Performance Report: Optimal Australia Absolute Trust

17 Nov 2010 - Australian Fund Monitors

Optimal believe there is good reason to remain cautious on the outlook for the domestic economy

17 Nov 2010 - Performance Report: Optimal Australia Absolute Trust

By: Australian Fund Monitors

Report Date	16 November 2010
Manager	Optimal Fund Management
Fund Name	Optimal Australia Absolute Trust
Strategy	Equity Long/Short
Latest Return Date	October 2010
Latest Return	2.23%
Latest 6 Months	7.76%
Latest 12 Months	11.79%
Latest 24 Months	42.28%
Annualised Since Inception	18.36%
Inception Date	15 September 2008
FUM (millions)	AU$52
Fund Overview	The investment objective of the Fund is to seek to achieve above average returns in absolute terms, through investing in listed securities in Australia and New Zealand, subject to the overarching requirement of capital preservation. Investments will predominantly be in equity securities but may include fixed interest instruments, money market instruments, derivatives and foreign exchange contracts. The Fund's bias is likely to be net long under normal market conditions, with the core strategy being to construct a portfolio of listed equity securities priced at levels that do not adequately reflect their underlying value. The Fund will seek to boost returns and limit potential market downside by selective short selling of individual stocks which are priced at levels that are viewed as materially above their underlying value. The Fund will also use certain trading strategies both within its core portfolio (through rebalancing stock weights and overall market exposure in response to price movements) and in certain other situations (typically of a shorter-duration and/or opportunistic nature) with the objective of further increasing returns.
Manager Comments	Optimal believe there is good reason to remain cautious on the outlook for the domestic economy in spite of the ASX finishing up 1.7% for the month, a result which in their view masked a great deal of local and global macroeconomic volatility. Optimal's view is that a sell-off in the commodities sector could well emerge if the Fed’s QE2 package is deemed fiscally ‘responsible’ by the standards of hot-money expectations. Meanwhile elements of ‘miracle economy’ in Australia look fragile as evidenced by the divergence between October's equity returns from Resources (+5.1%) and Industrials (+0.2%).
More Information	» View detailed profile of this fund

Performance Report: Herschel Absolute Return Fund

16 Nov 2010 - Australian Fund Monitors

Herschel\\'s absolute return fund benefits from firming commodity prices, an appreciating Australian dollar and strong Asian markets

Performance Report: Fortitude Capital Absolute Return Trust

12 Nov 2010 - Australian Fund Monitors

Fortitude's yield and convergence strategies perform as markets rallied on QE2 expectations and US dollar weakness

Performance Report: Lanterne Arran Fund

11 Nov 2010 - Australian Fund Monitors

Lanterne cautious short term, but remains positive long term based on the local economy and that of Australia's key Asian trading partners.

Performance Report: Bennelong Securities Long Short Equity Fund

10 Nov 2010 - Australian Fund Monitors

Bennelong's overall portfolio performance was solid in October, although hampered by two proposed corporate transactions in the financial sector.

Performance Report: CSL Active Long Only Programme

9 Nov 2010 - Australian Fund Monitors

Commodity Strategies Long Only October Returns driven by gains in Metals, Agriculturals and Grains, with energies providing mixed results.

Performance Report: Arnott Opportunities Fund

8 Nov 2010 - Australian Fund Monitors

Arnott continues to perform as assets stabilise and risk increases back to traditional levels

Performance Report: Regal Amazon Market Neutral Fund

5 Nov 2010 - Australian Fund Monitors

Regal\\'s Amazon Market Neutral fund continues to outperform, with both long and short positions adding to positive performance.

5 Nov 2010 - Performance Report: Regal Amazon Market Neutral Fund

By: Australian Fund Monitors

Report Date	03 November 2010
Manager	Regal Funds Management
Fund Name	Regal Amazon Market Neutral Fund
Strategy	Equity Market Neutral
Latest Return Date	October 2010
Latest Return	4.58%
Latest 6 Months	11.78%
Latest 12 Months	15.23%
Latest 24 Months	59.30%
Annualised Since Inception	23.44%
Inception Date	17 June 2005
FUM (millions)	US$156
Fund Overview	The Amazon Market Neutral Fund aims to generate positive returns, with low levels of risk. The Fund attempts to be uncorrelated with equity market and targets volatility of less than 15%. Risk limits (stock, sector, liquidity, etc) are maintained to help achieve this volatility target. Though its investments are global, Regal aims to have over half of its investments in the Asian region, with a heavy emphasis on Australia. Investments are concentrated in sectors where the investment manager believes he has an advantage (through superior research and/or analysis). Research and analysis are conducted from a fundamental basis. Investments are viewed from both a bottom-up and top-down perspective. Catalysts are identified where possible. Most hedging is done through single stocks. The Fund has the flexibility to invest (both long and short) in a wide range of investment instruments including, but not limited to, all types of equity, debit and hybrid securities, foreign exchange, options, warrants, futures and derivatives.
Manager Comments	Regal's Amazon Market Neutral fund continues to outperform, with both long and short positions adding to positive performance. The largest winner for the month was a short position in Blue Scope Steel, down 9% for the month, which Regal believe could downgrade profits at the AGM on 11 November. Other positive performances included a long standing position in Citadel, which rallied following a takeover offer, although Regal believe the proposal still undervalues the company, and retains the position. In the financial sector Challenger rose 9% for the month, while a short position in Perpetual lost money following a bid from KKR. The Asian positions made a very good return on the small amount of capital invested.
More Information	» View detailed profile of this fund

Performance Report: K2 Australian Absolute Return Fund

4 Nov 2010 - Australian Fund Monitors

K2\\'s Australian Fund notes October\\'s market driven by an acceleration of large scale corporate M&A announcements, continued strength in commodity prices and QE2 expectations

Performance Report: Taurus Precious Metals Strategy

2 Nov 2010 - Australian Fund Monitors

Taurus Precious Metals produces a positive September in line with the gold price as commodities in general enjoy another solid month

2 Nov 2010 - Performance Report: Taurus Precious Metals Strategy

By: Australian Fund Monitors

Report Date	01 November 2010
Manager	Taurus Funds Management Pty Ltd
Fund Name	Taurus Precious Metals Strategy
Strategy	Equity Long
Latest Return Date	September 2010
Latest Return	5.80%
Latest 6 Months	16.17%
Latest 12 Months	27.96%
Latest 24 Months
Annualised Since Inception	35.45%
Inception Date	01 February 2009
FUM (millions)	US$140
Fund Overview	The Fund invests in gold, silver, platinum and palladium physical commodity instruments (a minimum of 75%) as well as the underlying gold and precious equities (a maximum of 25%) to deliver an investment which provides gold's defensive properties but also tactically shifts to other precious metal commodities and equities to enhance returns. Excess returns are generated by utilizing a relative value strategy and correctly switching the portfolio between the various physical commodities (gold, silver, platinum, palladium) and also between commodities and equities. The strategy's primary goal is to provide investors with returns ahead of Gold Bullion, essentially an enhanced gold exposure. The fund aims to provide investors with a low cost, appropriately bench marked alternative / substitute to physical gold. The investment process combines fundamental and quantitative research to isolate attractive commodities, sub-sectors and stocks.
Manager Comments	Taurus Precious Metals had a positive month rising 5.8% (USD) in line with the gold price. At month end, the Strategy’s exposure to physical gold was 79%. Equities (predominantly mid cap gold equities) were higher at around 11.4%. The Manager also introduced physical silver into the portfolio during the month. Cash was maintained at approximately 1.4%, more or less in line with September. Amongst the precious metals, palladium again outpaced all comers increasing 12.7% closely followed by silver (+12.4%) with precious metals up in a range of 15-42% YTD, with bullion coming in at +25.6%. YTD global equities are up 4.6%. Taurus noted that the Bulls are again back in charge, with pretty much everything in the Resources and Commodity area appreciating strongly during the month.
More Information	» View detailed profile of this fund

Search for:
Fund:	Type a few letters to search
Manager:
Publish Dates:	From: To:

Fund Monitors Pty Ltd

News

NEWS

17 Nov 2010 - Performance Report: Optimal Australia Absolute Trust

16 Nov 2010 - Performance Report: Herschel Absolute Return Fund

12 Nov 2010 - Performance Report: Fortitude Capital Absolute Return Trust

11 Nov 2010 - Performance Report: Lanterne Arran Fund

10 Nov 2010 - Performance Report: Bennelong Securities Long Short Equity Fund

9 Nov 2010 - Performance Report: CSL Active Long Only Programme

8 Nov 2010 - Performance Report: Arnott Opportunities Fund

5 Nov 2010 - Performance Report: Regal Amazon Market Neutral Fund

4 Nov 2010 - Performance Report: K2 Australian Absolute Return Fund

2 Nov 2010 - Performance Report: Taurus Precious Metals Strategy

Category

Search

Events Calendar