Fat Prophets Global Contrarian Fund Ltd. (AU:FPC) has released an update.
Fat Prophets Global Contrarian Fund Ltd. reports a positive performance in July, with an increase in their net tangible asset backing, but acknowledges heightened market volatility with sharp drawdowns in value, particularly in Japanese equities, due to external market events. Despite recent turmoil, the Fund remains optimistic about a recovery in Japanese stocks, underpinned by strong corporate results and ongoing share buybacks. The Fund has reduced leverage by cutting exposure in certain areas while maintaining confidence in the potential of Japanese equities, which they believe are currently undervalued.
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