Investment Objective
The Fund’s objective is to provide market leading returns over the medium to long-term from a concentrated portfolio of Australian shares. The Fund aims to deliver a pre-fee investment return (before taxes) that outperforms the S&P/ASX300 Accumulation Index over a rolling three year period by 4% per annum.
Investment Universe
The Fund invests in companies and trusts listed or soon to be listed on the Australian Stock Exchange (ASX) that offer opportunity for above-average investment returns through their growth potential.
Performance: April
The Platypus portfolio increased by 2.1% in April, outperforming the benchmark S&P/ASX300 by 0.8%. At the stock level good contributions to relative performance came from Sirtex Medical, Aurora Oil & Gas and Commonwealth Bank of Australia. During April, Sirtex announced a 34% lift in sales for the third quarter which catapulted the share price 24%. We continue to see upside in Sirtex despite the fact that it has rallied more than 50% since November. Sirtex is unique in the domestic biotech space; having both an established market position that is growing and enormous upside from additional clinical trials currently underway. Telstra (not owned) detracted the most from performance during the month and Western Areas, Qube Logistics and Flight Centre also weighed on the portfolio return in April.