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Printed: 21 April 2024 7:53 AM

25 May 2022 - Performance Report: Equitable Investors Dragonfly Fund


Report Date25 May 2022
ManagerEquitable Investors
Fund NameEquitable Investors Dragonfly Fund
StrategyEquity Long
Latest Return DateApril 2022
Latest Return-2.60%
Latest 6 Months-20.64%
Latest 12 Months-14.14%
Latest 24 Months (pa)25.80%
Annualised Since Inception-1.12%
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 returned -2.60% in April vs the ASX200 Total Return's -0.85%. The top contributor during the month was Scout Security (SCT) while the key detractors were EML Payments (EML) and Spacetalk (SPA).

The fund ended the month with 31 positions and 3% in cash (including cash ETF). The fund's top positions at month-end included Earlypay, Geo (NZX-listed), MedAdvisor, Ellume (unlisted), Intelligent Monitoring, Scout Security, Energy Technologies, Mad Paws and Upsure.

Equitable see fundamentals being more compelling now than they have been for some time. However, they noted they don't necessarily see equity markets snapping back upwards. They believe it's more likely there will be ongoing sentiment swings as the world adjusts to higher interest rates, central banks juggle inflation and employment targets and geopolitical instability looms.
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Australian Fund Monitors Pty Ltd
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