9 Aug 2013 - Bennelong Long Short Equity Fund

By: Australian Fund Monitors

Report Date	07 August 2013
Manager	Bennelong Group
Fund Name	Bennelong Long Short Equity Fund
Strategy	Equity Market Neutral
Latest Return Date	July 2013
Latest Return	3.52%
Latest 6 Months	15.07%
Latest 12 Months	13.89%
Latest 24 Months	28.40%
Annualised Since Inception	21.18%
Inception Date	01 January 2003
FUM (millions)	AU$341.8
Fund Overview	Bennelong Long Short Equity Management applies a qualitative stock selection process to construct a diversified portfolio of paired securities based on relative value. The Bennelong Long Short Equity Management strategy invests primarily in the S&P/ASX 100 and is dollar neutral at cost.
Manager Comments	The Bennelong Long Short Equity Fund returned 3.52% during July. Fund performance was solid with the long portfolio comfortably outperforming the negative impact from the short portfolio. At the sector level, the best positions were in Consumer Discretionary, Energy and Materials which were all strong but partially offset by negative returns in Industrials and Financials. The August reporting season is expected to be patchy as the domestic economy remains weak however market expectations are commensurate with the poor operating conditions. As such there may not be too many surprises when profits are released.
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