| 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 | The Fund's derivatives strategy primarily involves the selling of cash-backed put options to purchase stocks at a price in Wingate's fair price range but below current market price. The sale of the put option can result in either purchase of the stock at an acceptable price to Wingate, or the Fund receiving income in the form of the option premium. Importantly all option positions are fully backed by cash holdings and the Fund does not borrow to make investments. In addition, covered call options may be used to sell stocks that are held in the portfolio. |
| Manager Comments | On a monthly basis for the past 12 months, the portfolio captured 91% of the market's gain when the market was positive but only 54% when the market was negative. The Fund's performance benefited from strong stock selection in the US, offset by a lack of exposure to Japan and an under-weight position to European shares. The Fund's total return was also helped by the weakening US dollar. In a low-growth macro environment the portfolio has increased its exposure to companies returning significant amounts of capital through dividends or share-buy backs. |
| More Information | » View detailed profile of this fund |
