The first six months of 2023 was a roller coaster ride. At the risk of being succumbing to confirmation bias, it demonstrated again how little value there is in trying to forecast the market. 2023 began with many commentators’ expectations of doom and gloom in the midst of a historically aggressive interest rate tightening cycle.
Yet, share markets have performed quite well against such a backdrop, including a strong recovery in technology stocks.
Many companies have been able to grow very rapidly for a short period of time, perhaps even for a few years. But few are able to sustain high growth rates for long periods of time. Those that do become the core investment holdings we are searching to invest in.
While the current economic slowdown present/create clear headwinds to companies’ growth in the near term, we think it also sows the seeds for tailwinds longer term growth.
The Prime Value Opportunity Fund aims to deliver strong absolute returns for investors, with a focus on downside protection, over the medium term. The Fund is Long only and invests in quality growing companies that are helmed by strong management teams. S.T Wong is the Chief Investment Officer and Portfolio Manager at Prime Value Asset Management where he has managed the Prime Value Opportunities Fund since its commencement in 2012.
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