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Aoris International Fund’s Q3 2025 Investor Letter

Aoris Investment Management, a specialist international equity manager, released its “Aoris International Fund” Q3 2025 investor letter. Global equity markets, represented by the MSCI AC World Accumulation Index ex Australia, rose by 6.5% in AUD for the September quarter. In local currencies, gains were 8.0%, but currency fluctuations reduced the AUD return by 1.5%. In the quarter, Portfolio’s Class A (Unhedged) returned -2.6% after fees compared to a 6.5% return for the benchmark. The fund’s Class C (Hedged) declined by 1.0% compared to an 8.0% return for the benchmark. In...