Rhett Kessler, Portfolio Manager at Pengana Capital, says he has used the recent weakness to increase his investment in existing holdings. Kessler was holding about 23% prior to the ‘Brexit’ wobbles and says the market weakness has allowed him to mobilise 5% of the Fund’s value into stocks like Duet, Resmed, Caltex, CSL, Medibank, CBA and ANZ. Kessler says that sticking to process is fundamental during times of market dislocation. “It should be noted that it is never easy to allocate capital during these extreme market events – one has to reach across the proverbial psychological abyss to succeed. But as we have demonstrated before, adherence to our disciplined and consistent investment process has always been a rudder in uncertain times.”
Pengana Capital Group (ASX: PCG) is an ASX listed diversified funds management group specialising in global and Australian listed equities, with distinct investment strategies that aim to deliver superior risk-adjusted returns to investors.