July 2018

This investment commentary contains the following articles:

 

Quarter in review

Sell downs by founders.  In June we saw the good the bad and the ugly.

To be or not to be?  (A conglomerate.)

Corporate Values - worth the effort?

Dire Straits 

 

We first review investment performance and activity for the previous quarter. We then discuss our observations of founder equity sell downs in “Sell downs by founders. In June we saw the good the bad and the ugly”. We then consider the future for Fletcher Building in “To be or not to be? (A Conglomerate)” and review the value of corporate value statements in “Corporate Values, worth the effort?”.  Finally, we observe what, in our opinion, is a deterioration in the quality of some infrastructure funds in “Dire Straits”.   

  

Disclaimer: The following commentaries represent only the opinions of the authors. Any views expressed are provided for information purposes only and should not be construed in any way as an offer, an endorsement, or inducement to invest. All material presented is believed to be reliable but we cannot attest to its accuracy. Opinions expressed in these reports may change without prior notice. Castle Point Funds may or may not have investments in any of the securities mentioned. 

Product disclosure statements, issued by Castle Point Funds Management Limited, can be found at www.castlepointfunds.com/investor-documents