| Report Date | 27 February 2013 |
| Manager | LHC Capital Pty Ltd |
| Fund Name | LHC Capital Australia High Conviction Fund |
| Strategy | Equity Long/Short |
| Latest Return Date | January 2013 |
| Latest Return | 0.12% |
| Latest 6 Months | 15.21% |
| Latest 12 Months | 16.70% |
| Latest 24 Months | |
| Annualised Since Inception | 14.94% |
| Inception Date | 01 May 2011 |
| FUM (millions) | 50 |
| Fund Overview | The Fund pursues a high conviction strategy in value-driven focused on Australian companies on the ASX with an emphasis on the mid-cap segment. The portfolio will typically contain a maximum of ten such positions with a total exposure for these positions not exceeding 50%. Returns from these positions can be lumpy and in certain conditions these trades may not perform well for a period of time. The strategy uses ordinary equities and Exchange-Traded Options over ordinary equities. The Fund does not hold uncovered option positions. Top down macro and bottom up fundamental research combine to construct long and short trade ideas, while active trading is deployed to manage risk. |
| Manager Comments | The LHC Capital Australia High Conviction Fund delivered 0.12% during January and 16.7% for the preceding 12 months.
The Fund has significant sector under/over weightings with over-weights in financials at 23%, healthcare at 17% and materials 16%. Notable under-weights were Energy at 2% and Consumer Discretionary at 2%.
The most profitable holdings were Mayne Pharma with a contribution of 2.29%, Technology One 0.44% and Freedom Foods 0.43%. Loss positions were Teranga Gold with a -0.98% contribution, Reva Medical -0.40% and Platinum AM -0.40%.
In terms of exposures the fund was 81.2% long and 26.6% short for a gross exposure of 107.8% and net exposure of 54.6%. |
| More Information | » View detailed profile of this fund |
