Northstar Global Flexible Strategy: Q3 2024 Commentary

The Fund's objective is to outperform the USD flexible offshore sector and large cap global equity managers through the cycle at lower levels of risk. The Northstar Global Flexible Fund produced a strong quarter, gaining 7.82% in dollars versus the EAA Fund USD Flexible Allocation Sector, its peer group, which returned 3.98% in dollars. The Northstar BCI Global Flexible Fund (the SA based version of the fund above) returned 1.98% in Q3 (in ZAR) against the ASISA Global Flexible Sector which did -0.57% (in ZAR). Continuing with the long-track record of this strategy inside Northstar Asset Management, its success is attributable to stock selection but for the quarter, the rotation out of momentum and growth styles and into defensive value, played squarely into the sweet spot for the fund.