Our Performance

Investius PB Microcap Fund
Fund Performance as at 31st March 2024

Quarterly Performance Update

Q/e Mar 24 Q/e Dec 23 Q/e Sep 23 Q/e Jun 23 12 months
Fund1 -1.11% -2.17% 6.74% 24.93% 28.39%
Benchmark2 5.34% 5.13% -6.12% -2.66% 1.68%
Difference
(outperformance)
-6.45% -7.30% 12.87% 27.59% 26.71%
1Investius PB Microcap Fund. Returns of the fund are net of applicable fees, costs and taxes. Past performance is not a reliable indicator of future performance.
2Benchmark is the S&P Emerging companies accumulation Index.

Fund Performance

The Investius PB Microcap Fund has now completed 12 months and pleasingly returned 28.35% for the 12 months, outperforming the benchmark by 26.67%.

The Investius PB Microcap Fund returned -1.11% (after fees) for the quarter ended 31st of March, 2024, underperforming the S&P/ASX emerging companies accumulation index by 6.49% (after fees and taxes).

Sector Breakdown

Market Cap Bands

Key Contributors

We have exited our entire holding in Findi (ASX:FND), an Indian ATM operator and digital payment provider based in India. The company has had a stellar run-in share price over the last two quarters, and we were happy with the return profile generated for the fund.
During the quarter, we took a position in Live Verdure (ASX:LV1), a health and wellness company. We are most excited by the strategic pivot by the company into an artificial intelligence platform, Decidr.ai. The platform uses AI in business applications and operations and promises to improve efficiency, consistency, supplier and customer experiences and is hoping to ensure rapid business growth and performance across the businesses that use it.
The fund also enjoyed some success with our investment in a tiny little microcap copper explorer, Culpeo Minerals (ASX:CPO) whose interests are focussed on Chile, the world’s number one copper producer. The stock is very liquid for a microcap and we have taken advantage of that to trade in and out whilst still holding a core position to ensure we do not miss any material upside from positive exploration results.

Key Detractors

Our high conviction holding, Echo IQ (ASX: EIQ) had another quiet quarter in terms of news flow and retraced once again. The June quarter promises to be better with its FDA application imminent as well as our hopes to see some significant contracts and partnerships wins with large US healthcare providers and manufacturers.
We were most disappointed with our holding in education provider, NextEd (ASX: NXD). The labour government has recently reduced visa approvals particularly for international vocational students. This negative industry sentiment coupled with poor market messaging and management from NXD has resulted in the market cap of the company halving in recent months.
We participated in a placement in lithium explorer, Iris Metals (ASX: IR1) at the end of last year with the hope the company will accelerate the development of its flagship project in South Dakota. Unfortunately, the company failed to deliver drill results in a timely manner and has seen its share price fall back significantly in recent weeks.

Updates & Reports

How to
Invest

You can now apply online to the Investius PB Micro Cap Fund or request for a paper based application and Information Memorandum.

Enquiry regarding
application

Please feel free to contact us should you have any enquiries regarding the Investius PB Micro Cap Fund or have an investment opportunity you would like us to review.

How to
Invest

You can now apply online to the Investius PB Micro Cap Fund or request for a paper based application and Information Memorandum.

Enquiry regarding
application

Please feel free to contact us should you have any enquiries regarding the Investius PB Micro Cap Fund or have an investment opportunity you would like us to review.