05 Jun Munro Global Growth Fund Monthly Report – May 2017
The Munro Global Growth Fund returned 4.2% for the month of May, comprising a return of 4.0% from equities and 0.2% from currency. The MSCI AC World Index (AUD) meanwhile returned 2.7% for the month (1.6% from equities, and 1.1% from currency). Despite all the noise around US politics and geo political tensions, markets were positive again in May with the US S&P 500 up 1.2%, the European Stoxx 600 up 0.8% and the Japanese Topix up 2.4%.
In terms of stock specific attribution for the month, performance was driven by Artificial Intelligence plays Blue Prism and Micron, as well as video game publishers Activision Blizzard and Electronic Arts. Elsewhere, eCommerce companies Amazon and Baozun were also strong, whilst Big Data stocks TransUnion and IHS Markit also contributed positively.