In our June Letter to Investors we reflect on what has been a year to remember for equity markets and assess whether they are over-valued. We also outline four factors we believe are key to the Ophir funds outperforming during “bad” markets

In our May 2020 Letter to Investors we discuss whether the remarkable rise in global share markets can continue and why as investors now is the time to be very selective.

In our April 2020 Letter to Investors we review what caused markets to rebound, what we’ve been doing about it, and identify some trends emerging in consumer behaviour.

In our March 2020 Letter to Investors we review the historic nature of the month of March, the challenges and opportunities that lie ahead and how we are positioning the Funds.

In our February 2020 letter to investors we discuss how the coronavirus has seen a correction in sharemarkets as well as takeaways from the February reporting season in Australia.

In our January 2020 Letter to Investors we discuss how the coronavirus is affecting markets and how the Australian sharemarket bucked the trend to rise over the month.

In our December 2019 letter to investors we discuss why markets have performed so well over 2019 and whether those tailwinds will continue.

In our November 2019 Letter to Investors we review how many major sharemarkets are on track to post their highest calendar year returns since the GFC despite global economic growth slowing to post GCF lows. We also announce a change we are making to how we present the performance of our funds.

In our October 2019 Letter to Investors we highlight how better news on a trade deal between the US and China, as well as further monetary easing globally helped lift most sharemarkets, though the local bourse was conspicuously left behind. We also provide a business update on our activities to close the discount to Net Tangible Assets for the Ophir High Conviction Fund.

In our September 2019 Letter to Investors we review the significant style rotation that featured in equity markets both in Australia and overseas during the month. We then discuss our view on the causes and how we think about them in the context of the Ophir Funds.