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| Fund Overview | - The Fund is managed 'opportunistically'. Investments are made throughout Australia and New Zealand across sectors that the investment team believes will add greatest value. - Typically the Fund will hold between 50 and 70 listed equities. - If deemed appropriate, the Fund may be 100% invested in cash. - To implement the Fund's Long/Short investment strategy, K2 is able to use leverage or gear the Fund. However, the net invested position of the Fund shall not exceed the Net Asset Value (NAV) of the Fund. |
| Manager Comments | On the long side the Fund increased exposure to NAB as it looks to run off its UK commercial real estate portfolio, and BHP on the basis that it is offering a fully franked trailed dividend yield that is 0.5% higher than the Australian 10 yr bond rate, and in spite of falling commodity prices on the Chinese growth outlook. Meanwhile the Fund intends to hold a minimum exposure to cash of 30%, believing that although there is real value in equities a large proportion of investors will remain on the sidelines until the European bond markets stabilise and corporate earnings plateau. |
| More Information | » View detailed profile of this fund |
