23 Sep 2010 - Performance Report: Merricks Capital Multi-Strategy Fund

By: Australian Fund Monitors

Report Date	22 September 2010
Manager	Merricks Capital
Fund Name	Merricks Capital Multi-Strategy Fund
Strategy	Multi Strategy
Latest Return Date	August 2010
Latest Return	2.78%
Latest 6 Months	1.61%
Latest 12 Months	2.44%
Latest 24 Months	3.49%
Annualised Since Inception	4.63%
Inception Date	01 January 2008
FUM (millions)	AU$35
Fund Overview	Merrick aims to generate absolute returns through a portfolio of investment strategies with low correlation, primarily in Asia. The fund uses a top down/bottom up approach to generate absolute returns through a portfolio of three lowly correlated underlying strategies: 1. Long Short Equities 2. Soft Commodities, and 3. Event Driven. The primary focus is on the industrials complex in Asia (Hong Kong, Japan and Australia) and Soft Commodities, which is also available as a standalone strategy if required.
Manager Comments	Merricks reported a delta adjusted exposure of +42.9% at month-end most of which came from the event driven book, while Soft Commodities and Long/Short Equity were both broadly neutral at -2.3% and +3.2% respectively.
More Information	» View detailed profile of this fund