Australian Growth Fund

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    Unit price

    $7.0790

    as at 23/07/2024
    See fund overview

    Performance chart

     

    * S&P/ASX 200 Accumulation Index 70% hedged into NZD (1/4/2015 to now) S&P ASX 300 Industrials ex top 20 70% hedged to NZD (1/2/2012 - 31/3/2015) S&P/ASX Small Industrials Index (Inception to 31/1/2012)

    Fund performance figures are after deductions for charges but before tax. Please note that past performance is not necessarily indicative of future returns. Returns can be positive or negative, and returns over different time periods may vary. No returns are promised or guaranteed.

    Fund highlights

    June 2024

    The Australian Growth Fund rose +2.0% in June outperforming the benchmark index which rose +1.3%. The Australian inflation rate registered 4% in May, above the Reserve Bank of Australia’s (RBA) target, and above market expectations. This pushed out the investor expectations around the timing of when the RBA will begin cutting interest rates, which weighed on market sentiment and equity market performance in the month.

    After a tough few months, software developer Atlassian’s share price rebounded +13% in the month, and was our best performing company. Having attended Atlassian’s investor day recently, we were impressed with the calibre of the team and the product development that they are in the process of delivering to their clients. The long term potential for Atlassian remains sound and we added to our position during the month.

    Resmed (-7.5%) fell sharply during the month after a weight loss drug company released data from a trial highlighting the benefit of the weight loss drugs on people suffering from sleep apnea (a key customer base for Resmed). The data was positive for the drug company, and may reduce theneed for some customers to use Resmed’s sleep apnea devices. However, based on our research to date, the market for sleep apnea remains deeply underpenetrated and weight loss drugs will not be a complete panacea for everyone suffering from sleep disordered breathing. As such, we do not think this drug trial outcome significantly inhibits Resmed’s ability to continue growing its sales over coming years.

    Portfolio Team

      Our Managed Funds

      • Conservative Fund

        Aims to provide stable returns over the long term by investing mainly in income assets with a modest allocation to growth assets.

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      • Growth Fund

        Aims to grow your investment over the long term by investing mainly in growth assets.

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      • Income Fund

        Aims to provide stable returns over the long term by investing in New Zealand and international fixed interest assets.

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      • Property & Infrastructure Fund

        Focuses on growth of your investment over the long term by investing in New Zealand and international property and infrastructure assets.

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      • New Zealand Growth Fund

        Focuses on growth of your investment over the long term by investing in quality New Zealand companies which can consistently produce increasing earnings.

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      • Australian Growth Fund

        Focuses on growth of your investment over the long term by investing in quality Australian companies which can consistently produce increasing earnings.

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      • International Growth Fund

        Focuses on growth of your investment over the long term by investing in quality international companies which can consistently produce increasing earnings.

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