Commentary March 2020 | Surrey Australian Equities Fund Investment

The Surrey Australian Equities Fund is pleased to provide the March 2020 update where we share with you insights from inside the portfolio, discussing performance to date and the Fund outlook moving forward.

March saw equity markets and most asset classes decline sharply as fears surrounding the impact of the Covid 19 swept the globe.  For the month the S&P ASX 200 index fell by 21% while the S&P ASX Small Ordinaries Accumulation index fell 22% and the Emerging Companies (micro cap) index fell 31%. The Surrey Fund returned -18.7% for the month outperforming the index by a positive +3.7%.

While we are personally very disappointed with the absolute return of the Fund in March we are confident we have the means and access to market opportunities to participate in the recovery. We were pleased the Fund structure assisted managing the out-performance of the benchmark index by allowing the Fund to move to higher than normal cash levels (27.5%). We have constructed a portfolio fit for the volatility and opportunities that are present and that will emerge enabling the opportunity to recover the performance.

Investing through volatile times can be very challenging. For those investors who have been waiting for the market to retrace from all time highs and valuation improvements, this volatility may provide an opportunity. Any investor that would like to understand the Surrey Fund  further, please reach out for a meeting via conference call or Zoom. 

The Fund’s minimum application amount is $100,000, if any investor requires an alternative minimum, please don’t hesitate to contact Nick or Michael directly. Applications for new and existing investors can now be made online or visit our website. The Fund is open to new investors, links to the updated Information Memorandum and applications are via the buttons below. 

Thank you for your ongoing interest.

Nick Maclean & Michael Woolhouse

Directors & Portfolio Managers

Surrey Asset Management

Email: Mobile: 0425 726 305

Email: Mobile : 0409 145 645