Paragon Funds Management

We have written about LNG Ltd previously, outlining our reasoning behind investing in what remains one of the best emerging LNG export projects across the globe. We also wrote in December 2014 that we had closed out the last of the position at an average of $3.86/sh, largely avoiding LNG’s ~50% price correction amid the oil market crash. This month we take the opportunity to outline why we have bought back into LNG Ltd at a time where its volatility provided an attractive re-entry point… Since re-entering LNG Ltd in March 2015 at $3/sh, our investment case has been further de-risked as the company has announced (in April 2015) its first and much anticipated partner to underwrite its 8mtpa Magnolia project. Our latest monthly report details the de risking we have observed in our investment case for LNG Limited and updates our views on Qantas.



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