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Insights, April 2020 - Fund Updates

The Novel Coronavirus (COVID-19) has rapidly morphed into a fear induced financial crisis that has seen the global stock indices, including the ASX, move into bear market territory (a retreat of more than 20% from its high), at the fastest rate ever.

Since mid-February, markets have moved rapidly to price in a major global recession, although a very strong policy response from central governments and central banks in Western countries such as Australia and the US over the past fortnight have brought a degree of stability back to both equity and credit markets and the ASX has bounced solidly off its lows.

We are disappointed that the OC Premium Small Companies Fund and OC Dynamic Equity Fund returned investors -32.7% and -33.1% respectively for the quarter, with the OC Micro-Cap Fund returning -26.0% over the same period. We share in our investors pain as members of the investment team are material investors in the Funds as well.

Nevertheless, we remain confident in our ability to navigate the challenges of the coming months and point to our excellent track record following prior market dislocations. We wish all our investors and their families good health and good spirits in these trying times.

To discuss our portfolios in detail, contact our Copia business development team.

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TAGS : Australian equities, Australian shares, Dynamic Equity, Fund update, January 2020, Latest report, Micro-cap, Premium Small Companies, Small caps