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. The Fund had 32 long positions and 25 short positions with largest exposure to medical devices & services and technology stocks. There was relatively less exposure in banking and real estate stocks.
Disclaimer: This communication is issued by Australian Eagle Asset Management Pty Ltd ABN 89 629 484 840, a corporate authorised representative of Alleron Investment Management Pty Ltd AFSL 278856 Suite 301, Level 3, 161 Walker Street, North Sydney NSW 2060. Australian Eagle Asset Management is authorised to issue this report to wholesale clients only as defined by the Corporations Act. This information does not constitute a recommendation, offer or solicitation to buy or sell any securities. It reflects the Australian Eagle Trust’s Portfolio at the end of the month stated and Australian Eagle’s views at the date of preparation. Both the Portfolio and Australian Eagle’s views are subject to change without notice. This communication was prepared for general information only and does not take account of any person’s objectives, financial situation or needs. Any person considering action on the basis of this communication must seek individual professional advice relevant to their particular circumstances. Past performance figures are no guarantee of future returns. Date of preparation: 4 June 2020.