Article from the Financial reviewJumbo a top three holdingMonash...

Article from the Financial review

Jumbo a top three holding

Monash has now shifted its attention to online lottery provider Jumbo Interactive, increasing its position through early June to now be one of the portfolio's top three holdings.

Co-founder Shane Fitzgerald says Monash Investors is steering clear for now from the financial sector. Janie Barrett

"As with most high PE stocks, it suffered a large fall in share price, but we established a position near the bottom because we thought it was well and truly overdone," Monash co-founder Shane Fitzgerald said.

"There's a boom in online consumption generally, and Jumbo is really playing into that story.

"We see greater than 60 per cent upside on some conservative assumptions. I think it's going to be a real good position for the fund."

Monash also exited short positions in Flight Centre and G8 Education as they showed signs of moderating their heavy falls.

"We're quite pleased with all those actions we took there," Mr Shields said. "Those companies were clear-cut shorts at the time but are no longer."