| Report Date | |
| 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 | - Australian and International Equity Long/Short - Global Fixed Income Long/Short - Global Macro - Commodity Alpha - Alpha Transport The Fund's goal is to provide investors with a source of consistent, risk-controlled, absolute returns that are over time, expected to have low correlations with the returns of major asset classes. The Fund aims to achieve a return of 8% p.a. before fees, above the RBA Cash Rate Target over rolling 3 year periods. In order to achieve its expected return objective, the Fund will target a total expected risk of between 4-6% p.a. over the same rolling 3 year period. |
| Manager Comments | The manager notes that global markets started the year strongly with a broad rally in equities in the first quarter. Japanese equities out-performed most other markets, rallying 21% buoyed by anticipated aggressive monetary policy easing under the new Abe regime. US equities finished up 11%, while equity returns in Europe were more mixed; German equities finished up 3.7% and Italian equities ended the quarter 6.2% lower due to the uncertain Italian election outcome. Despite the rally in equities, bond prices in most major markets generally firmed as investors retreated to safe have bonds following a resumption of concerns in peripheral Europe with the banking sector bailout in Cyprus and weaker data across Europe. The Multi-Opportunity Fund delivered positive performance in the first quarter. The fund returned 2.78% versus the RBA cash benchmark return of 0.71%, thereby delivering alpha of 2.07%. This is a solid start for the 2013 year to date. The fund delivered positive returns in each of the 3 months of the quarter. The European Equity Long/Short, Fixed Income Global Alpha, Global Equity Long/Short, Global Macro and Commodity Long/Short strategies added value while International Alpha Transport was relatively flat and the Australian Equity Market Neutral strategies detracted from performance. |
| More Information | » View detailed profile of this fund |
