VGI Partners Global Investments Ltd, the Australian global investment fund, produced a return of 1% for its investors during the three months to 31 December. Of this 1%, 0.1% was foreign exchange movements while 0.9% was equity gains.
See also: Hidden Value Stocks
This performance appears lackluster when compared against strong equity market performances around the world over the same period. However, as a relatively new fund, and considering the market environment, the managers have decided to deploy cash slowly and had net equity exposure of only 28% at the end of January 2018, according to a copy of the fourth quarter letter that has been reviewed by ValueWalk. At the end of January, the fund was 40% gross...
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