Fund manager Sean Sequeira says Altium shares will rise if the market gets confidence it can meet its FY 2025 targets. COVID-19 will prove a short-term hit to Altium’s long-term growth story and management is still targeting 100,000 users by 2024-25 and revenue of $US500 million.
Australian Eagle Asset Management’s Sean Sequeira recorded a 16.27 per cent return for his long-short fund, after fees, and 19.23 per cent before fees.
Fortescue was a winner: the stock has more than doubled this year.
“The improvement of their cashflows was still not recognised by the market,” he recalled.
Australian Eagle Asset Management, which used to be Alleron, went long Treasury Wine Estates shares at $4. The way Australian Eagle CIO Sean Sequeira saw it, the downside was limited: it had only $300 million of debt and a small but dazzling source of growth.