AtlasTrend April 2023 Portfolio Scoop
Positive performers were led by U.K.’s FTSE 100 Index, up 3.13% and Japan’s Nikkei 225 Index, up +2.91% (local prices).
Written by Kevin Hua Co-founder & Chief Investment Officer
This information does not take into account your personal objectives, financial situation or needs. You should consider if the relevant investment is appropriate having regard to your own objectives, financial situation and needs.
April Highlights
Developed markets were generally positive although Hong Kong markets and U.S. technology and growth companies underperformed the broader market.
Positive performers were led by U.K.’s FTSE 100 Index, up 3.13% and Japan’s Nikkei 225 Index, up +2.91% (local prices).
Weakness came from Hong Kong’s HSCEI and HSI Index, down -3.83% and -2.48% respectively (local prices).
Weakness of the AUD by +1.06% against the USD and +0.83% against the € helped AUD returns for the Trends and indices.
The monthly performances across our Trends were -1.68%, -0.01% and -0.82% for the Big Data, Online Shopping and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +3.16%).
In the last 12 months, we have delivered performances of +1.57%, -3.59% and +9.32% for the Big Data, Online Shopping Spree, and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +11.12%).
In the last 6 months, we have delivered performances of +7.44%, +9.76% and +7.05% for the Big Data, Online Shopping Spree, and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +8.61%).
In the last 3 months, we have delivered performances of +8.95%, +2.78% and +6.35% for the Big Data, Online Shopping Spree, and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +9.40%).
Big Data Big Fund
The Trend return for the month was -1.68% and since launch (9 November 2015) is +106.27%.
This Trend has delivered a +10.17% return per annum since inception.
This Trend retreated as technology stocks struggled overall. It was led by positive contributions from Alphabet, Apple, Amazon.com and Digital Realty.
Negative performers were led by JD.com, Seagate, Tencent, Splunk and Palo Alto Networks.
Results of the large cap technology names surprised on the upside. Alphabet’s cloud business reported its first profit, and its incumbent search business remains strong.
Amazon.com’s quarterly profit also topped estimates as cost cuts and strong sales in its cloud business lead results. However, revenue growth in cloud computing slowed in April.
As of the end of April 2023, this Trend consisted of 19 companies.
Online Shopping Spree Fund
The Trend return for the month was -0.01% and since launch (9 November 2015) is +77.60%.
This Trend has delivered a +7.99% return per annum.
This Trend had a mixed performance. Volatility remained in its Chinese positions such as Alibaba, Netease, JD.com and Tencent as they experienced weakness. Positive performers were led by Electronic Arts, eBay, Apple, Walmart and Disney.
News of SoftBank making plans to sell its majority of its stake in Alibaba resulted in weakness in Alibaba.
Softbank has already sold more than US$7 billion in Alibaba shares this year, after selling US$29 billion last year. It is aiming to reduce its ownership of Alibaba to less than 4%.
As of the end of April 2023, this Trend consisted of 17 companies.
Clean Disruption Fund
The Trend return for the month was -0.82% and since launch (6 June 2018) is +58.43%.
This Trend has delivered a +9.85% return per annum since inception.
This Trend also had a mixed performance, led by Siemens Healthineers, BYD, Schneider Electric and Orsted.
Weakness came from First Solar (as investors took profits from a strong 2023 rally), Varta, Tomra and Vestas Wind Systems.
BYD became China’s best-selling car brand for the first time, ahead of Volkswagen by selling more than 440,000 electric vehicles in 1Q 2023.
As of the end of April 2023, this Trend consisted of 18 companies.
Important notice
Any managed investment fund product (Fund) mentioned in this communication is offered via a Product Disclosure Statement (PDS) which contains all the details of the offer. The PDS is issued by Fundhost as responsible entity for the Funds. Before making any decision to make or hold any investment in a Fund you should consider the PDS in full. The PDS is available at www.atlastrend.com/pds or by calling AtlasTrend on 1800 589 778. The Target Market Determination is available here. A copy of AtlasTrend’s financial services guide can be found at www.atlastrend.com/fsg.
Investment returns are not guaranteed. Past performance is not a reliable indicator of future performance. Disclosed investment returns assume reinvestment of all distributions. For the Clean Disruption Fund performance is shown net of fees. For the remaining Funds performance is shown net of fees from 7 June 2018 and prior to that performance is shown gross of any fees. Click here for more details about current and previous fee arrangements.