Reports, page-16

I think it’s worth remember that every major global macro call that Stuart has made since HML listed, have all been correct. Made all the more impressive with the release of the market commentary months before those global themes played out, like Trump, Brexit, OPEC, Peso, China, etc.

Clearly there has been some concern here about the unlisted investment valuations, but one must remember the crux of HML is the global macro trading. And if you zoom out and look at the financial services play from a distance, it fits right into this massive Bull Run we are witnessing right now with new all-time highs in the US each day.

I honestly believe that HML is one of the ASX’s most exciting LIC’s and doing things that most others aren't. Stuart and the team are on the forefront of innovation with their global macro models and systems, dealing with thematic plays that others don’t have the skill set to touch.

Exciting times ahead for HML.