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 Trust Long-Short Fund celebrates 3 years of consistently strong performance.
It was a rare good year for stock pickers, with the median actively managed fund over the 12 months beating the benchmark S&P/ASX 300 accumulation index (which includes the impact of dividends) by 13.8 per cent to 11.9 per cent.
“FMG can provide growth and strong returns: CEO Nev Power”
Australian Financial Review (AFR) article by Tess Ingram
21 August 2017
Fortescue Metals Group’s strengthened balance sheet can sustain higher dividends and still support the iron ore miner’s growth ambitions, chief executive Nev Power says.