Good evening,

Blackout has begun - and we suspect this week fund managers will turn their attention to August reporting season, and start positioning for what they expect will be the winners and losers.

There’s an old theory among fundies that being positioned correctly going into reporting season is what makes for a good or a bad year. Get it right, and the portfolio is guaranteed to have a good next six months. Get it wrong, and there’s big trouble.

The blackout period is also likely to take some attention off deals - or at least change the sort of work involved.

In Street Talk tomorrow, we take a look at ASX-listed Huon Aquaculture, and reveal when its bids are due to land.

We also follow up on retirement communities owner Halcyon’s sale, and reveal a new target for growth private equity firms.

And we have found another Aussie fund manager joining the biotech fund-raising spree.

Happy reading,
Sarah Thompson, Anthony Macdonald and Yolanda Redrup
Street Talk Editors