AtlasTrend February 2024 Portfolio Scoop

 

The best performers were Hong Kong’s Hang Seng HSCEI Index and China’s Shanghai Index, which were up +9.32% and +8.13% (local prices) respectively.

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.

 

February 2024 Highlights

  • Most developed markets continued their rally as Chinese markets also joined the upward momentum after months of underperformance. Strong corporate earnings especially in growth sectors such as technology fueled the rally.

  • The best performers were Hong Kong’s Hang Seng HSCEI Index and China’s Shanghai Index, which were up +9.32% and +8.13% (local prices) respectively, as Chinese markets experienced a bounce back month.

  • The largest negative performances were the U.K. FTSE 250 Index and FTSE 100 Index, down -1.57% and -0.01% (local prices) respectively.

  • The -1.08% fall by the AUD against the USD, benefitted AUD returns for the Trends and indices.

  • The monthly performances across our Trends were +5.20%, +6.98% and +6.80% for the Big Data, Online Shopping and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +5.92%).

In the last 12 months, we have delivered performances of +50.19%, +15.24% and +3.66% for the Big Data, Online Shopping Spree, and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +29.79%).

In the last 6 months, we have delivered performances of +19.52%, +3.80% and +2.70% for the Big Data, Online Shopping Spree, and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +11.92%).

In the last 3 months, we have delivered performances of +12.18%, +6.27% and +8.77% for the Big Data, Online Shopping Spree, and Clean Disruption Trends respectively (versus MSCI World ex Australia Index of +12.74%).

Big Data Big Fund

The Trend return for the month was +5.20% and since launch (9 November 2015) is +192.39%.

This Trend has delivered a +13.79% return per annum since inception.

This Trend had a strong positive month led by Meituan, Alarm.com, Amazon.com, Spotify and Salesforce.com. Underperformance was led by Palo Alto Networks, which announced a mix earnings result with slowing revenue but growing profitability. Other negative performers included Apple and Alphabet and a small position in NCSoft.

As of the end of February 2024, this Trend consisted of 16 companies. We took advantage of the rally in Chinese equities to exit from Tencent and small positions in Meituan and JD.com.

 

Online Shopping Spree Fund

The Trend return for the month was +6.98% and since launch (9 November 2015) is +93.73%.

This Trend has delivered a +8.29% return per annum.

This Trend had a very strong month with most names outperforming, led by Meituan, Disney, eBay, Amazon.com, Netease and Target. The negative performers included TheRealReal, Expedia.com and Apple.

As of the end of February 2024, this Trend consisted of 14 companies. We took advantage of the rally in Chinese equities to exit from Tencent, Meituan and a small position in JD.com.

Clean Disruption Fund

The Trend return for the month was +6.80% and since launch (6 June 2018) is +55.61%.

This Trend has delivered a +8.02% return per annum since inception.

This Trend had a strong turnaround month led by the bounce back of Tomra Systems as well as Rockwool, KLA, Xylem. Schneider Electric, BYD and Waste Management. The negative performers led by Varta, IPG Photonics, Northland Power and Iberdrola.

As of the end of February 2024, 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.

 
 
 
AtlasTrendGuest UserMarket insights