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Aurora Investment Trust (ARR) has announced its annual financial results for the year ended December 31, 2023. This year’s performance was very good, navigation total return At 36.3%, it is significantly higher. standard England index The return is 7.9%. The price-to-earnings ratio was 28.5%.of portfolio Good performance was seen overall board There are no notable critics of major holdings that exceed 3%. The companies that contributed the most were Barratt Developments with 6.9% (+53% in the same year), Frasers Group with 6% (+29% in the same year) and Hotel Chocolat with 4% (after a 175% bid by Mars). premium).
CEO Gary Shannon commented on the performance:
“It is strange to see a portfolio of undervalued companies increasing their retained capital at a high rate over time. , the invisible rubber that ties them together stretches. When I wrote this article at the end of 2022, we were in exactly that situation, and in 2023, that force will ultimately increase the company’s portfolio holdings. This results in the stock’s price outperforming its intrinsic value growth. That said, the elasticity is still very stretched, with 130% upside potential in our view, and future value growth. There is a cheap market to keep adding.
“There are some new signs that the UK’s persistent and growing relative undervaluation has reached its zenith. We intend to make the most of this weakness while it lasts, but market conditions No matter what, there will always be industries and companies with short-term problems that present opportunities for ready and patient investors. We have achieved outperformance, which ultimately supports businesses that invest in a business-like manner, have good lasting economics, can be understood and monitored, and are available at attractive prices. , because it’s run by a company you can trust. Protect our capital and deploy it wisely while reporting honestly to us.”
ARR: Aurora Investment Trust’s strong rebound
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