| Report Date | 07 March 2012 |
| Manager | Regal Funds Management |
| Fund Name | Regal Amazon Market Neutral Fund |
| Strategy | Equity Market Neutral |
| Latest Return Date | February 2012 |
| Latest Return | 0.19% |
| Latest 6 Months | -1.13% |
| Latest 12 Months | 12.50% |
| Latest 24 Months | 38.98% |
| Annualised Since Inception | 21.22% |
| Inception Date | 17 June 2005 |
| FUM (millions) | US$494 |
| Fund Overview | The Amazon Market Neutral Fund aims to generate positive returns, with low levels of risk. The Fund attempts to be uncorrelated with equity market and targets volatility of less than 15%. Risk limits (stock, sector, liquidity, etc) are maintained to help achieve this volatility target. Though its investments are global, Regal aims to have over half of its investments in the Asian region, with a heavy emphasis on Australia. Investments are concentrated in sectors where the investment manager believes he has an advantage (through superior research and/or analysis). Research and analysis are conducted from a fundamental basis. Investments are viewed from both a bottom-up and top-down perspective. Catalysts are identified where possible. Most hedging is done through single stocks. The Fund has the flexibility to invest (both long and short) in a wide range of investment instruments including, but not limited to, all types of equity, debit and hybrid securities, foreign exchange, options, warrants, futures and derivatives. |
| Manager Comments | The Amazon Market Neutral Fund was up 0.19% in February with profits on Australian positions partially offset by a small loss in the Asian portfolio.
Regal noted that the rise in the Australian market in February hid a large dispersion in individual stock returns, with 67 stocks in the ASX S&P 300 Index up by 10% or more, after investors had in many cases been overly pessimistic.
The best performing sectors sectors for the fund were Consumer Discretionary and Industrials, while positions in Energy and Health Care detracted from performance. |
| More Information | » View detailed profile of this fund |
