LRT – Lowell Resources Fund

since listing, LRT had an unspectacular first two years ….. but since April 2020, both in price action and NTA (it is a LIT) the returns have been great. Latest NTA for 07 April was $1.70 so the shareprice has not kept up with stated AUM (it is selling at a discount).

Market cap is only about $50M. LRT is focused on generating strong absolute returns from the junior resources sector. Its experienced team of fund managers has many years of experience in this high risk, high reward sector. Lowell Resources Fund Management (LRFM) manages the portfolio of exploration and development companies operating in precious and base metals, specialty metals and the oil and gas space.

Performance Comparison In the 12 months to 31st March 2021, the Lowell Resources Fund spectacularly outperformed the benchmark, by over 170%. The S&P/ASX Small Resources Index (XSRD) return of 59.7% pa compared to the Fund’s remarkable 233.8% 12month change in underlying net asset value per unit (inclusive of distributions and after fees and expenses.

Top Ten holdings:
Lefroy Exploration (Gold) ……. 7.2%
Predictive Discovery (Gold) …. 6.8%
Musgrave Minerals (Gold) ……. 6.1%
De Grey Mining (Gold) …………..6.1%
Centaurus Metals (Nickel) ……. 5.3%
Talon Metals – TSX (Nickel) …… 5.2%
Genesis Minerals (Gold) ………. 4.6%
Cash ……………………………………. 4.3%
Caravel Minerals (Copper) ……. 4.2%
Karoon Energy (Oil & Gas) …….. 3.0%

Since inception: