During October 2019 the Ethical Partners Australian Share Fund returned -3.52% versus the S&P/ASX 300 Accumulation Index of -0.38%, underperforming the market by-3.14% (after fees). A small number of stocks contributed the majority of the underperformance during October and we detail our reasons for our positions and their outlook below. Over the last quarter the Fund benefited from an underweight position in Materials and an overweight position in Industrials. Key detractors over the last quarter included an underweight position in Health care and an overweight position in both Financials and Consumer Staples.
See full report attached.
