It was a somewhat disappointing month for the Alpha Plus fund which until the final week of March had been performing well versus a struggling market. However, following a reasonable sell-off across the broader index, we began to hunt for bargains and rotated back into a handful of stocks which had fallen significantly, and which we thought were cheap enough to be insulated from ongoing trade concerns. The fund fell 5.7% (net) to underperform the ASX200 Accumulation Index which was down 3.4%. From inception the fund has returned 10.9% pa versus the ASX200 return of 8.1% pa (annualized outperformance of 282bps pa).
