| Report Date | 07 July 2010 |
| Manager | MM&E Capital Limited |
| Fund Name | MM&E Takeover Target Fund |
| Strategy | Event Driven |
| Latest Return Date | June 2010 |
| Latest Return | 0.76% |
| Latest 6 Months | -4.04% |
| Latest 12 Months | 18.51% |
| Latest 24 Months | 7.91% |
| Annualised Since Inception | 9.59% |
| Inception Date | 12 August 2005 |
| FUM (millions) | AU$5 |
| Fund Overview | Medium term (6-24 months) long only positions are taken in ASX listed stocks that meet our internal selection criteria. These criteria include having a strategic shareholder on their register; and/or being in an industry undergoing consolidation; and/or having had a previous and unsuccessful takeover bid made for them; and/or being subject to substantial legislative or regulatory change. The Fund does not take short positions. |
| Manager Comments | MM&E's Takeover Target Fund result for June of +0.8% was helped by the trimming of some positions in resource stocks as well as exposure to strong performers such as Perseus Mining, GPT and Coca-Cola Amatil. Detracting from performance were positions in FKP Property Group and Insurance Australia Group.
The manager says that the fund is defensively positioned given the market outlook, but will consider adding new positions in the upcoming reporting season. |
| More Information | » View detailed profile of this fund |
