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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 | The Fund had a significant positive contribution from a small cap long position in the mobile payments space that was up strongly during September. The Manager trimmed the position slightly for risk management purposes but remain upbeat about the company's prospects over the medium term. There have been a number of notable success stories in this space in the USA and the investment is an early mover in the Australian market. Top contributors to performance in September were long positions in Mint Wireless +3.91%, Ingenia Communities +0.65% and Steadfast Group +0.69%. Biggest detractors were our short positions in Leighton -0.62%, RCR Tomlinson - 0.47% and our long position in Sundance Energy -0.45%. |
| More Information | » View detailed profile of this fund |
