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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 Fund's risk characteristics are notable with an annualised standard deviation of 5.71% and largest drawdown of -12.41% since inception, as compared to the ASX 200 Accumulation numbers of 13.27% and -47.19% respectively. In addition, over the same time frame, the Fund's up capture ratio is 0.11 and down capture ratio -0.60. Portfolio performance was strong in July. Solid gains for oil and gas stocks, assisted by geo-political tensions lifting the oil price, contributed significantly to portfolio performance. The weakness of domestic defensives, as cyclicals rallied, was another major contributor to performance. Of the investment insights, market and quality insights dominated portfolio performance, particularly the reversionary signals which had an outstanding second half of the month. |
| More Information | » View detailed profile of this fund |
