NEWS
Intelligent Investor Value Fund
2 Sep 2013 - Australian Fund Monitors
Intelligent Investor Value Fund had strong July returning 10.45% (ASX 200 Acc 5.2%), it's best months since inception in October 2009.
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2 Sep 2013 - Intelligent Investor Value Fund
By: Australian Fund Monitors
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| Manager Comments | Notably over the last 12 months the Fund's up-capture ratio has been 0.85 with the down-capture ratio -0.74, while the Sharpe ratio has been 2.65 as compared to 1.64 for the ASX 200 Acc. The Manager notes that gains were wide spread across a number of stocks and that given commodity prices have fallen substantially over the past six months, they had been scouring the market for opportunities in mining and mining services companies. As expected there were a lot of companies with serious problems in this area but amongst the wreckage the Fund had found a few interesting opportunities. Unfortunately the panic was short-lived and some of the stocks the Fund had been trying to buy had already risen significantly off their lows. |
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BlackRock Multi Opportunity Fund
30 Aug 2013 - Australian Fund Monitors
The BlackRock Multi Opportunity Fund returned 0.40% for July and 7.18% for the last 12 months.
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30 Aug 2013 - BlackRock Multi Opportunity Fund
By: Australian Fund Monitors
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| Fund Overview | - Australian and International Equity Long/Short - Global Fixed Income Long/Short - Global Macro - Commodity Alpha - Alpha Transport The Fund's goal is to provide investors with a source of consistent, risk-controlled, absolute returns that are over time, expected to have low correlations with the returns of major asset classes. The Fund aims to achieve a return of 8% p.a. before fees, above the RBA Cash Rate Target over rolling 3 year periods. In order to achieve its expected return objective, the Fund will target a total expected risk of between 4-6% p.a. over the same rolling 3 year period. |
| Manager Comments | The Fund has a remarkably low risk profile and very strong risk-adjusted statistics. The annualised volatility is 1.59% vs 10.99% for the ASX 200 Accumulation Index over the last 12 months and a Sharpe Ratio of 2.50 as compared to 1.74 for the Index over the same time frame. The Fund had only one negative month over the last year with a maximum draw-down of 0.16% as compared to 6.72% for the Index. The Multi Opportunity Fund delivered positive performance in July with Fixed Income Global Alpha, Global Equity Market Neutral, and Australian Equity Market Neutral strategies performing strongly. Detractions from the Global Macro strategy partially offset the positive performance. |
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Auscap Long Short Australian Equities Fund
29 Aug 2013 - Australian Fund Monitors
The Auscap Long Short Australian Equities Fund had strong July returning 4.70% bringing it's six months performance to 22.75%.
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29 Aug 2013 - Auscap Long Short Australian Equities Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund focuses on fundamental long and short investments. The Fund may utilise a multi-strategy approach if short term opportunities to increase returns, hedge the portfolio, protect capital or minimise volatility are found. The Fund is a high conviction fund and the combined portfolio will typically have 25-45 positions, investing primarily in stocks in the ASX200. The Fund may be net long, short or neutral depending on the strategies employed at the time. The Fund may hold cash so that it is in a position to take advantage of market volatility and compelling investment opportunities as and when they arise. The Fund may be geared up to 200% gross long or short and up to 150% net long or short. |
| Manager Comments | In terms of fund characteristics the average gross capital employed by the Fund was 107.1% long and 54.0% short. Average net exposure over the month was +53.1%. At the end of the month the Fund had 22 long positions and 11 short positions. The Fund's largest exposures were spread across the consumer discretionary, telecommunications, healthcare and industrials sectors. |
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Fund Review: Insync Global Titans Fund
28 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for Insync Global Titans Fund, showing KPI's for July 2013 vs ASX200, Performance (net of fees) and Cumulative Performance since inception.
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28 Aug 2013 - Fund Review: Insync Global Titans Fund
By: Australian Fund Monitors
Fund Review: Insync Global Titans Fund (pdf format)
INSYNC GLOBAL TITANS FUND
Attached is our most recently updated Fund Review on the Insync Global Titans Fund.
We would like to highlight the following aspects of the Fund:
- The Global Titans Fund invests in a concentrated portfolio of 15-25 stocks, targeting exceptional, large cap global companies with a strong focus on dividend growth and downside protection.
- Portfolio selection is driven by a core strategy of investing in companies with sustainable growth in dividends, high returns on capital, positive free cash flows and strong balance sheets.
- Emphasis on limiting downside risk through extensive company research, the ability to hold cash and long protective index put options.
- Strong track record of above MSCI ($A) benchmark performance with limited drawdowns and excellent risk statistics.The Sharpe and Sortino ratio are well above those of the ASX with downside deviation approximately one-half of the same Index since inception. The Fund has a record of 63% positive months and a downside capture ratio of -0.42 over the same time frame.
Research and Database Manager
Australian Fund Monitors
Fund Review: Insync Global Titans Fund (pdf format)
Fund Review: Blackrock Australian Equity Market Neutral Fund
27 Aug 2013 - Australian Fund Monitors
July Fund Review for BlackRock Australian Equity Market Neutral Fund now available. The fund's portfolio generally consists of approx 180 stocks in equally weighted long and short positions.
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27 Aug 2013 - Fund Review: Blackrock Australian Equity Market Neutral Fund
By: Australian Fund Monitors
Fund Review:Blackrock Equity Market Neutral Fund (pdf format)
BLACKROCK AUSTRALIAN EQUITY MARKET NEUTRAL FUND
Attached is our most recently updated Fund Review on the BlackRock Australian Equity Market Neutral Fund.
We would like to highlight the following aspects of the Fund:
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BlackRock is the world's largest fund management group. Since being established in 1988 it has grown organically and by acquisition to manage US$3.93 trillion as of March 2013.
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Operations cover 27 countries including Australia (where BlackRock has A$48.6 billion in FUM - March 2013) managing a broad range of strategies across a variety of asset classes.
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The BlackRock Australian Equity Market Neutral Fund is managed by a 12 person Sydney based investment team following a systematic global research process investing in ASX listed stocks.
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The Fund's portfolio generally consists of approx. 180 stocks in equally weighted long and short portfolios to maximise potential returns while minimising market volatility.
Research and Database Manager
Australian Fund Monitors
Fund Review:Blackrock Equity Market Neutral Fund (pdf format)
Pengana Asia Special Events (Onshore) Fund
26 Aug 2013 - Australian Fund Monitors
The Pengana Asia Special Events (Onshore) Fund returned over 1.09% for July 2013 and 11.35% for the previous 12 months.
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26 Aug 2013 - Pengana Asia Special Events (Onshore) Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund seeks to profit from trading securities which are primarily subject to corporate events or from trading-related securities which the Investment Manager believes are mispriced by the market. The Fund invests in securities that are listed on Asian stock markets and other markets where related securities may be listed and in securities which are listed on markets outside of Asia where more than 70% (by assets or earnings) of the underlying business originates from an Asian country. The Fund aims to generate consistently positive returns which have a low correlation to the Asian stock markets. The objective is to generate 10-20% pa with a standard deviation of 6-10% |
| Manager Comments | The Fund finished +1.1% for the month of July 2013, compared to the FTSE Asia Pacific Index which closed +1.4%. Capital Management trades contributed over half of the Fund's absolute performance during July. In terms of countries, positions in Japan and Hong Kong / China proved the most fruitful, while Australian positions detracted slightly. The Fund maintained average net and gross exposure of 11% and 179% respectively. |
| More Information | » View detailed profile of this fund |
Fund Review: Aurora Fortitude Absolute Return Fund
26 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for Aurora Fortitude Absolute Return Fund, showing KPI's for July 2013 vs ASX200, Performance (net of fees) and Cumulative Performance since inception.
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26 Aug 2013 - Fund Review: Aurora Fortitude Absolute Return Fund
By: Australian Fund Monitors
Aurora Fortitude Absolute Return Fund (pdf format)
AURORA FORTITUDE ABSOLUTE RETURN FUND
Attached is our most recently updated Fund Review on the Aurora Fortitude Absolute Return Fund.
We would like to highlight the following aspects of the Fund;
- ASX listed Aurora Funds Limited established on the merger of three existing fund management businesses, managing approx. $480m on behalf of more than 2,500 retail and wholesale investors.
- The Aurora Fortitude Absolute Return Fund (AFARF) has a 8 year track record investing in ASX listed equities. CIO John Corr has over 20 years financial market experience with a strong focus on risk.
- A Market Neutral overlay is used across a multi strategy approach which allows for flexible asset allocation to maximise returns and minimise risk under a variety of market conditions and cycles.
- Strong use of low risk "long" derivatives and option overlays has provided positive returns with low volatility during periods of market dislocation.
- Over 87% of monthly performances have been positive, with no losing months in 2008 and a largest drawdown of -2.09%.
Research and Database Manager
Australian Fund Monitors
Aurora Fortitude Absolute Return Fund (pdf format)
Fund Review: Optimal Australia Absolute Trust
22 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for the Optimal Australia Absolute Trust, showing KPI's for July 2013 vs ASX200 Acc, Performance (net of fees) and Cumulative Performance since inception.
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22 Aug 2013 - Fund Review: Optimal Australia Absolute Trust
By: Australian Fund Monitors
Fund Review: Optimal Australia Absolute Trust (pdf format)
OPTIMAL AUSTRALIA ABSOLUTE FUND
Attached is our most recently updated Fund Review on the Optimal Australia Absolute Fund.
We would like to highlight the following aspects of the Fund:
- Optimal Australia is a specialist Australian equity investment manager established in 2008.
- The Fund's long/short equity strategy portfolio typically has a low but variable net market exposure comprising 40 to 65 stock broadly selected from within the ASX200.
- The investment team comprising George Colman, Peter Whiting and Stephen Nicholls have close to 90 years combined experience in equity markets.
- Consistent out-performance of the market: Approximately 84 % of monthly performances have been positive with a largest drawdown of -1.38%.
Research and Database Manager
Australian Fund Monitors
Fund Review: Optimal Australia Absolute Trust (pdf format)
Fund Review: Bennelong Long Short Equity Fund
21 Aug 2013 - Australian Fund Monitors
AFM's updated Fund Review for Bennelong Long Short Equity Fund, showing KPI's for July 2013 vs ASX200, Performance (net of fees) and Cumulative Performance since inception.
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21 Aug 2013 - Fund Review: Bennelong Long Short Equity Fund
By: Australian Fund Monitors
Bennelong Long Short Equity Fund (pdf format)
BENNELONG LONG SHORT EQUITY FUND
Attached is our most recently updated Fund Review on the Bennelong Long Short Equity Fund.
We would like to highlight the following aspects of the Fund:
- Research driven, market and sector neutral, "pairs" trading strategy investing primarily in large cap stocks from the ASX/S&P100 Index, with a ten year track record and annualised net returns of over 20% .
- Portfolio Manager Richard Fish has over 25 years market experience, while Bennelong Funds Management, who have over $4.5 billion in FUM across various funds, provide infrastructure, operational and compliance functions.
- The Fund's Investment history commenced in January 2002 and has positive annual returns each year, including an 11.95% return in 2008 and 20.6% in 2011, both of which were negative years for the ASX200.
- Consistent returns across the investment history indicates the Fund's ability to provide positive returns in volatile and negative markets and significantly outperform the broader market.
Research and Database Manager
Australian Fund Monitors
Bennelong Long Short Equity Fund (pdf format)
Insync Global Titans Fund
20 Aug 2013 - Australian Fund Monitors
The Insync Global Titans Fund returned 3.87% during July and 23.60% over the last 12 months.
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20 Aug 2013 - Insync Global Titans Fund
By: Australian Fund Monitors
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| Manager Comments | The Fund's unit price increased by 3.9% in July, with the largest positive contributions coming from our holdings in Wyndham, BNY Mellon, BAT and General Mills. Coach was the sole detractor for the month as it continues to face temporary competitive pressures in its North American business. The Fund benefitted from further depreciation of the Australian dollar in July, having no foreign exchange hedging in place. Global financial markets recovered some of their composure in July following reassuring comments from the US Federal Reserve emphasising that any decision to taper is conditional on further economic recovery, specifically continued improvement in the US labour market. The Q2 corporate earnings season has so far been coming in ahead of low expectations. |
| More Information | » View detailed profile of this fund |
