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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
|---|---|---|---|---|---|---|---|
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"SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Conscious Investments ahead of the upcoming reporting season."
SCAF finished June 2025 down -1.8%, lagging the S&P/ASX 200 Accumulation index which rose 1.4%. Positive performance contributions from COG, BCI, and KAR were offset by declines in FWD, SXL, IDT, and QPM. Key developments included Carbon Conscious Investments Ltd selling premium carbon credits at $54/unit, and QPM raising capital via a placement—which SCAF participated in—to fund its Isaac Power Station. Karoon Energy expanded its footprint in Brazil's Santos Basin. The fund remains 97% invested heading into the FY25 reporting season.
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Algorithmic conviction, macroeconomic posture, and risk appetite signals extracted from this quarterly letter with qualitative explanations.
Market Conviction
High-conviction positioning: SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Growth Outlook
Market outlook remains above average conviction: SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Risk Appetite
Risk appetite posture is above average conviction: SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Capital Deployment
Manager actively deployed capital into high-conviction opportunities. SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Forward Guidance
Forward guidance signal: SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Language Signal
Tone analysis indicates above average conviction language: SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Perceived Risk
Perceived risk level is evaluated as moderate conviction. SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Opportunity Density
Opportunity density index indicates above average conviction actionable entry points. SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
Time Horizon
Investment time horizon reflects a high conviction orientation. SCAF declined -1.8% in June, underperforming the broader Australian index, but continues to back active development catalysts across core holdings like QPM Energy and Carbon Consci...
