|Latest Return Date|
|Latest 6 Months|
|Latest 12 Months|
|Latest 24 Months (pa)|
|Annualised Since Inception|
Paragon's unique investment style, comprising thematic led idea generation followed with an in depth research effort, results in a concentrated portfolio of high conviction stocks.
Conviction in bottom up analysis drives the investment case and ultimate position sizing:
* Both quantitative analysis - probability weighted high/low/base case valuations - and qualitative analysis - company meetings, assessing management, the business model, balance sheet strength and likely direction of returns - collectively form Paragon's overall view for each investment case.
* Paragon will then allocate weighting to each investment opportunity based on a risk/reward profile, capped to defined investment parameters by market cap, which are continually monitored as part of Paragon's overall risk management framework.
The objective of the Paragon Fund is to produce absolute returns in excess of 10% p.a. over a 3-5 year time horizon with a low correlation to the Australian equities market.
The fund has an up-capture ratio ranging between 210.12% (2 years) and 93.81% (since inception), and over the most recent 12 months has provided an up-capture ratio of 177.96%. It has a down-capture ratio since inception of 74.72%. This highlights its capacity to outperform in both rising and falling markets over the long-term.
The Fund rose +14.37% over the June quarter. It ended the month with 29 long positions and 6 short positions.