ELMRI June Q2 25 Quarterly Report

Dear Investor,

Our Q1 2025 Report for our Funds is now available to read or download. You can access the full report via the button below, with key highlights provided further down.

Quarterly Highlights

The ELMRI ANZ Conviction Fund increased by 17.5% for the quarter and 11.1% for the year. The ELMRI Global Fund increased by 20.7% for the quarter and 27.6% for the year. 

Markets rebounded sharply this quarter as easing trade tensions, resilient earnings and tech advances outweighed tariff shocks and rate uncertainty.

ANZ Fund Highlights:

Life360 was a standout performer this quarter, returning 62.4%. TechnologyOne also delivered a strong result, rising 47.6%, while Pro Medicus gained 42.7% to further boost the Fund’s returns.

Global Fund Highlights:

Key contributors this quarter included Joby Aviation which increased by 66.2%, NVIDIA which rose 38.3%, and Halma which delivered a strong gain of 25.0%. 

Conclusion

We are committed to investing in the most innovative and impactful growth companies and I am optimistic about the future potential of our investment strategies.

If you wish to discuss any aspect of this report in greater detail, please do not hesitate to reach out. I would be more than happy to arrange a meeting at your convenience. Those interested in investing with us can explore our product pages and review our fund documentation by clicking the buttons provided below.

Thank you for your ongoing interest and support.

Kind regards,

Jai Mirchandani
Founder, CIO and Portfolio Manager
ELM Responsible Investments

This note has been prepared by ELM Responsible Investments (‘ELMRI’) ABN 70 607 177 711 AFSL 520428, for Australian wholesale clients for the purposes of section 761G of the Corporations Act 2001 (Cth).

The information is not intended for general distribution or publication and must be retained in a confidential manner. Information contained herein consists of confidential proprietary information constituting the sole property of ELMRI and its investment activities; its use is restricted accordingly.

This note is for general informational purposes only and does not purport to be comprehensive or to give advice. The views expressed are the views of the writer at the time of preparation and presenting and all forecasts, assumptions, opinions, data and other information are not warranted as to accuracy or completeness and are subject to change without notice. This is not an offer document and does not constitute an offer or invitation of investment recommendation to distribute or purchase securities, shares, units or other interests to enter into an investment agreement. No person should rely on the content and/or act on the basis of any material contained in this note. Any potential investor should consider their own circumstances and seek professional advice.

ELMRI funds, its directors, employees, representatives and associates may have an interest in the named securities.

Past performance is for illustrative purposes only and is not indicative of future performance.