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Printed: 20 September 2026 7:29 AM

11 Jul 2012 - Performance Report: Bennelong Long Short Equity Fund

By: Australian Fund Monitors
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Report Date10 July 2012
ManagerBennelong Group
Fund NameBennelong Long Short Equity Fund
StrategyEquity Market Neutral
Latest Return DateMay 2012
Latest Return1.19%
Latest 6 Months3.89%
Latest 12 Months8.66%
Latest 24 Months35.70%
Annualised Since Inception20.43%
Inception Date01 January 2003
FUM (millions)AU$243
Fund OverviewBennelong Long Short Equity Management applies a qualitative stock selection process to construct a diversified portfolio of paired securities based on relative value. The Bennelong Long Short Equity Management strategy invests primarily in the S&P/ASX 100 and is dollar neutral at cost.
Manager CommentsBennelong's Long Short (market neutral) Fund finished the June quarter on a strong note, returning +8.47% for the month, taking the 3 month performance to 14.39%. Over the quarter both long and short portfolios contributed, while for the month stock selection in the short book provided 80% of returns as profit warnings on various short positions battered prices and bolstered returns.

Given the market's performance over the past 12 months the Fund's return of over 13% in difficult conditions continues to place it close to the top of AFM's rankings over most time frames.

Bennelong recognises that the markets have the ability to rally over the short term given the underweight position of many investors and the potential for further central bank stimulus. However, the manager does not see conditions leading to any meaningful rally in growth assets, and sees further potential for earnings downgrades. Caution remains.

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