| Report Date | 13 January 2011 |
| Manager | Herschel Asset Management |
| Fund Name | Herschel Absolute Return Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | December 2010 |
| Latest Return | 6.84% |
| Latest 6 Months | 14.30% |
| Latest 12 Months | 9.35% |
| Latest 24 Months | 37.19% |
| Annualised Since Inception | 16.75% |
| Inception Date | 01 May 2006 |
| FUM (millions) | AU$32 |
| Fund Overview | The Herschel Absolute Return Fund is a long-short Australian equities fund which is expected to average 50% net long through an investment cycle. The objective of the fund is to achieve consistent, double-digit rates of return, with an over-arching philosophy of capital protection. The Fund will usually invest in a portfolio, consisting of both long and short positions, of securities of 15 to 45 companies. |
| Manager Comments | Herschel's December result of +6.84% caps off their fifth consecutive positive year as resources (+6.4%) continued to outperform industrials (+2.5%) for the fourth consecutive month, and small caps (+7.1%) outperformed large caps (3.4%).
Best performing positions for the month were in Sundance Resources, Aurora Oil and Beadell Resources, while their short SPI Futures hedge detracted from the overall result. The fund increased its net equity position over the month to 56.1% (61.2% long and 5.1% short). |
| More Information | » View detailed profile of this fund |
