| Report Date | 19 December 2010 |
| Manager | Fortitude Capital |
| Fund Name | Fortitude Capital Absolute Return Trust |
| Strategy | Equity Market Neutral |
| Latest Return Date | November 2010 |
| Latest Return | 1.37% |
| Latest 6 Months | 2.32% |
| Latest 12 Months | 4.10% |
| Latest 24 Months | 9.75% |
| Annualised Since Inception | 9.61% |
| 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 benefited from the ongoing high levels of merger and acquisition activity in November, and noted that expectations are for this activity to continue in 2011, reflecting a higher than usual portfolio weighting to the M&A book. Their yield and convergence books also produced positive returns, while the option strategy, which is largely protective in nature, produced a small negative. |
| More Information | » View detailed profile of this fund |
