KLS Lomas US Equity Long Short

Investment Objective

The investment objective of the Fund is to generate capital growth over a medium to long term investment horizon. The fund seeks to achieve its objective through a fundamental long short equity strategy focussed on US stocks and investing across all sectors with a primary focus on consumer, industrial and financials.

Latest Meeting Note

Q2 2019 Update 24 Jul 2019

The KLS Lomas US Equity Long Short ended Q2 +6.1% YTD. Through the quarter the team reduced gross exposure (across both longs and shorts) reflecting their view of a less compelling opportunity set in the face of a strong market rally. Th... Read more

The KLS Lomas US Equity Long Short ended Q2 +6.1% YTD. Through the quarter the team reduced gross exposure (across both longs and shorts) reflecting their view of a less compelling opportunity set in the face of a strong market rally. The Walt Disney Company was a top performer during the quarter. We had previously identified the company’s April analyst day as a potential positive catalyst. At the analyst day, senior management fully articulated for the first time its vision for “Disney Plus”, its upcoming direct to consumer streaming video product. The company sized the market opportunity, revealed pricing for the service and highlighted some of the initial content. This led to a re-rating of the stock as more investors began to pivot to a sum of the parts framework for valuation/

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2018 0.2 0.2 0.8 0.4 0.1 1.0 0.0 0.6 0.4 0.6 0.7 0.6 0.5
2017 0.2 0.7 0.7 0.1 0.8 1.0 0.8 0.5 0.2 0.3 1.0 0.4 0.9

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