Fat Prophets Global Contrarian Fund Ltd. (AU:FPC) has released an update.
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The Fat Prophets Global Contrarian Fund reported a decrease in net tangible asset (NTA) backing in June, with a pre-tax decline of 7.19% and a post-tax decrease of 5.12%, attributed to market corrections in the resources sector, particularly in copper, uranium, and precious metals. Despite this, the Fund has seen NTA recovery since June and remains optimistic, highlighting potential benefits from a weakening US dollar and adding British Telco BT Group to its portfolio, anticipating significant valuation improvements and cashflow increases.
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