Insights

Electrification remained front and centre for the Fund this month. Our largest positions — Southern Cross Electrical (SXE) and

For the month, the Fund returned +6.08%, outperforming the Small Industrials Index by 3.54%. The biggest positive contributors were

For the month, the Fund returned -8.03% vs the Small Industrials -8.44%. The biggest positive contributors in the Fund

For the month, the Fund returned -2.36% vs the Small Industrials -4.52%. The biggest positive contributors in the Fund

In the 9th year of the North Star Impact Fund, we continued to drive capital to companies that solve

In January, the market saw significant dispersion with late month volatility driven by commodity price swings and global policy

The Fund is a bottom-up stock picking strategy with rigorous fundamental analysis at the company level, focusing on well

November lived up to its reputation as one of the market’s most volatile months. Concerns that AI-related capex may

We are pleased to share our October 2025 report for the NorthStar Impact Australian Equities Fund. The portfolio returned