September, 2023
The S&P/ASX Small Ordinaries Accumulation Index returned -1.94% for the quarter. The fund outperformed the market and delivered a -0.63% return over the quarter.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPMCF_FR_202309.pdfJune, 2023
The S&P/ASX Small Ordinaries Accumulation Index returned -0.54% for the quarter. The fund underperformedis in line with the market and delivered a -0.55% return over the quarter
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPMCF_FR_202306.pdfMarch, 2023
The S&P/ASX Small Ordinaries Accumulation Index returned +1.88% for the quarter. The fund underperformed the market and delivered a +0.45% return over the quarter.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPMCF_FR_202303.pdfJanuary, 2023
The S&P/ASX Small Ordinaries Accumulation Index returned +6.56% for January. The fund underperformed the market and delivered a +3.17% return over January.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPSCF_FR_mnth_202301-1.pdfDecember, 2022
The S&P/ASX Small Ordinaries Accumulation Index returned +7.54% for the quarter. The fund underperformed the market and delivered a +4.74% return over the quarter.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPMCF_FR_202212.pdfSeptember, 2022
The S&P/ASX Small Ordinaries Accumulation Index returned -0.47% for the quarter. The fund outperformed the market and delivered a +7.94% return over the quarter.
Australian shares fell sharply in September as global monetary tightening continues despite softening economies and falling asset prices. The ASX Small Ordinaries (Accumulation) Index plunged 11.2% last month, erasing strong gains in July and August to finish 0.5% lower for the September quarter. Evidence of slower US growth prompted a fierce global equity rally in July on hopes that central banks, led by the US Federal Reserve, would pivot from fighting inflation to support employment and financial markets. Those hopes were dashed, however, by US Fed Chair Powell's hawkish speech at Jackson Hole, which was followed by further large interest rate hikes by several central banks including the Reserve Bank of Australia. Domestically the August reporting season reflected strong momentum in the Australian economy, and data such as retail sales and low unemployment remain indicative of strong demand. Despite positive trading conditions, businesses are cautious, and expectations are mounting of a potential downturn when aggressive interest rate hikes finally wash through the economy. Small resources fell 13.5% last month, but gained modestly for the quarter, while small industrials fell 10.5% for the month but finished modestly lower for the quarter. Rate-hike pressure remains heaviest on long-duration stocks such as unprofitable technology companies and consumer-facing companies like discretionary retail and media businesses. The resources sector is split by those facing potential shortages, such as coal, energy and battery minerals, and expectations that an economic slowdown will hit demand for metals like iron ore and copper.
Bond markets signalled volatility ahead with sharp rises in yields and turmoil in the UK gilts market after a government fiscal package was announced that undermined Bank of England policy goals. Currency markets were similarly roiled with a sharp sell-off in the pound and sustained US dollar strength, which has implications across a range of inputs including commodities that are priced in US currency.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPMCF_FR_202209.pdfJune, 2022
The S&P/ASX Small Ordinaries Accumulation Index returned -20.39% for the quarter. The fund outperformed the market and
delivered a -18.92% return over the quarter.
March, 2022
The S&P/ASX Small Ordinaries Accumulation Index returned -4.21% for the quarter. The fund outperformed the market and delivered a -1.67% return over the quarter.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPMCF_FR_202203.pdfDecember, 2021
The S&P/ASX Small Ordinaries Accumulation Index returned +2.03% for the quarter. The fund outperformed the market and delivered a +2.59% return over the quarter.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/NPMCF_FR_202112.pdfSeptember, 2021
The S&P/ASX Small Ordinaries Accumulation Index returned +3.44% for the quarter. The fund outperformed the market and delivered a +7.35% return over the quarter.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/180191146.pdfJune, 2021
The S&P/ASX Small Ordinaries Accumulation Index returned +8.50% for the quarter. The fund underperformed the market and
delivered a +3.96% return over the quarter.
March, 2021
The S&P/ASX Small Ordinaries Accumulation Index returned +2.09% for the quarter. The fund outperformed the market and
delivered a +5.86% return over the quarter.
December, 2020
The S&P/ASX Small Ordinaries Accumulation Index returned +13.83% for the quarter. The fund underperformed the market and
delivered a +12.56% return over the quarter.
September, 2020
The S&P/ASX Small Ordinaries Accumulation Index returned +5.67% for the quarter. The fund outperformed the market and delivered a +15.05% return over the quarter.
File: https://commentary.quantreports.net/wp-content/uploads/2020/12/159123012.pdfticker: HOW0027AU
commentary_block: Array
factsheet_url:
https://www.novaportcapital.com.au/our-funds/fund-reports/2021-2/
release_schedule: Quarterly
fund_features:
NovaPort Micro-cap Fund aims to outperform its benchmark over rolling seven-year periods through the investment in a diversified portfolio of micro-cap Australian companies. The Fund invests in a diversified portfolio of shares, primarily listed Australian companies with a market capitalisation of generally less than A$250 million at the time they are first acquired on behalf of the Fund (‘micro-cap companies’).
- Up to 10% of the Fund can be invested in unlisted companies, usually those that intend to list within 18 months.
- Up to 10% of the Fund can be invested in New Zealand securities
- The Fund may also invest in cash and hybrid securities such as convertible notes, redeemable preference shares and partly paid shares.
- The portfolio is generally consist of 25 – 65 securities.
manager_contact_details: Array
asset_class: Domestic Equity
asset_category: Australian Small Cap
peer_benchmark: Domestic Equity - Small Cap Index
broad_market_index: ASX Index Small Ordinaries Index
structure: Managed Fund