Absolute Return Fund Performance: July 2025

The Fund rebounds with 7.46% return in July 2025

The Datt Absolute Return Fund gained 7.46% in July 2025, significantly outperforming its benchmark (RBA Cash Rate + 5%), which rose 0.75%.

This strong monthly performance highlights the Fund’s ability to preserve capital while capturing upside, consistent with its objective of generating resilient absolute returns through different market conditions.

Download Full Report

To summarise:

• Monthly return: +7.46%
• 12-month rolling return: +23.96%
• Annualised return since inception: +18.47%
• Net return since inception: +226.72%
• Fund status: Open to wholesale investors

Performance reported after all fees and expenses. Inception August 2018. Past performance is not an indicator of future performance.

Disclaimer

• The Fund’s benchmark is the RBA Cash Rate plus 5% per annum.
• Past performance is not a reliable indicator of future results and does not guarantee future returns. Investment in the Fund is limited to wholesale and sophisticated investors as defined under Australian law.
• The Datt Absolute Return Fund was launched in August 2018. Returns shown are calculated net of all fees and expenses and reflect the actual performance since inception. Performance may vary for individual investors depending on the timing of their investment.

Portfolio Positioning in July

• Technology and financial services exposures contributed positively to performance.
• Gold exposures were reduced, with capital reallocated into diversified small companies ahead of reporting season.
• At month end, the Fund held 20 positions, with the top five accounting for 47% of capital.

Market Environment and Valuations

The ASX200 Index gained more than 2% in July, supported by strength across multiple sectors. The RBA commenced a rate-cutting cycle, which may indicate weaker economic conditions ahead.

Large caps continue to trade at expanding valuation multiples, leaving a wide differential compared with small caps. We believe this dynamic creates ongoing opportunities for active investment managers in Australia.

Australian assets remain attractively valued relative to global peers, presenting compelling opportunities from both a relative value and potential M&A perspective.

Positioning for the Months Ahead

The Fund is highly enthusiastic about its underlying portfolio, with exposure spread across high-conviction opportunities. We believe the portfolio is well positioned to benefit from earnings season while maintaining resilience against potential volatility.

Our disciplined approach, focusing on capital preservation first and asymmetric risk-reward opportunities, continues to underpin our confidence in delivering consistent long-term outcomes.

About the Datt Absolute Return Fund

The Datt Absolute Return Fund, launched in 2018, seeks to achieve double-digit absolute returns over medium-term horizons, regardless of market conditions. The Fund invests in a concentrated, high-conviction portfolio of Australian listed equities and other select opportunities, applying a disciplined multi-asset approach to temper volatility. As an independent investment fund manager in Australia, we remain fully aligned with our investors by co-investing alongside them.

Want to learn more about the Absolute Return Fund? Visit the Fund Page or contact our Head of Distribution, Daniel Liptak, on 0419 004 524 or via email at daniel@datt.com.au.