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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 and Timing. Short-Term return enhancing opportunities including: Dividend reinvestment plans, Manging index changes, Managing cash flows and Arbitrage, Initial public offerings and Seasoned Equity Offerings and Off Market Buybacks. |
| Manager Comments | The portfolio benefited from the declines in resource stocks over the quarter, with shorts in small cap base metal and gold miners adding value in April and June. The sell down of yield stocks did not have a significant direct effect on portfolio performance, although the associated outperformance of other industrials and USD earners was a negative for the portfolio. Positive stock selection amongst healthcare and retail stocks was a significant positive contributor to the quarter's performance. |
| More Information | » View detailed profile of this fund |
