Investor Letters

Letters through January 31, 2025

1 letter reporting on the period ending January 31, 2025, in each firm's own reckoning.

Forager Funds Management Monthly Report | January 2025 Praemium improved earnings through higher pricing and cost control, while stronger fund flows supported the case for a rerating against larger platform peers. Plenti grew lending, reduced net losses and expanded its technology relationship with NAB, positioning operating leverage to improve profitability as its loan book scales. January 2025 PLT $97MPPS $205M