September was undoubtedly rough for ASX shares.
The S&P/ASX 200 Index (ASX: XJO) was down 2.7% for the month as investors grew nervous about the lofty valuations and the prospect of rising inflation and interest rates.
But paddling in a sea of red, Cyan Investment Management portfolio manager Dean Fergie managed to make some money over September.
"Happily the Cyan C3G Fund did not follow the broader market lower, finishing September with a monthly rise of 3.4% and taking the return for the first quarter of FY22 to 6.1% (all after fees)," he said in a memo to clients.
A major contributor to this result was a tidy profit from a pair of ASX shares that the fund only recently bought into.
ASX company that's the 'Uber for deliveries'
Investors have gone nuts for the software-as-a-service provider since its 10 September ASX listing.
The stock ended September more than double its IPO price, gaining a whopping 147%.
According to Fergie, Zoom2U is "a technology-driven gig economy courier platform" that is "analogous to Uber, but for deliveries".
"Prior to listing, Z2U heralded major corporate clients such as DHL, Nespresso, and Pact Group Holdings Ltd (ASX: PGH)," he said.
"But shortly after its IPO the company announced a number of new client contracts with Bing Lee, A-Mart Furniture, and Telstra Corporation Ltd (ASX: TLS)."
The fund manager thought there were 3 reasons for the bullishness of Zoom2U shares.
"The market was no doubt beginning to appreciate the material tailwinds the business is enjoying due to the extended lockdowns in VIC and NSW, competitor StarTrack's industrial action, and the mounting pressures on the Australia Post system," he said.
"[This] is driving a huge increase in parcel volumes and is likely to result in a significant increase in Zoom2U's FY22 revenues."
A rejuvenated small cap?
Shareholders of little-known market research data provider Pureprofile Ltd (ASX: PPL) have had a torrid time since listing 6 years ago.
As of Tuesday afternoon, the stock had lost more than 81% of its value since its July 2015 debut.
But Pureprofile shares completely woke up in September, kicking up 106%.
Fergie bought the stock in July.
"The company had been completely out of favour since it listed," said Fergie.
"But a recent change in management, reduction in debt, a partnership with Flybuys and a return to profitability, along with some targeted investor marketing, has seen the market embrace the stock."