Iperionx Ltd

The fund managers believe that Iperionx Ltd presents a compelling investment opportunity, particularly due to its position in the recycled titanium sector. In their opinion, Iperionx is well-positioned to benefit from the onshoring of manufacturing in the United States, a trend that has been bolstered by geopolitical factors, such as tariffs on titanium imports from China and Russia. The company’s exposure to the growing demand for domestically sourced materials, along with its innovative approach to titanium recycling, has been a positive driver for the portfolio. Moreover, Iperionx stands to benefit from government funding aimed at supporting domestic manufacturing and reducing reliance on foreign titanium supplies. The fund managers highlight that the company’s growth potential is tied to these favorable macroeconomic trends, including increased tariffs on imported titanium and the broader push for onshoring. Given these factors, Iperionx has become a key contributor to the portfolio's performance. However, while the company is in a strong position, the fund managers also recognize that the broader geopolitical and economic environment remains a key driver of its future success.