Good question, Im guessing here that the miss was in the writedowns around some unlisted positions they note in the final report.
25% of the fund was in the Uranium space and yes they moved higher so im not sure how 3-5% of the fund underperforming offsets the 25% outperforming. I will ask.
The main negative contributors for the month were precious metals and soft commodities positions which were down 1% and 2.9% respectively. Both were
impacted by write-downs on unlisted equity positions from our independent valuation agent IHS. Total exposure to unlisted equity and credit positions is
now 3.75% of total gross exposure. We remain confident on current positions and that we can generate alpha in the unlisted space, but for now the
portfolio is heavily skewed to large, listed companies.
The portfolio is well positioned to generate positive returns in 2024, in our view, with many companies trading at significant discounts to our valuations. We
remain confident that the themes to which the portfolio is most exposed can perform strongly in 2024 and based on fundamental, macro and positioning
analysis, we are optimistic 2024 will be a good year for the strategy.
• Base & Battery Metals: ~60% gross long
• Uranium & Traditional Energy: ~40% gross long
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- Ann: Estimated Weekly NTA as of 22 December 2023
Ann: Estimated Weekly NTA as of 22 December 2023, page-6
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Last
$1.39 |
Change
-0.010(0.71%) |
Mkt cap ! $109.5M |
Open | High | Low | Value | Volume |
$1.40 | $1.41 | $1.39 | $521.9K | 373.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 10800 | $1.39 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.40 | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4800 | 1.385 |
1 | 2174 | 1.380 |
1 | 30000 | 1.370 |
2 | 10925 | 1.350 |
2 | 2693 | 1.300 |
Price($) | Vol. | No. |
---|---|---|
1.420 | 5000 | 1 |
1.440 | 7000 | 2 |
1.480 | 10000 | 1 |
1.530 | 13000 | 1 |
1.555 | 72000 | 1 |
Last trade - 15.39pm 09/08/2024 (20 minute delay) ? |
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