| Report Date | 23 October 2013 |
| Manager | Pengana Capital |
| Fund Name | Pengana Australian Equities Fund |
| Strategy | Equity Long |
| Latest Return Date | September 2013 |
| Latest Return | 1.38% |
| Latest 6 Months | 5.34% |
| Latest 12 Months | 24.09% |
| Latest 24 Months | 48.08% |
| Annualised Since Inception | 13.43% |
| Inception Date | 01 July 2008 |
| FUM (millions) | AU$339 |
| Fund Overview | The Fund invests in listed equities and seeks to hold a concentrated core portfolio of 15-20 listed stocks in outstanding businesses to provide capital preservation in real terms, and A$ returns of 12-15% p.a. compounded over the medium term time horizon. The Fund seeks to generate consistent investment returns using fundamental research to identify companies with competent management and resilient business models. The investment methodology is designed to profit from a focus on tax aware returns (both capital and income) generated by owning outstanding businesses at reasonable prices. |
| Manager Comments | The Pengana Australian Equity Fund returned 1.38% in September, taking 12 month performance to 24%, in line with the ASX200 Accumulation Index but with 12 month volatility of 7.39%, significantly lower than the Index's 11.01%. Over the past five years the Fund's annualised return was 14.69%, versus the market's 7.29%, with five-year volatility at 10.19% against the market at 14.78%, and a Sharpe Ratio of 1.02 versus the market's 0.29.
At the end of September the Fund's cash position was 27% of NAV with the five largest positions being Duet, ANZ, Telstra, NAB and Caltex. Exposure to US$ and New Zealand based companies stood at 21%. |
| More Information | » View detailed profile of this fund |
