| Report Date | 13 September 2010 |
| Manager | Fortitude Capital |
| Fund Name | Fortitude Capital Absolute Return Trust |
| Strategy | Equity Market Neutral |
| Latest Return Date | August 2010 |
| Latest Return | 0.86% |
| Latest 6 Months | -0.64% |
| Latest 12 Months | 0.70% |
| Latest 24 Months | 12.33% |
| Annualised Since Inception | 9.17% |
| Inception Date | 15 February 2005 |
| FUM (millions) | AU$25 |
| Fund Overview | Fortitude Capital Absolute Return Trust is a multi-strategy market neutral fund specialising in listed Australian equities and derivatives. The core philosophy is the management of risk through a long volatility overlay incorporating listed equity and index derivatives. The multi-strategy approach includes M&A, Yield, Convergence and Long/Short strategies. The portfolio managers adopt an aggressive approach to managing downside risk whilst positioning the portfolio to benefit from positive alpha. |
| Manager Comments | Fortitude reported that August's mixed reporting season proved a challenging month for the Australian market, but this environment provided opportunities for the fund's derivative book, while an increase in M&A activity saw the fund complete four deals and add four new positions.
The yield book also added to the overall positive performance although the manager noted there were relatively few deals at present which suited their targeted structure.
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| More Information | » View detailed profile of this fund |
