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| Fund Overview | The Fund is a long/short investment fund principally investing in listed entities, commodities, futures and options in Australia and internationally. The Fund is not a market neutral fund and accordingly may switch between net long positions and net short positions. The Fund may use short sales and derivatives as determined by Totus Capital. Gearing may be used to enhance returns and the Fund may be geared in excess of 100% of the Fund's Net Asset Value. There is a limit to net exposure of 150%. |
| Manager Comments | Since inception in April 2012 the Fund has returned 29.1% (24.2% ASX 200 Acc Index) with a Sharpe Ratio of 1.41, Sortino Ratio of 3.14 and a down capture ratio of -0.84. The Fund also has a negative correlation of -0.209 to the Index. August was a tricky month for the fund. A number of the trends that the Manager had anticipated heading into reporting season did in fact play out but struggled to make money from them. The Manager had anticipated weak outlook statements and consensus earnings downgrades from a number of cyclical companies (and had positioned accordingly) yet many of these stocks rallied in spite of the downgrades. The Manager has been gradually trimming short positions (particularly in cyclical companies) and increasing the net long exposure of the fund. |
| More Information | » View detailed profile of this fund |
