LONG TERM CAPITAL FUND FACTSHEET (JUL 2024)

Vol. Jul 2024 – Long Term Capital Fund Factsheet.

The Fund aims to deliver a steady combination of long-term capital growth and income by investing globally in a range of asset classes.

Please submit the form below to view the fund’s portfolio characteristics and performance for the month.

Further reading from Kamet capital

INCOME INNOVATION FUND FACTSHEET (Sep 2024)

What an eventful month! The Fed cut rates by 50bps, and China announced both monetary and fiscal stimulus ahead of the Golden week. While the Chinese government’s policy pivot was surprising, it is critical for its property sector to stabilize. With China’s high rate of home-ownership, falling property values creates a falling wealth effect which would negatively affect consumer confidence and lead to dampened consumer spend.

We view this as China’s ‘Whatever it takes’ moment and believe it will underpin confidence going forward. While the path to recovery remains uncertain, Chinese equities continue to represent good value. Our focus on high-quality businesses, strong cash flow and a shareholder-friendly dividend policy continue to give us confidence in delivering strong performance through market cycle.

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INCOME INNOVATION FUND FACTSHEET (Aug 2024)

August was a tale of two halves – it began with high volatility (VIX soared to 65intra-day) but ended the month positively despite China’s muted recovery weighing on sentiment. Increasingly, we start to see value emerging in the Chinese consumer sector even as confidence remains at all-time low.

Having anticipated some market volatility, we took the opportunity to redeploy our cash positions. We initiated new positions in a Chinese housing platform company and diversified globally through a global aircraft lessor company and a US residential mortgage REIT. Our new positions are leaders in their respective verticals that we believe have strong business models with unique competitive advantages including economies of scale, strong corporate culture and sound capital allocation policy.

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