The Fund returned +3.63% net of fees in May 2021.
The portfolio’s largest positive contributions for the month came from short positions in The A2 Milk Company and Appen and a long position in Commonwealth Bank of Australia while largest detractors were long positions in:
- Incitec Pivot Ltd
- Nearmap and
- Macquarie Group.
The Net Asset Value of the Fund was $59.7m as at 31st May 2021. The Fund had 32 long positions and 17 short positions with largest exposure to medical devices & services and technology stocks. There was relatively less exposure in consumer staples and utilities stocks.
Full report (pdf): Australian Eagle Trust Long-Short Monthly Report – May 2021
Sean Sequeira CFA
CIO
Australian Eagle Asset Management
sean.sequeira@austeagle.com
M: 0411 155 441
Alan Kwan CFA
Senior Portfolio Manager
Australian Eagle Asset Management
alan.kwan@austeagle.com
M: 0421 412 333