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20 Jan 2011 - Performance Report: Merricks Capital Multi-Strategy Fund

By: Australian Fund Monitors
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Report Date19 January 2011
ManagerMerricks Capital
Fund NameMerricks Capital Multi-Strategy Fund
StrategyMulti Strategy
Latest Return DateDecember 2010
Latest Return3.11%
Latest 6 Months16.25%
Latest 12 Months11.07%
Latest 24 Months19.24%
Annualised Since Inception7.88%
Inception Date01 January 2008
FUM (millions)AU$35
Fund OverviewMerrick aims to generate absolute returns through a combination of equity based investment strategies primarily in Australia and Asia.

The fund uses a top down/bottom up approach to generate absolute returns two underlying strategies:

1. Long Short Equities
2. Event Driven.

The primary focus is on the industrial sectors in Asia, focused on Hong Kong, Japan and Australia. Prior to December 2010 the fund also included exposure to the Soft Commodity sector. This is now available as a standalone fund and strategy.
Manager CommentsMerricks provided investors with a strong return in December to cap off a positive year, co-inciding with the Soft Commodity allocation within the multi strat fund being managed as a separate fund.

The fund's asset allocation was broadly split between the Event Driven and Long/Short books, with geographic allocation significantly favouring Australia, followed by Hong Kong and Japan. Gross exposure was 168%, comprising 109% long and 59% short.
More Information» View detailed profile of this fund

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