| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | |
| Manager Comments | Major gains for the month came from finance sector holdings led by an Indian Bank basket. Other themes contributing were the basket of Japanese drugstore chains and the holdings in US home-builders. The tilt to emerging markets also contributed to performance. Losses came from a range of individual investments including online gaming, insurance and a short in US tourism e-commerce. The fund missed some of the Japanese market rally as its holdings were mainly in domestic orientated stocks while the market rally was driven by exporters. However the currency impact of the weaker Yen was reduced by hedging. The fund is largely un-hedged back into Australian dollars as the manager does not see the currency appreciating substantially from $1.05. The fund's outlook is evidenced by its sector diversification, overweight to developing markets and hedging to reduce tail-risks / extreme market events. |
| More Information | » View detailed profile of this fund |
