In just over three months, market sentiment has shifted from exuberance and optimism to fear, and back again. Having successfully navigated the worst of the Coronavirus outbreak we turn our attention and resources to the opportunities a crisis inevitably delivers. These will be quality companies, structurally unimpaired, perhaps with delayed earnings and certainly much better value than prior to the crisis.
Joseph shared our investment thesis for two recent portfolio additions, Magellan Financial Group and Scentre Group while also discussing why we reduced our holding in Aristocrat Leisure, as we identified the ramifications from the pandemic shutdowns.
For more information about investing in The Montgomery Fund, please visit the fund's web page.