The Montgomery Fund performance was a story of two halves during the financial year ending 30 June 2022, with solid returns posted in the first six months, outperforming the market as measured by the S&P / ASX 300 Accumulation Index. However, with record inflation and rising interest rates impacting the economy and sentiment, we have delivered a negative return in the ensuing six months despite a broadly defensive portfolio.
As a benchmark unaware strategy, we covered our quality focus and the drivers of how we define quality. Joseph talked through the notable portfolio addition and exits and sector contribution to performance.