| Report Date | 28 February 2012 |
| Manager | Mathews Capital Partners |
| Fund Name | Mathews Velocity Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | January 2012 |
| Latest Return | 7.27% |
| Latest 6 Months | -14.14% |
| Latest 12 Months | -13.92% |
| Latest 24 Months | 27.46% |
| Annualised Since Inception | 32.66% |
| Inception Date | 01 July 2006 |
| FUM (millions) | AU$89 |
| Fund Overview | The Fund is a general long/short equity fund principally investing in listed securities in Australia and internationally. The Fund may also invest in unlisted securities which are expected to list within six months of purchase. The Fund is not a market neutral fund and accordingly may switch between net long positions and net short positions. The Fund has the provision for short sales and the use of derivatives as determined by the Manager.
The Manager does not target a specific investment style. The Manager's investment strategy is based on attempting to pick emerging trends in the equity and commodity markets. |
| Manager Comments | The Mathews Velocity Fund returned 7.27% in January 2012 aided by the general tailwind provided by the market with performance boosted by the high beta of many of the Fund's larger long positions. The January resurgence follows a period of negative returns in 2011 (-19.17%) the first in the Fund's history.
Hedging positions although reduced in January mitigated performance, with top 4 detractors SPI, Merrill Lynch Mining Basket, Euro Stoxx50 & S&P500 Futures.
The high relative volatility reflects the Fund's concentration - a key part of the investment strategy. At the end of January the Top 5 equity positions accounted for 43% of Net Assets and the Top 10 for 67%. |
| More Information | » View detailed profile of this fund |
