| Report Date | 14 April 2011 |
| Manager | Herschel Asset Management |
| Fund Name | Herschel Absolute Return Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | March 2011 |
| Latest Return | 0.23% |
| Latest 6 Months | 18.87% |
| Latest 12 Months | 15.49% |
| Latest 24 Months | 46.96% |
| Annualised Since Inception | 17.37% |
| Inception Date | 01 May 2006 |
| FUM (millions) | AU$25 |
| Fund Overview | The Herschel Absolute Return Fund is a long-short Australian equities fund which is expected to average 40% 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 noted that global equity markets were surprisingly resilient in the face of a confluence of negative events and intra month volatility caused by Japan's earthquake, geopolitical unrest in the Middle east and North Africa, and rekindled fears of Eurozone debt issues.
At month end net equity exposure including derivatives was 49.3%. (64% long and 14% short). |
| More Information | » View detailed profile of this fund |
