Written by Chris Bainbridge, Senior Investment Analyst and Portfolio Manager
July was strong with all our Australasian Funds up for the month: Growth 2 3.0%, Growth 2.2%, Emerging 1.3% and Dividend 2.2%.
Some positive contributors were Rhipe Limited (ASX:RHP) after it confirmed that it would meet full year guidance of $4 million EBITDA, and Adairs Limited (ASX:ADH) after it announced that it would come in at the top end of previously announced guidance range. A negative contributor was Yowie Group Limited (ASX:YOW) after it announced that revenue would be below previous guidance, sales slowed in the US and its cash burn increased.
This month is reporting season in Australia, so the investment team is flat out reviewing, report writing and speaking with the circa 50 Australasian investments we own, as well as analyzing at least another 50 we are interested in. Therefore, the summary is fairly brief this month and we will provide a wrap-up of events in September, and a profile on one of our new investments.
This is not financial advice or a stock recommendation. It is a summary of our investment thesis which may change from time to time.