End of Year 2020 Report

2021-02-11T10:08:31+00:00 February 11th, 2021|

“The value of our good(s)* is not measured by what it does, but by the amount of good it does to the one concerned.”

Milton S Hershey

At Lunar Capital, our ultimate measurement of how well we are doing is not by the fees that we earn or by the value of our assets under management but rather by the financial freedom you, our clients and co-investors have achieved; and the wealth that you have generated for your families.

We have all suffered the consequences of the Covid-19 pandemic; from the loss of those close to us, to hospitalisation or illness, to the loss of jobs or income and being locked-down for extended periods with limited social interactions. I would like express my deep gratitude and to thank you our clients and co-investors, our staff and directors and our business partners for continuing to show faith in us despite the difficulties that you may be facing.

We have had a significant number of new clients joining us in 2020. Welcome to all of you and we hope to have a long and mutually fruitful relationship with you.

Pleasingly, your faith has paid off well for you, our investors; where your investments in the Lunar BCI Worldwide Flexible Fund grew by:

  • 15.57% for the 2020 year, and
  • 42.38% since inception of the Fund (Source: Morningstar).

R100 000 invested in our fund at inception would be worth R 142 000 as at the end of December 2020.

We highlight below the key positioning of the Fund:

  • ±60% of the fund is invested in offshore assets.
  • ±35% is in technology via holdings in Amazon, Microsoft, Square, OKTA, Pinterest, Naspers, amongst others.
  • ±12% is in Biotechnology via holdings in iShares Nasdaq Biotech ETF and Aspen.
  • Our offshore position has been increased from 30% to 60% over the past 18 months.

An absolute highlight was being independently recognised with the Fund featuring in the prestigious FINWEEK business magazine.

Our Top 10 equity holdings as at the end of December 2020 are:

We continue to view technology as the underpin to our investment strategy, whether directly in technology companies or those that are able to use technology to create a competitive edge.

You can visit our website for more detailed reporting on our performance.

We thank you again for your support and you wish that you and your loved ones are healthy and that your journey to financial freedom and building wealth for your family continues.