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Auscap Newsletter August 2023
The Fund returned 5.9% net of fees during July 2023. The All Ordinaries Accumulation Index returned 3.0% during that period.
The only ASX stock with a return on equity of over 50% – Livewire, 28 July 2023
How Auscap's Tim Carleton is finding value in beaten up sectors
Auscap Newsletter July 2023
Auscap’s views discussed below are based on factual information available to us at the date of publication of this newsletter.
Auscap Newsletter June 2023
The Fund returned negative 4.3% net of fees during May 2023. The All Ordinaries Accumulation Index returned negative 2.6% during that period.
Auscap Newsletter May 2023
The Fund returned 4.2% net of fees during April 2023. The All Ordinaries Accumulation Index returned 1.8% during that period
Auscap Newsletter April 2023
Auscap’s views discussed below are based on factual information available to us at the date of publication of this newsletter.
Auscap Newsletter March 2023
The Fund returned negative 3.9% net of fees during February 2023. The All Ordinaries Accumulation Index returned negative 2.5% during that period.
Auscap Newsletter February 2023
The Fund returned 8.2% net of fees during January 2023. This compares with the All Ordinaries Accumulation Index return of 6.4% during that period
The ASX tech company dominating its space and why we’re backing it, Livewire, 27 January 2023
2022 was a difficult year for listed technology businesses. Rising interest rates, slowing growth and heightened scrutiny of business models drove the NASDAQ and the Australian IT Index down 33% and 34% respectively, with many formerly high-flying stocks faring even worse. Has this created an opportunity in 2023? While we continue to find it difficult, if not impossible, to value loss making technology stocks, we do see some pockets of opportunity emerging. This includes one of Auscap’s holdings in the Auscap Long Short Australian Equities Fund (Fund), a company that Auscap recently presented at the Sohn Hearts & Minds Conference in November 2022 – online media classifieds business Carsales.com (Carsales).
Auscap Newsletter January 2023
Auscap’s views discussed below are based on factual information available to us at the date of publication of this newsletter.
Auscap Newsletter December 2022
The Fund returned 6.2% net of fees during November 2022. This compares with the All Ordinaries Accumulation Index return of 6.4% during that period.The Fund’s largest exposures over the month were spread across the consumer discretionary, materials, real estate, financials and communication services sectors.
Auscap Newsletter November 2022
The Fund returned 8.5% net of fees during October 2022. This compares with the All Ordinaries Accumulation Index return of 5.7% during that period. The Fund’s largest exposures over the month were spread across the consumer discretionary, materials, real estate, communication services and financials sectors.
