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| Fund Overview | - Australian and International Equity Long/Short - Global Fixed Income Long/Short - Global Macro - Commodity Alpha - Alpha Transport The Fund's goal is to provide investors with a source of consistent, risk-controlled, absolute returns that are over time, expected to have low correlations with the returns of major asset classes. The Fund aims to achieve a return of 8% p.a. before fees, above the RBA Cash Rate Target over rolling 3 year periods. In order to achieve its expected return objective, the Fund will target a total expected risk of between 4-6% p.a. over the same rolling 3 year period. |
| Manager Comments | Notable over this period was the Fund's largest drawdown of 2.61% as compared to the Index's largest drawdown of 25.8%. The Multi Opportunity Fund underperformed in August with detractions across equity market neutral and Fixed Income Global Alpha strategies. Global Macro and Commodity strategies added value helping to offset these detractions. The fund returned -0.18% gross of fees versus the RBA cash benchmark return of 0.21%. Year to date, the Fund has returned 5.50% gross of fees. The Australian equity selection strategy had small negative performance in August. This was attributed mainly to underweight positioning in sectors related to the resources rally, in particular Mining Services and Oil / Gas. Signal performance was led by our market signals, particularly the liquidity provision signals, and our earnings quality signals. Earnings direction insights tended to detract value, especially those based on analyst sentiment. |
| More Information | » View detailed profile of this fund |
