Why Auscap has gone from 7% cash to fully invested (and where that money has been deployed)

Livewire gives readers access to information and educational content provided by financial services professionals and companies ("Livewire Contributors"). Livewire does not operate under an Australian financial services licence and relies on the exemption available under section 911A(2)(eb) of the Corporations Act 2001 (Cth) in respect of any advice given. Any advice on this site is general in nature and does not take into consideration your objectives, financial situation or needs. Before making a decision please consider these and any relevant Product Disclosure Statement. Livewire has commercial relationships with some Livewire Contributors. Auscap Disclaimer The views of Auscap Asset Management Limited ACN 158 929 143, AFSL 428014 (Auscap) discussed are based on factual information available to us at the date of publication. Our views and market conditions as expressed may change without notice. There is a risk that investments will not perform as expected, which could have an adverse impact on the performance of Auscap’s funds being the Auscap Long Short Australian Equities Fund ARSN 615 542 213 (Long Short Fund) and the Auscap Ex-20 Australian Equities Fund ARSN 671 901 821 (Ex-20 Fund) (together, the ‘Funds’). Any advice is general only in nature and does not take into account a particular person's objectives, financial situation, needs or circumstances. Because of that, before making any investment decision, you should consider – with or without the assistance of a qualified adviser(s) – the appropriateness of any advice to you, having regard to your objectives, financial situation, needs and circumstances. While all reasonable care has been taken to ensure that this information is complete and correct, no representation or warranty is given as to the accuracy of any of the information provided, including any forecasts. To the maximum extent permitted by law, Auscap, its related bodies corporate, directors, employees and representatives are not liable and take no responsibility for the accuracy or completeness of this material. This content does not constitute an offer or solicitation to subscribe for units in the Ex-20 Fund and/or the Long Short Fund or an offer to buy or sell any financial product. Past performance is not a reliable indicator of future performance. Before deciding whether to acquire, or to continue to hold, units in a Fund, a prospective or existing investor should fully review the information, the disclosures and the disclaimers contained in all relevant Fund documents, including in particular the relevant Fund’s PDS, or any supplement/update to that document, and consider obtaining investment, legal, tax and accounting advice appropriate to their circumstances. A copy of the Ex-20 Fund’s PDS (including the Additional Information Guide) is available at https://www.auscapam.com/auscap-ex20-australian-equities-fund-product-disclosure-statement/ and a copy of the Long Short Fund’s PDS is available at www.auscapam.com/auscap-fund/pds/. Copies of the Target Market Determinations for the Funds, prepared by Auscap in connection with the Design and Distribution Obligations, are available on request or at www.auscapam.com/ddo/. No part of this material may be reproduced, in whole or in part, without the prior written consent of Auscap.