Fat Prophets Global Contrarian Fund Ltd. (AU:FPC) has released an update.
Fat Prophets Global Contrarian Fund Ltd. reports a decrease in their net tangible asset backing for August, with pre-tax NTA falling by 7.48% and post-tax NTA by 5.61% due to market volatility and a significant drawdown in the Japanese stock market. The fund has also reduced leverage and portfolio exposure while maintaining a positive outlook on Japanese equities and precious metals, anticipating a recovery in the latter as the US dollar weakens and interest rates potentially rise.
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