adminofoc, April 2014 - Fund Updates

Little has occurred during the quarter to alter our view that domestic growth remains below trend with the economy navigating a period of transition as the mining boom moves from the labour intensive investment phase to the production phase. But evidence continues to mount that the broader economy is slowly gaining strength, albeit off a low base, with record low interest rates igniting an uptick in housing related sectors including property and dwelling construction and consumer spending continuing to slowly pick-up. In this environment, stocks exposed to the housing market such as CSR, Fletcher Building and Dulux Group ought to continue to benefit given the strong upswing in dwelling construction with private approvals up over 40% versus a year earlier.

OC Premium Small Companies Fund
OC Dynamic Equity Fund
OC Concentrated Equity Fund