| Report Date | 23 April 2013 |
| Manager | Allard Partners Australia Pty Limited |
| Fund Name | Allard Investment Fund |
| Strategy | Equity Long |
| Latest Return Date | March 2013 |
| Latest Return | -2.10% |
| Latest 6 Months | 4.94% |
| Latest 12 Months | 6.72% |
| Latest 24 Months | 9.16% |
| Annualised Since Inception | 8.47% |
| Inception Date | 01 July 2003 |
| FUM (millions) | AU$124 |
| Fund Overview | Allard Partners is an absolute return, long only security investor with a single mission to provide its clients with a net compound rate of return on their capital of 15% per annum over the long term. With offices in Hong Kong and Australia, Allard invests in quoted companies in the Asia Pacific region. Allard's investment approach has remained consistent throughout their history. That is to invest prudently but proactively in well-managed businesses that achieve superior returns on capital in industries with long-term growth potential. The Manager uses both broad top-down guidance and detailed bottom-up analysis to identify suitable markets, industries and companies. As long only investors, a critical factor in their performance has been their preparedness to hold cash when they cannot find companies that meet their criteria or are at a sufficient discount to their valuations. |
| Manager Comments | The Allard Investment Fund was impacted by the weaker Australian dollar, falling 2.1% for the month. Twelve month performance to end March was 6.72% and since inception the Fund has returned a net compound annual return of 8.47%.
The Fund's performance is notable for its low level of volatility with five year annualised volatility of 9.7% as compared to the MSCI Asia Pacific ex Japan volatility over the same period of 14.8%.
In terms of geographic exposures the Fund was allocated; China/Hong Kong 29.7%, Singapore 12.5%,Korea 9.7%, India 6.3% and others 2%. Notably cash and fixed income was 31.7% of the portfolio. In terms of industry the largest exposure was financial services 15.7% followed by conglomerates 12.2%, telecomms 8.0% and retail 6.4% with other sectors 26%.
The Fund's top 5 holdings are 36.4% with the next five holdings 15.7%.
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| More Information | » View detailed profile of this fund |
