April 2025 Monthly Report

Dear Investor, DMXASF’s NAV increased 0.4% in what turned out to be an unusually volatile month. Markets sold off around 10% early in the month on the back of US tariff uncertainty, but came racing back by month-end. The ASX 200 Accumulation Index finished up 3.6% for...

Mar 2025 Monthly Report

Dear Investor, DMXASF’s NAV declined 4.2% in a quiet month for the portfolio, but continued volatility and increasing uncertainty being priced into equities globally. The market was down across the board, with the ASX 200 Accumulation Index down 3.4% and the ASX...

Feb 2025 Monthly Report

Dear Investor, DMXASF’s NAV declined 2.2% in what was a challenging February with both positive and negative surprises, and against a backdrop of a declining market. The ASX Emerging Companies Index fell similarly, down 2.0%, while the ASX 200 Accumulation Index...

Jan 2025 Monthly Report

Dear Investor,DMXASF’s NAV rose 1.8% in January, in a quiet but strong month for the broader market. The ASX Emerging Companies Index was up marginally, up 0.4%, while the ASX 200 Accumulation Index rose strongly, up 4.6%.CommentaryWe had some large movements in both...

Dec 2024 Monthly Report

Dear Investor,DMXASF’s NAV declined 3.0% in December, reversing some of its strong November result. The broader market was mixed with the ASX Emerging Companies Index flat at -0.1%, while the ASX 200 Accumulation Index was down 3.2%. Calendar 2024 was strong for us,...

Nov2024 Monthly Report

Dear Investor, DMXASF’s NAV rose 4.8% in November, ahead of the ASX 200 Total Return Index which rose 3.8% as well as the ASX Emerging Companies Index, which fell 0.9% for the month.CommentaryNovember was positive for the Fund, both in terms of the positive...