This Billion Plus AUM Contrarian, Valuation-Based Fund’s Top Holding Is Tesla: Here’s Why

The Contrarius Global Equity Fund's retail class shares returned -8.9% for the second quarter, versus the MSCI World Index's 0.3% gain and the -0.5% return for the average global equity fund. Year to date, the Contrarius fund is down 11.5%, versus gains of 14.2% for the MSCI and 11.4% for the average global equity fund.

Background on Contrarius

The Australia-registered fund with over $1.5 billion in AUM aims for a higher total rate of return than the global equity markets' average based on the MSCI World Index, including dividend reinvestment and net of withholding tax. The actively managed fund targets higher returns without greater risk of loss over the long term.

Contrarius utilizes a long-term, contrarian, valuation-based investment philosophy, so it will significantly...