Page 2 - Specialist Growth Moderate_SMA_qtrly_2212

Performance history

$100,000 invested since 24/03/2022
$105000

$100000

$95000

Mar 22 Sep 22
24/03/2022 - 30/12/2022 Powered by data from FE fundinfo
Portfolio
Benchmark
Managed portfolio holdings³

Holding Asset class Allocation (%)
Activex Ardea Real Outcome Bond Fund (Managed Fund) Active X Ardea RL International Fixed Interest 8.0
Ampol Limited Ordinary Fully Paid Australian Equities 0.9
Aristocrat Leisure Limited Ordinary Fully Paid Australian Equities 0.9
Betashares Active Australian Hybrids Fund (Managed Fund) Betashares Ac Australian Fixed Interest 8.0
Betashares Australian Major Bank Hybrids Index Etf Betashares Australi Australian Fixed Interest 8.0
Betashares Westn Asset Aus Bond Fund (Managed Fund) Betashares West As Australian Fixed Interest 24.0
Carsales.Com Limited. Ordinary Fully Paid Australian Equities 0.9
Cash Account Cash 2.0
Corporate Travel Management Limited Ordinary Fully Paid Australian Equities 0.9
CSL Limited Ordinary Fully Paid Australian Equities 0.9
Domino's Pizza Enterprises Limited Ordinary Fully Paid Australian Equities 0.9
Downer Edi Limited Ordinary Fully Paid Australian Equities 0.9
GQG Partners Inc. Cdi 1:1 US Person Prohibited Excluding Qib Australian Equities 0.9
Ishares Global 100 Etf Ishares Global 100 Etf International Equities 6.0
Ishares S&P 500 Etf International Equities 5.0
James Hardie Industries PLC Chess Depositary Interests 1:1 Australian Equities 0.9
Lendlease Group Fully Paid Ordinary/Units Stapled Securities Australian Equities 0.9
Macquarie Group Limited Ordinary Fully Paid Australian Equities 0.9
Magellan Asset Management Ltd (Core Series) Mfg Core Infrastructure Fu Australian Equities 10.0
Mineral Resources Limited Ordinary Fully Paid Australian Equities 0.9
Resmed Inc Cdi 10:1 Foreign Exempt NYSE Australian Equities 0.9
Seven Group Holdings Limited Ordinary Fully Paid Australian Equities 0.9
South32 Limited Ordinary Fully Paid Australian Equities 0.9
TPG Telecom Limited. Ordinary Fully Paid Australian Equities 0.9
Treasury Wine Estates Limited Ordinary Fully Paid Australian Equities 0.9
Vanguard All-World Ex-Us Shares Index Etf Vanguard All-World Ex-Us Sha International Equities 9.0
Vanguard Msci Australian Small Companies Index Etf Vanguard Msci Austr Australian Equities 4.0

Quarterly manager commentary

Market Update
The December quarter saw a strong period for markets locally and globally, providing a positive end to a very tough calendar year where almost
nothing worked outside of cash and private assets (which have yet to be revalued).

The positive quarter in markets was driven by improvements (or no worsening) of risks surrounding central bank policy tightening, inflation, and China
lockdowns, with investors comfortable enough to dip their toes back in the water with plenty of assets showing valuation appeal.

Whilst central banks continued tightening policy in the quarter by raising rates and shrinking their balance sheets, many did slow the pace of
tightening in addition to comments that seemed to indicate that they had done most of the heavy lifting.

That was somewhat confirmed by inflation data in the US abating whilst leading economic indicators continued to weaken, resulting in rising