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Printed: 07 December 2023 11:42 AM


4 Oct 2022 - Performance Report: Equitable Investors Dragonfly Fund


Report Date04 October 2022
ManagerEquitable Investors
Fund NameEquitable Investors Dragonfly Fund
StrategyEquity Long
Latest Return DateAugust 2022
Latest Return2.29%
Latest 6 Months-20.02%
Latest 12 Months-28.64%
Latest 24 Months (pa)3.65%
Annualised Since Inception-4.10%
Inception Date01 September 2017
FUM (millions)
Fund OverviewThe Equitable Investors Dragonfly Fund aims to deliver a total return greater than the annual five year government bond rate + 5% pa over the medium-to-long term.

The Fund is an open ended, unlisted unit trust investing predominantly in ASX listed companies. Hybrid, debt & unlisted investments are also considered. The Fund is focused on investing in growing or strategic businesses and generating returns that, to the extent possible, are less dependent on the direction of the broader sharemarket. The Fund may at times change its cash weighting or utilise exchange traded products to manage market risk.

Investments will primarily be made in micro-to-mid cap companies listed on the ASX. Larger listed businesses will also be considered for investment but are not expected to meet the manager's investment criteria as regularly as smaller peers.
Manager CommentsThe Equitable Investors Dragonfly Fund rose by +2.29% in August, an outperformance of +1.11% compared with the ASX 200 Total Return Index which rose by +1.18%.

Top contribtors in August included DXN, MedAdvisor and Leaf Resources, each of which were highlighted as recapitalisation opportunities the Fund had taken advantage of.

They noted the clear trend with the few stocks that had a noticeable negative impact on the Fund in August was that they were highly illiquid. They are not stocks with demanding market caps (being <$10m) that require a lot to go right.

Equitable Investors say the market has humbled their investment team so far in 2022 but they remain committed to their strategy. They currently see material upside potential across their portfolio. They believe investor short-termism and a steady flow of recapitalisations will create opportunities for those able to maintain a long-term perspective.
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Australian Fund Monitors Pty Ltd
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