CTN releases June MicroCap Commentary
Contango Asset Management
CTN releases June MicroCap Commentary. In FY14 the investment portfolio returned 30.6%. For FY15 CTN anticipates solid growth as the economy transitions from mining to non-mining investment and consumption. In this environment, we prefer companies that have solid growth profiles and high free cash flow yields- avoiding low growth defensives and pure-yield companies. CTN continues to see select opportunities within the microcap space. The forward valuations (p15) of the portfolio's stocks reflect our view that the sector is well poised into FY15. Larger contributors in the June quarter included Austal (which returned 31%), Lonestar (55%), Sfg Australia (20%), Slater & Gordon (13%), Icar Asia (36%) NIB Holdings (16%). 101 positions were held in FY14 with 68 (80% of portfolio weighting) contributing positively including Iproperty (up 308% in FY14), Icar Asia (262%) Perilya (192%) BT Investment Mgmt (119%), Syrah (103%), Mayne Pharma (98%), Capitol Health (92%). Read full report (noting disclaimer) at (VIEW LINK)
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Contango uses a combination of top down and bottom up analysis to identify the most attractive investment opportunities in the Australian share market. Contango's Business Cycle approach enables us to shift between growth and value depending on market conditions. We undertake detailed analysis of economic and industry trends to assist us in identifying sector themes, such as the China induced demand for commodities. Our in depth company research enables us to identify those companies that have the strategies, management capabilities and business environment to deliver superior returns.
Contango Asset Management
Fund Manager
Contango uses a combination of top down and bottom up analysis to identify the most attractive investment opportunities in the Australian share market. Contango's Business Cycle approach enables us to shift between growth and value depending on...
Expertise
No areas of expertise
Contango Asset Management
Fund Manager
Contango uses a combination of top down and bottom up analysis to identify the most attractive investment opportunities in the Australian share market. Contango's Business Cycle approach enables us to shift between growth and value depending on...
Expertise
No areas of expertise
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