NEWS
Pengana Global Small Companies Fund
26 Aug 2016 - Australian Fund Monitors
Pengana Global Small Companies Fund returned 2.80% in July 2016, compared to a 3.3% return for the MSCI AC World SMID Cap Index.
Read more...
26 Aug 2016 - Pengana Global Small Companies Fund
By: Australian Fund Monitors
| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund is managed by Founder & CIO Leah Zell, and Portfolio Managers Jon Moog and David Li. The Lizard investment team have over 50 years combined investment experience in global small cap investing. Leah Zell has over 30 years of experience and is a recognized expert in international investing in the international small-cap category. The Fund's investment team uses a value-oriented investment approach to small and mid-cap global equities that seeks to identify and invest in quality businesses that create significant value but are mispriced, overlooked or out-of-favour. The investment manager believes that unique opportunities exist due to limited available research, corporate actions or unfavourable investor perception. The portfolio construction process aims to develop portfolios that incorporate the best investment ideas from the investment manager's research while allowing for liquidity constraints and perceived risk. The Fund's investment manager will not typically hedge currency exposures, however during periods of currency extremes, some currency hedging may be employed. Derivatives may be used to achieve long or short exposures, reduce risk and reduce transaction costs. Derivatives will not be used for the purposes of leverage and the Fund's net exposure will never be short. |
| Manager Comments | NetScout Systems, Boohoo.com, Ubiquiti Networks, CarMax, and Tegma were the top positive contributors for the month. However, Daikokutenbussan, Meiko Network Japan, Cogeco, Spirit Airlines and Fargron detracted from the performance. The portfolio added one new position; Hostelworld and completed a sale of another position. At month-end, the Fund's top 10 holdings accounted for 35.9% of the Fund's assets, with no single name representing more than 5% of the Fund. Cash represented 6.4% of the Fund. Click below to read the latest Fund Manager's report. |
| More Information |
Jamieson Coote Bonds Active Fund
26 Aug 2016 - Australian Fund Monitors
Jamieson Coote Bonds Active Fund returned a positive 0.57% for the month of July 2016.
Read more...
26 Aug 2016 - Jamieson Coote Bonds Active Fund
By: Australian Fund Monitors
| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | JCBAF seeks to establish a mid to long term core portfolio using both domestic and global macroeconomic analysis. This is overlaid with a number of valuation indicators and international market intelligence from a global network of market moving investors, including central bankers and hedge funds, to construct an optimal indexed portfolio allocation at any given time. The Fund recognises short term oscillations driven by technical factors and supply dynamics create opportunities within short term pricing cycles, which can generate significant alpha when managed within a risk adjusted framework. The Fund aims to outperform its index using duration and curve management at appropriate times in the pricing cycle whilst retaining a core long. The JCB Active Fund gives direct access to the management team whilst providing portfolio balance with increased capital stability and a fixed income streams with both income and principle repayment secured by the Australian or State Governments. |
| Manager Comments | Click below to read the Fund Manager's market outlook. |
| More Information |
Pengana PanAgora Absolute Return Global Equities Fund
25 Aug 2016 - Australian Fund Monitors
Pengana PanAgora Absolute Return Global Equities Fund rose 1.08% in July. The Fund has a low systematic risk (beta) to the ASX200 and the MSCI World Indices of 0.08 and 0.09 respectively.
Read more...
25 Aug 2016 - Pengana PanAgora Absolute Return Global Equities Fund
By: Australian Fund Monitors
| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | PanAgora believes the best way to find opportunities in the global markets is to combine fundamental analysis with robust quantitative techniques in order to filter the investment universe and select the investments. The Fund invests primarily in listed equity securities from a global universe of developed markets and a select group of emerging market countries. The Fund's objective is to seek absolute returns by identifying and exploiting multiple inefficiencies that may exist in global equity markets. These inefficiencies are primarily exploited through the use of a long/short equity strategy which aims to construct a portfolio that is generally neutral to market movements. As such the performance of the investment strategy is largely independent of the market's performance. The Fund seeks to achieve its objective by using a diversified set of strategies that have low correlation to one another. In addition, because many of these strategies are designed to generate profit under different market conditions, their combination is expected to result in more stable returns over time than any individual strategy in and of itself. |
| Manager Comments | The Long-Term portfolio contributed 1.18% (net) to the performance of the fund. The portfolio was also helped by the poor performance of heavily shorted names. The Industry, Earnings Growth and Sentiment factors also contributed positively to returns. The Long-Term alpha fared less well outside of the US causing the International Portfolio to detract -0.21% (gross). Marginal gains resulting from international M&A trades were counterbalanced by a few minor losses in the US M&A Strategy. The Short-term portfolio detracted -0.08% (net) in July. Click below to read the latest Fund Manager's Report. |
| More Information |
King Tide NZ/Australian Long/Short Equity Fund
25 Aug 2016 - Australian Fund Monitors
King Tide NZ/Australian Long/Short Equity Fund returned +4.29% in July to take latest 12-months return to 11.29%.
Read more...
25 Aug 2016 - King Tide NZ/Australian Long/Short Equity Fund
By: Australian Fund Monitors
| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund seeks to outperform the market with less volatility than the market by allocating capital to a select group of eight to sixteen funds whose investment mandates allow them to use short selling of equities and equity indices, to use derivatives to manage risk, to use leverage and to hold large amounts of cash. In-depth proprietary research is used to select and monitor fund managers with particular emphasis on their ability to manage equity market risk through stock selection, short selling and the use of derivatives and cash. |
| Manager Comments | For the month, all of King Tide's underlying managers had positive returns, ranging from +1.39% for the Tasman Market Neutral Fund to +12.09% for the Regal Atlantic Absolute Return Fund. The three New Zealand funds averaged +3.89% compared to an average return of +5.06% for the thirteen Australian funds. King Tide had an average net market exposure of 54% in July. Moving into August, most of the underlying managers will focus on the Australian reporting season. Click below to read the latest monthly report. |
| More Information |
Touchstone Index Unaware Fund
24 Aug 2016 - Australian Fund Monitors
Touchstone Index Unaware Fund returned +5.82% in July. Since inception in April 2016, the Fund has returned +7.4%, net of fees and expenses.
Read more...
24 Aug 2016 - Touchstone Index Unaware Fund
By: Australian Fund Monitors
| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The portfolio is constructed using Touchstone's Quality-At-a-Reasonable-Price ('QARP') investment process. QARP is a fundamental bottom-up process, however, it also incorporates a top-down risk management framework designed to successfully manage the portfolio during varying market conditions and economic cycles. The Touchstone Fund is concentrated, typically holding between 15-20 stocks. No individual stock will ever make up more than 10% of the portfolio at any one time. The Investment Manager may temporarily exceed the exposure limits of the Fund occasionally, particularly during periods of market volatility, to allow for holdings in excess of this 10% limit where the increase in value of the underlying security is due to market movement. The Fund may also hold between 0-50% of the portfolio in cash. The Fund has a high level of associated risk, therefore, the minimum suggested investment time-frame is 5 years. |
| Manager Comments | The Fund's stock selection was a positive contributor to returns. It had large holdings in the insurance companies AMP (+12.6%) and IAG (+10.8%) that produced strong returns. Also within the Financials, the large underweighting in CBA added value over the month. In addition, position in Star Entertainment (+9.6%) also outperformed. However, the significant holding in cash was the biggest detractor. The investment team believes that the Fund is well-positioned in light of extended financial asset valuations in general and given the heightened geopolitical and economic uncertainty going forward. Click below to read in more detail. |
| More Information |
Fund Review: Bennelong Twenty20 Australian Equities Fund July 2016
24 Aug 2016 - Australian Fund Monitors
Latest Fund Review on Bennelong Twenty20 Australian Equities Fund is now available.
Read more...
24 Aug 2016 - Fund Review: Bennelong Twenty20 Australian Equities Fund July 2016
By: Australian Fund Monitors
AFM Fund Review - July 2016 (pdf format)
BENNELONG TWENTY20 AUSTRALIAN EQUITIES FUND
Attached is our most recently updated Fund Review on the Bennelong Twenty20 Australian Equities Fund.
- The Bennelong Twenty20 Fund invests in ASX listed stocks, combining an indexed position in the Top 20 stocks with an actively managed portfolio of stocks outside the Top 20. Construction of the ex-top 20 portfolio is fundamental, bottom-up, core investment style, biased to quality stocks, with a structured risk management approach.
- Mark East, the Fund's Chief Investment Officer, and Keith Kwang, Director of Quantitative Research have over 50 years combined market experience. Bennelong Funds Management (BFM) provides the investment manager, Bennelong Australian Equity Partners (BAEP) with infrastructure, operational, compliance and distribution services.
For further details on the Fund, please do not hesitate to contact us.
AFM Fund Review - July 2016 (pdf format)
NWQ Fiduciary Fund
23 Aug 2016 - Australian Fund Monitors
NWQ Fiduciary Fund returned 1.88% in July and returned +6.54% over the last 12 months.
Read more...
23 Aug 2016 - NWQ Fiduciary Fund
By: Australian Fund Monitors
| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | The Fund aims to produce returns, after management fees and expenses of between 8% to 11% p.a. over rolling five-year periods. Furthermore, the Fund aims to achieve these returns with volatility that is a fraction of the Australian equity market, in order to smooth returns for investors. |
| Manager Comments | The portfolio's Beta managers, utilising a range of long/short equity strategies attributed +1.02% for the month, capturing a significant market upside. Alpha managers also performed strongly, contributing +0.95% for the month. The portfolio continues to have an overweight allocation to the Alpha or market neutral strategies. Click below to read the latest Fund's Report. |
| More Information |
Fund Review Pengana Absolute Return Asia Pacific Fund July 2016
23 Aug 2016 - Australian Fund Monitors
Latest Fund Review is now available on Pengana Absolute Return Asia Pacific Fund, which has over 7 years of positive track record and annualised return of 8.70% p.a.
Read more...
23 Aug 2016 - Fund Review Pengana Absolute Return Asia Pacific Fund July 2016
By: Australian Fund Monitors
AFM Fund Review - July 2016 (pdf format)
PENGANA ABSOLUTE RETURN ASIA PACIFIC FUND
Attached is our most recently updated Fund Review on the Pengana Absolute Return Asia Pacific Fund.
- The Pengana Absolute Return Asia Pacific Fund ("PARAP") was established in 2008 by portfolio managers Antonio Meroni and Vikas Kumra. The Fund is a feeder fund into a Cayman Islands AUD share class fund.
- The Fund invests both long and short in Asia Pacific equities, including in Australian and New Zealand, after a stock specific "event" has either occurred or been announced and the portfolio aims to be uncorrelated to the underlying equity markets. A combination of the Manager's experience, thorough research and continuous back- testing identify the most attractive of these events.
- Risk controls include limits on individual positions as well as gross and net exposure. Limits are in place for option exposure and cash borrowing, with stop loss limits on individual positions. Overall the manager is looking to derive returns from the event strategies as opposed to any currency or market exposures.
- Since inception, the Fund has an annualised return of 8.70% p.a., compared to the AFM's Asia Pacific Index of 5.16%. The Fund has achieved this with lower volatility of 6.37% (Index 11.94%).
For further details on the Fund, please do not hesitate to contact us.
AFM Fund Review - July 2016 (pdf format)
Fund Review: QATO Capital Market Neutral Long/Short Fund July 2016
22 Aug 2016 - Australian Fund Monitors
Latest Fund Review is now available on QATO Capital Market Neutral Long/Short Fund, investing exclusively in S&P/ASX 100 stocks.
Read more...
22 Aug 2016 - Fund Review: QATO Capital Market Neutral Long/Short Fund July 2016
By: Australian Fund Monitors
AFM Fund Review - July 2016 (pdf format)
QATO Capital Market Neutral Long/Short Fund
Attached is our most recently updated Fund Review on the QATO Capital Market Neutral Long/Short Fund.
We would like to highlight the following aspects of the Fund;
- Qato Capital is a Melbourne-based boutique fund manager backed by single family office, Larkfield Funds Management.
- Qato has a systematic, market-neutral strategy which invests exclusively in S&P/ASX 100 stocks.
- The QATO Capital's Q-score process captures and quantifies six broad fundamental factors, which assess multiple underlying sub-categories. Those companies with the top score (quality companies) are included in the "long" portfolio, those with the lowest score are sold short.
- The Fund seeks to preserve capital and maximises absolute returns through active and constant risk management, targeting monthly a net market exposure of 0% to hedge broader market risks through 30 S&P/ASX-100 positions (15 long & 15 short equally-weighted positions).
- Qato Capital's process is entirely systematic - stock selection and risk management are employed in a rules-based approach. The Fund employs no financial leverage/gearing to purchase securities, no derivatives, and no financial products to imitate leverage.
For further details on the Fund, please do not hesitate to contact us.
AFM Fund Review - July 2016 (pdf format)
Signature Quantitative Fund
22 Aug 2016 - Australian Fund Monitors
Signature Quantitative Fund recorded a flat return (0.003%) in July.
Read more...
22 Aug 2016 - Signature Quantitative Fund
By: Australian Fund Monitors
| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | SQF has been established to profit from anomalies surrounding event driven, behavioural & factor based structural market inefficiencies which generate significant profits and are uncorrelated & persistent over time. Specific strategies such as dividend arbitrage, index addition and deletion, tax year end, capital raisings, among other strategies are used by the Fund. The Fund's initial focus is on investing in Australian and New Zealand markets. |
| Manager Comments | Capital Raisings continued its outperformance recently as the capital markets continued to provide numerous opportunities and SQF's market exposure also contributed to performance. Alpha Capture underperformed (contribution of 2.2% to the fund's returns) during July's market rally. The Fund had a gross exposure of 277% (Long 166% and Short -116%) and net exposure of 55% Click the link below to view the latest Monthly report. |
| More Information |
