| Report Date | 18 May 2010 |
| Manager | Macquarie Investment Management |
| Fund Name | MQ Asia Long Short Fund (Cayman) - Class A USD |
| Strategy | Equity Long/Short |
| Latest Return Date | April 2010 |
| Latest Return | 2.36% |
| Latest 6 Months | 4.00% |
| Latest 12 Months | 21.27% |
| Latest 24 Months | 11.51% |
| Annualised Since Inception | 11.26% |
| Inception Date | 01 October 2005 |
| FUM (millions) | US$197 |
| Fund Overview | The fund employs a quantitative long/short strategy implemented in pan-Asian equity markets. The strategy is underpinned by a stock screening and quantitative company analysis process. Several quantitative stock screens are used to filter the universe to a smaller basket. They seek to exploit market anomalies due to behavioural biases of market participants and combine factors measuring value, quality, momentum and analyst sentiment. After the filtering process, stocks are assessed using a system that analyses the data underlying the quantitative factor scores. Amongst other indicators, this system allows the portfolio manager to view detailed broker forecasts and revisions, time series valuation measures and accruals data. A transparent process, the portfolio construction aims constrains the key risk factors, primarily net country, sector and size exposures. A country selection model is used to determine desired net country exposures. |
| Manager Comments | Macquarie's Asia Long Short Fund finished April up +2.36%, beating its MSCI Asia Pacific Index benchmark which only managed +0.19%.
The manager says that all of their stock screens made a positive contribution for the month. Gross return attributed to the fund's systematic component was +1.5% while non-systematic analysis contributed 1.4%.
Alpha generation in the smaller emerging markets in the fund's universe has been particularly strong so the fund is currently increasing exposure to those markets along with improving the fund's shorting ability. |
| More Information | » View detailed profile of this fund |
