ALF posts 75pc profit rise and moves out of equities
Australian Leaders Fund will post a 75 per cent rise in profits to $40.8 million for the year to June 30, as the listed hedge fund parks a chunk of its investments in cash to shield investors from a potential market crash.
Australian Leaders Fund will post a 75 per cent rise in profits to $40.8 million for the year to June 30, as the listed hedge fund parks a chunk of its investments in cash to shield investors from a potential market crash.
Justin Braitling , chairman of the ALF, said the company held about 70 per cent of its funds in cash at the end of June to protect investors as stocks become painfully expensive.
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