Ethical Investment March Q1 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 returned -17.9% for the quarter and -4.1% for the year. The ELMRI Global Fund delivered -13.7% for the quarter and increased by 5.5% over the year.
Global equity markets saw increased volatility this quarter as investors responded to ongoing uncertainty surrounding U.S. trade policy and its implications for economic growth. In response, investors continue to focus on long-term opportunities in innovative and resilient sectors.
Company Profiles
The report profiles key holdings that have driven fund performance over the quarter, despite broader market weakness and volatility.
Brookfield Asset Management remains a key position, distinguished by its ability to raise and deploy capital at scale into renewable infrastructure.
Fisher & Paykel Healthcare is gaining traction globally, with accelerating adoption of its sleep and respiratory products and a clear pathway to further penetration in underdeveloped markets.
Halma’s portfolio of safety and healthcare technologies delivers consistent growth through both market cycles and disciplined acquisitions.
Cochlear remains a global leader in hearing implants, with strong demand for its core products and a continued focus on innovation, clinical evidence, and expanding access to treatment worldwide.
RELX continues to perform well, with stable growth across its analytics, legal, and scientific segments, supported by strong demand for its data and digital tools.
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.