Performance update - November 2020

We are pleased to provide an update on the performance of our Australian and global founder company strategies. Our Australian strategy delivered a return of 6.1% in the month of November, below the benchmark return (10.2%). The performance of the strategy’s largest positions were as follows: Reece (-1.3%), Fortescue Metals (5.0%), Afterpay (-1.7%), Wisetch Global (30.9%) and Megaport (-5.1%). In the past six and twelve months, the strategy has produced out-performance of 12.4% and 29.7% respectively.

The global strategy earned a return of 7.1% (AUD) for the month, also below the benchmark return (7.5%). The performance of the strategy’s largest positions were as follows: MarketAxess (-4.6%), DR Horton (6.3%), Fraser Group (10.7%), Masimo Corporation (8.4%) and Starbucks (7.4%). In the past six and twelve months, the strategy has produced out-performance of 2.9% and 9.7% respectively.