| Report Date | 15 May 2011 |
| Manager | Herschel Asset Management |
| Fund Name | Herschel Absolute Return Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | April 2011 |
| Latest Return | 0.37% |
| Latest 6 Months | 16.75% |
| Latest 12 Months | 15.50% |
| Latest 24 Months | 41.07% |
| Annualised Since Inception | 17.14% |
| Inception Date | 01 May 2006 |
| FUM (millions) | AU$20 |
| 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's Australian Absolute Return Fund returned +0.37% in April to take 12 month performance to +15.50% and annualised since inception to 17.14%. Best performances came from a long position in Mesoblast, and a short position in Leighton.
Net equity market exposure including derivatives was progressively reduced through the course of the month to 36.2% (65.8% long and 29.6% short). |
| More Information | » View detailed profile of this fund |
