Ethical Investment June 24 Quarterly Report
Dear Investor,
I am pleased to announce the release of the June 2024 Quarterly Report for our Funds. From this month, we will be releasing our quarterly reports in a new format, as a downloadable PDF for your convenience. Please access the report via the button below, or see highlights below the fold.
Quarterly Highlights
The ELMRI ANZ Conviction Fund delivered superior returns for our investors, outperforming its benchmark by 9.6% for the 2024 fiscal year and 2.7% for the quarter.
The ELM Responsible Investments Global Fund was steady for the quarter, decreasing 0.2%, slightly underperforming its benchmark (which increased by 0.3%).
Macroeconomic data out of the US suggests that the high levels of inflation since the pandemic is coming to an end. We look forward to a period of lower inflation and interest rates in the near future, which we anticipate will drive strong growth in our Technology and Renewable Energy holdings.
Company Profiles
The report profiles key holdings that have driven fund performance over the quarter, and over FY24, including:
The continued rise of Pro Medicus, and why their unique contract structure secures future growth.
What the future holds for Fisher and Paykel Healthcare after four years of increased volatility caused by the COVID-19 pandemic.
Why Infratil’s business model within the renewable energy sector is highly impactful while still delivering investor returns.
Our assessment of whether NVIDIA can maintain their current revenues and market valuation.
The new area of healthcare that Novo Nordisk is investing into, after GLP-1s have driven them to be the most valuable company in Europe.
Conclusion
We are committed to investing in the most innovative and impactful growth companies and I am optimistic about the future potential of our investment strategies. I am pleased to note that our ANZ Conviction Fund is now outperforming its benchmark over both short- and long-term periods, as it approaches five-years since inception, demonstrating the benefits of our long-term .
If you wish to discuss any aspect of this report in greater detail, please do not hesitate to reach out. I would be more than happy to arrange a meeting at your convenience. Those interested in investing with us can explore our product pages and review our fund documentation by clicking the buttons provided below.
Thank you for your ongoing interest and support.
Kind regards,
Jai Mirchandani
This note has been prepared by ELM Responsible Investments (‘ELMRI’) ABN 70 607 177 711 AFSL 520428, for Australian wholesale clients for the purposes of section 761G of the Corporations Act 2001 (Cth).
The information is not intended for general distribution or publication and must be retained in a confidential manner. Information contained herein consists of confidential proprietary information constituting the sole property of ELMRI and its investment activities; its use is restricted accordingly.
This note is for general informational purposes only and does not purport to be comprehensive or to give advice. The views expressed are the views of the writer at the time of preparation and presenting and all forecasts, assumptions, opinions, data and other information are not warranted as to accuracy or completeness and are subject to change without notice. This is not an offer document and does not constitute an offer or invitation of investment recommendation to distribute or purchase securities, shares, units or other interests to enter into an investment agreement. No person should rely on the content and/or act on the basis of any material contained in this note. Any potential investor should consider their own circumstances and seek professional advice.
ELMRI funds, its directors, employees, representatives and associates may have an interest in the named securities.
Past performance is for illustrative purposes only and is not indicative of future performance.