The Alpha Plus Fund rose 2.31% in February, underperforming the S&P/ASX200, which was up -4.11%. It was a strong turnaround for the market following a sharp decline in January with mega‑cap Financials and Materials leading the way – unfortunately areas where the portfolio carries a more measured exposure. Sentimentrebounded strongly on the back of a strong reporting season for earnings,stabilizing macro data, and supportive global market conditions. However, stockmoves were extreme as positioning and changing expectations saw unprecedentedprice movements – both up and down – throughout the month.
