NEWS
AFM's E5 Model Equity Portfolio returns +2.81% in December 2010
1 Feb 2011 - Australian Fund Monitors
AFM's E5 Model Equity Portfolio, which tracks the performance of 5 equally weighted funds investing in Australian equities, returned 2.81% in December to bring 12 month performance to 9.78% and an annualised performance since inception of...
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1 Feb 2011 - AFM's E5 Model Equity Portfolio returns +2.81% in December 2010
By: Australian Fund Monitors
AFM's E5 Model Equity Portfolio, which tracks the performance of 5 equally weighted funds investing in Australian equities, returned 2.81% in December to bring 12 month performance to 9.78% and an annualised performance since inception of 15.26% with volatility of just 5.69%.
December's results were positive from all underlying funds, with returns ranging from +0.77% through to +6.84% from Herschel's Absolute Return Fund, to take their annualised performance since inception in May 2006 to +16.75%.
To view the Portfolio's performance details, click here
Performance Report: Instinct Japan Opportunity Fund
31 Jan 2011 - Australian Fund Monitors
Instinct Japan Opportunity Fund returns 3.74% in December to finish 2010 up 35.21%
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31 Jan 2011 - Performance Report: Instinct Japan Opportunity Fund
By: Australian Fund Monitors
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| Fund Overview | The Fund has a forward looking approach and specialises in trading highly liquid listed Japanese companies, and is focused on short term events only. The fund's objectives are to return 3-5% per trade, with a 5-10 day holding period for each position, and a win/loss ratio per trade of 70% to provide investors with a targeted annual return of 20-25%. |
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| More Information | » View detailed profile of this fund |
Performance Report: Mathews Velocity Fund
28 Jan 2011 - Australian Fund Monitors
Mathews Velocity Fund enjoys a strong December up 8.83% to return +37.57 for 2010 as coal and mining services produce strong gains
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28 Jan 2011 - Performance Report: Mathews Velocity Fund
By: Australian Fund Monitors
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| Fund Overview | The Manager does not target a specific investment style. The Manager's investment strategy is based on attempting to pick emerging trends in the equity and commodity markets. |
| Manager Comments | The coal sector was a strong contributor with strengthening coking coal prices assisting the fund's holding in Bathurst which rose 39%, while Rey Resources gained 67%, and Gloucester Coal rose 19%. Gross exposure as at the end of the month stood at 129% (113% long and 15% short) with net exposure at 98%, with equities accounting for approximately 95% of gross with commodities via futures and options the balance. Sector allocations remain strongly skewed to the resources sector with Coal (37%), Gold (32%) and Base Metals and Energy (10%) dominating while the top 5 positions accounted for 37% of NTA and the top 10 56%. |
| More Information | » View detailed profile of this fund |
Performance Report: Kima Capital Pan Asian Fund
27 Jan 2011 - Australian Fund Monitors
Kima sees out 2010 to record a return of 11.77% for the year, while December's performance reflected end of year de-risking and profit taking.
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27 Jan 2011 - Performance Report: Kima Capital Pan Asian Fund
By: Australian Fund Monitors
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| Fund Overview | This objective is achieved via a systemised approach to trading strategies which have been tried, tested and proven in a variety of market environments within the Pan Asian equities arena. Kima is managed by Justin Klintberg. Justin brings his verifiable track record, an experienced team, new proprietary systems along with liquidity at portfolio and fund level and most importantly transparency for investors. |
| Manager Comments | Kima also reported that deal flow dried up over the course of December but they continued to hold core positions and noted that the pipeline has built quickly during January with several block trades coming to market and some interesting IPOs on the horizon. |
| More Information | » View detailed profile of this fund |
Performance Report: Pengana Global Small Companies Solution
25 Jan 2011 - Australian Fund Monitors
Pengana's Global Small Companies Solution benefits from strong returns from the global small cap sector to return 6.5% in December.
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25 Jan 2011 - Performance Report: Pengana Global Small Companies Solution
By: Australian Fund Monitors
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| Fund Overview | The Fund uses a multi manager approach, investing with regional small company investment specialists to produce a global portfolio. To maximise the returns generated the Fund uses active investment managers with portfolios that are not overly diversified (the Fund will generally have exposure to between 40 and 80 stocks in each region). |
| Manager Comments | Asset Allocation remained evenly divided between the fund's sub managers in North America, Europe and Asia, with the latter's allocation split between Japan and Ex Japan. |
| More Information | » View detailed profile of this fund |
Performance Report: Global Trading Strategies Fund (Class A)
24 Jan 2011 - Australian Fund Monitors
Global Trading Strategies ends 2010 with a strong month, but sounds a warning over Asian inflation and US and UK fiscal imbalances
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24 Jan 2011 - Performance Report: Global Trading Strategies Fund (Class A)
By: Australian Fund Monitors
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| Manager Comments | Commenting on the outlook for 2011, GTS warned about inflation in Asia and structural weaknesses in North America and the UK, while noting that trading in the Euro would perhaps provide significant opportunities in the year ahead. |
| More Information | » View detailed profile of this fund |
Performance Report: Macquarie Asian Alpha Fund (Cayman) - Class A USD
21 Jan 2011 - Australian Fund Monitors
Macquarie's Asian Alpha Fund closed 2010 with a positive December performance of +1.97%, under performing the MSCI Asia Pacific Index (+3.78%) but outperforming over the full year.
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21 Jan 2011 - Performance Report: Macquarie Asian Alpha Fund (Cayman) - Class A USD
By: Australian Fund Monitors
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| Manager Comments | Best performing country contributions for the month came from Japan and Hong Kong, while Australia detracted from returns. Otherwise, with the exception of China, the smaller emerging market portfolios generally disappointed, with the result that the fund willl hold back from increasing gross exposure in those markets until evidence emerges of sustained alpha generation. The manager noted that there had been a significant increase in AUM over the year, rising from $228m to $579m, following the significant redemptions and outflows since 2008. |
| More Information | » View detailed profile of this fund |
Performance Report: Merricks Capital Multi-Strategy Fund
20 Jan 2011 - Australian Fund Monitors
Merricks' Multi Strategy fund caps off a positive year with a strong December result.
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20 Jan 2011 - Performance Report: Merricks Capital Multi-Strategy Fund
By: Australian Fund Monitors
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| Fund Overview | The fund uses a top down/bottom up approach to generate absolute returns two underlying strategies: 1. Long Short Equities 2. Event Driven. The primary focus is on the industrial sectors in Asia, focused on Hong Kong, Japan and Australia. Prior to December 2010 the fund also included exposure to the Soft Commodity sector. This is now available as a standalone fund and strategy. |
| Manager Comments | The fund's asset allocation was broadly split between the Event Driven and Long/Short books, with geographic allocation significantly favouring Australia, followed by Hong Kong and Japan. Gross exposure was 168%, comprising 109% long and 59% short. |
| More Information | » View detailed profile of this fund |
Performance Report: Merricks Soft Commodity Fund
19 Jan 2011 - Australian Fund Monitors
The Merricks Soft Commodity Fund ends 2010 on a strong note to finish 2010 up over 16% and bring up their three year track record.
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19 Jan 2011 - Performance Report: Merricks Soft Commodity Fund
By: Australian Fund Monitors
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| Fund Overview | The objective of the Fund is to find outstanding investment opportunities in the Soft Commodities sector and to also take advantage of mispricing between commodities. All investments are based on bottom up fundamental research and the Fund limits directional exposure of its investments through a strict process of portfolio construction and risk management. Trading strategies include calendar spreads, substitute spreads and basis trades and the Merricks Capital trading platform allows the Fund to trade on all markets (including ASX, CBOT, Euronext and Malaysia). |
| Manager Comments | December gains came from positions in Wheat, Soy/Palm oil sread and Soybean oil/soybean spread, while a short position in Palm oil detracted from the month's performance. |
| More Information | » View detailed profile of this fund |
Performance Report: Fortitude Capital Absolute Return Trust
18 Jan 2011 - Australian Fund Monitors
Fortitude's M&A book the fund's strongest performer in December, followed by Long/short.
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18 Jan 2011 - Performance Report: Fortitude Capital Absolute Return Trust
By: Australian Fund Monitors
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| Manager Comments | Returns in the Long/short, small cap and convergence strategies also added to the month's performance. |
| More Information | » View detailed profile of this fund |
