In 2023, the Aoris International Fund returned more than 30% to investors and the major contributors were not growthy tech-centric. How did we do it? Our style is 'Quality First, Value Investing' and Its incredibly simple. Quality First: We seek to own unusually high-quality businesses that have endured many cycles and are proven market leaders, consistently profitable, competitively advantaged, lead by strong management, and have conservative capital structures not burdened by debt. Value Investing: We then purchase these businesses at discounts to their intrinsic value.
The Aoris International Fund proudly concluded the year 2023 with an outstanding return of 30.8% (net of fees) for our valued investors, surpassing the benchmark performance of 21.6%. In our 2023 Annual Investor Letter, penned by CIO Stephen Arnold, we delve into an analysis of our portfolio contributions and changes. The letter also highlights our approach to navigating challenging market conditions. Moreover, we explore the nuanced realm of investing judgments versus knowledge, and shed light on the opportunities arising from the dispersion of equity returns. ------------------------------------------------------------- This information has been prepared and issued by Aoris Investment Management Pty Ltd ABN 11 621 586 552 / AFSL 507281 (Aoris) as the investment manager of the Aoris International Fund (Fund). The Trust Company (RE Services) Limited ABN 45 003 278 831 is the responsible entity and the issuer of units in the Fund. For general advice only and does not take into account the objectives, financial situation or needs of investors. Read the PDS and Target Market Determination (TMD) available at https://lnkd.in/gMCKKEVU to see if the product is right for you. All investments contain risk and may lose value
