Employing the jobs data: what conclusions can be drawn?

March 2016 Newsletter | In the middle of the biggest decline in Australia’s terms of trade in decades, the unemployment rate has actually dropped from 6.2% a year ago to 5.8% in January 2016. What’s more, the participation rate has been holding ... Read more

Is Now The Time To Buy?

February Newsletter | 2016 has started with significant volatility in global equity markets. The Australian market has not been spared, with the ASX200 Index falling 5.48% in January and continuing this declines into early February. In the 11 months ... Read more

The Good, the Bad and the Ugly of Australia’s Economic Growth

January Newsletter | It would appear that 2016 has commenced with the ugly, and unfortunately a quick analysis of the state of the Australian economy suggests that, perhaps like the stockmarket, the year ahead holds plenty of challenges. At first ... Read more

Is Timing The Market Important?

December Newsletter | Historically, many successful investors have been quoted as saying that they do not try to time their investments. This has led to the common belief that it is time in the markets and not timing the markets that is crucial to ... Read more

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