CTN releases June MicroCap Commentary

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)


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...

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