Quarterly Fund Updates March 2015
April 15th, 2015
Although we expect domestic economic data to continue to disappoint in the short to medium term, we believe our portfolio positioning leaves us well placed to deliver solid performance for investors. Our raft of quality companies that can grow earnings outside of the economic cycle, including iSentia, Healthscope, Hansen, REA Group and M2 Group, all have strong earnings outlooks. Our exposure to domestic cyclicals still remains low and we have ample exposure to companies with offshore earnings where growth prospects are more robust.