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| Fund Overview | |
| Manager Comments | The manager notes that the MSCI (AUD) rose 1.9% over the month and the market was caught between easy central bank policy and macro issues facing the global economy. In the UK the tug-of-war between ongoing low rates and a credit downgrade saw the equity market up 1% however the pound dropped 4.5%. The Italian market fell 9% after the election left the political situation very fluid. In the US budget issues remained however the US market still out-performed emerging markets and the $US was stronger. Japanese equity continued to record strong returns up 4.0% assisted by the Yen which fell 1% and a new Bank of Japan Governor. The fund's over-weight to Japan at 21.7%, assisted fund performance. At month-end the Fund was 99% long and 12% short with cash and liquids at 1% for a net invested position of 88%. |
| More Information | » View detailed profile of this fund |
