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Market Commentary

Market Commentary – October 2017

Global equity markets rose +2.1% (USD terms, +4.5% AUD) during October with cross-asset risk appetite showing no signs of abating.  Despite lingering concerns around North Korea, instability in Venezuela and recent developments in Washington and Catalonia, markets continued to be buoyed by a broadening of the global economic upswing and improving corporate earnings.

For the month of October the Antipodes Global Fund, Antipodes Global Fund – Long Only and Antipodes Asia Fund underperformed their respective benchmarks. Major contributors to performance included our Online Services, Consumer and Software Incumbent, Global Cyclical, Natural Gas and Low Cost Oil exposures, whilst our short exposures detracted.

For further information, please refer to our October fund update.