Fund Objective

The investment objective of Neptune US Opportunities Fund is to generate capital growth by investing predominantly in a concentrated portfolio of Northern American securities which may include Canada as well as the US, with a view to achieving top quartile performance within the appropriate peer group.

View on Past Performance

Like the first two quarters of 2008, the third was another for the history books. Immense volatility and great uncertainty dominated, as the financial crisis reached its crescendo and some of the oldest and most respected Wall Street names bit the dust.Lehman Brothers, Merrill Lynch, AIG, Washington Mutual, Fannie Mae and Freddie Mac were amongst the biggest casualties and it was these collapses that forced the administration to resort to the taxpayer to bail out the system.

Future Expectations

The other main story of the quarter was the oil price, which has been consistently falling throughout the year. This drop showed no sign of stopping, as oil fell 30% from its peak to the end of the quarter. This will ultimately be bullish for US consumers and the US economy, although in the near term it has not supported the stockmarket.This is because most investors are concerned about the possible consequences of the financial crisis and the global slowdown. We will see how US companies are dealing with these issues in the forthcoming Q3 numbers. However, we do have the US election to look forward to on 4 November, which will most likely bring in a new party with a fresh approach.

Fund Details