Investor Letters

Letters through August 31, 2024

1 letter reporting on the period ending August 31, 2024, in each firm's own reckoning.

Forager Funds Management Monthly Report | August 2024 The Forager Australian Shares Fund discussed improving operating momentum at Praemium, EML and hipages after their latest results. Praemium is expected to benefit from pricing and cost discipline, EML must clarify its strategic direction, and hipages is converting higher revenue per user into free cash flow. August 2024 EML $60MHPG $81MPPS $211M