Strong return for Hayberry in Australia


After a successful 2010 with a 11.89% return, stock-specific wins continued to help the Hayberry Australian Equity Fund to a 3.2% gain for January.

The fund continues to focus on value stocks that benefit from a weak Australian dollar, combined with a large cash position. The latter reflects the narrow field of opportunity for Australian equity funds, because of enthusiasm for China and other emerging markets on commodity currencies such as the Australian dollar, says Hayberry’s Rohan Hedley.

Healthcare continues to be a major sector of interest, making up almost 40% of the portfolio, with other weightings in