05 Sep Munro Global Growth Fund Monthly Report – August 2017
The Munro Global Growth Fund returned 3.25% for the month of August, comprising a return of 3.15% from equities and 0.10% from currency. The MSCI AC World Index (AUD) meanwhile returned 1.04% for the month (0.38% from equities and 0.66% from currency).
Major events in focus for the month included the ongoing escalation of tensions on the Korean peninsula as well as the impact of Hurricane Harvey in Texas. Despite all the negative headlines, volatility (as measured by the VIX), drifted back to near all-time lows of 10 from an intra-month high of 17.
On a stock-specific basis, positive performance for the Fund was driven by British robotic process automation company Blue Prism, US video game publisher Take-Two Interactive and Irish building materials company, Kingspan.