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| Fund Overview | The Fund's portfolio primarily consists of long and short Australian equity positions. The Fund may also invest in other funds managed by BlackRock. Derivative securities, such as futures, forwards, swaps and options, can be used to manage risk and return Key insights into the investment process include: - Analyst Expectations - Relative Valuation - Earnings Quality - Market Signals - Timing Short-Term return enhancing opportunities including: - Dividend reinvestment plans - Manging index changes - Managing cash flows - Arbitrage - Initial public offerings and Seasoned Equity Offerings - Off Market Buybacks |
| Manager Comments | The manager notes that January saw strong performances from many of the more volatile and poor quality stocks. The portfolio suffered from strong rallies in several specific stocks in the resources sector as the market rewarded good news catalysts, despite resources under-performing overall. Significant positive contributions to the portfolio came from long positions in selected domestic cyclicals and stable yield names. Two of the Fund’s top contributors for the month were the long positions in Aristocrat Leisure (ALL) and Flight Centre (FLT). Among the top detractors were the short positions in Linc Energy (LNC) and Alumina(AWC). The Fund has notable sector over-weights in Materials, Consumer Discretionary and Financials and a zero weight in Consumer Staples. |
| More Information | » View detailed profile of this fund |
