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| Manager | |
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| Strategy | |
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| Latest Return | |
| Latest 6 Months | |
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| Latest 24 Months | |
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| Fund Overview | The manager's investment approach is premised on the belief that fundamental factors (such as earnings, cash flow and profit growth) affect stock prices, but that the adoption of quantitative techniques (i.e. computer based models) provides an advantage in assimilating and analysing this information, and building an efficient portfolio. The Fund's portfolio is constructed to be 'Market Neutral' i.e. it aims to have little or no overall exposure to movements in the equity market. The aim of low exposure to market movements is to enhance the consistency of the portfolio's performance and to provide diversification from other market oriented investments. |
| Manager Comments | The Fund's lower risk is indicated by a downside deviation of 4.96% and largest draw-down of 13.47% as compared to 11.57% and 33.11% for the Index respectively. Earnings Revisions provided a small positive return over the quarter as it continued on a mostly sideways trend. This is a surprising result given this period includes reporting season where Earnings Revisions typically works very well. The Manager notes that they tend to see Earnings Revisions working well alongside the Quality factor, and can now see downgrade pressure starting to build across the poorer quality, small cap cyclical stocks. On the other side the Manager is seeing upgrade pressure increasing across good quality, defensive mid cap stocks. |
| More Information | » View detailed profile of this fund |
