| Report Date | 15 December 2011 |
| Manager | Aurora Funds Management |
| Fund Name | Aurora Fortitude Absolute Return Fund |
| Strategy | Equity Market Neutral |
| Latest Return Date | November 2011 |
| Latest Return | 0.67% |
| Latest 6 Months | 2.31% |
| Latest 12 Months | 4.57% |
| Latest 24 Months | 8.86% |
| Annualised Since Inception | 8.86% |
| Inception Date | 15 February 2005 |
| FUM (millions) | AU$111 |
| Fund Overview | Aurora Fortitude Absolute Return Fund is a multi-strategy market neutral fund specialising in ASX listed 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 | Aurora Fortitude's positive November performance of +0.67% came against a fall of over 4% by the ASX200 as equity markets struggled in another month dominated by European woes.
The Long/Short strategy (+0.23%) provided the best returns for Aurora in November, with the Options portfolio also adding +0.19% from large stock specific moves. The Yield and M&A books also posted positive returns of +0.15% and +0.12% respectively, with Convergence the only small detractor from performance (-0.05%)) as a result of a contraction in the spread between Wesfarmers Partially Protected and the fully paid shares. |
| More Information | » View detailed profile of this fund |
