After a diligent search and in-depth analysis, the Investment Committee shortlisted the potential candidates to act as Paradigm’s Australian share specialist, to four managers. Following formal presentations to the Committee, and final analysis, the Committee formally appointed Australian Eagle to carry out this role.
Sean Sequeira the chief investment officer at Eagle Asset Management says on these numbers the stock still boasts significant upside. This despite it already quadrupling to $8.81 from an October 2016 initial public offer price of $2.09.
According to Mr Sequeria, Xero can harness data like Facebook to provide its next growth leg, with the stock fairly valued now.
The Fund returned +9.97% net of fees in May 2020. The portfolio’s largest positive contributions for the month came from long positions in Pushpay Holdings Ltd, Fortescue Metals Group Ltd and Evolution Mining Ltd while largest detractors were a long position in CSL Ltd and short positions in Flight Centre Travel Group Ltd and Virgin Money UK.