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| 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 | Examining each of the Fund's strategies the Options portfolio was the best performing strategy for the month (+0.58%). As anticipated, the historically low levels of volatility provided an opportunity to profit from an increase in volatility over reporting season. This was most pronounced in the Fund’s March Index Futures position. Also of benefit was the small net long, and long volatility overlay in all four of the the major banks. Boral was an under-performer because the stock rallied sharply while the Fund held a short bias. Under-performing for the month was the Long/Short strategy (-0.16%) despite holding mostly long positions. Atlas Iron came under pressure as a result of the declining iron ore price, a poor result and general materials weakness. A stop loss was implemented over this position. The Yield book was consistent (+0.18%), with ANZ Convertible Preference Shares performing particularly well after going ex-distribution. The Fund continued to add to short dated instruments with mid-year maturities. The Convergence as well as Mergers and Acquisition strategies were both small net contributors to returns. |
| More Information | » View detailed profile of this fund |
