A Buffet(t) of Business Culture, Brands & Buybacks

June Newsletter | Last month we discussed our trip to the 50th Berkshire Hathaway Annual General Meeting. In this edition we continues with a few more select quotes from the event. ... Read more