| Report Date | 21 January 2014 |
| Manager | Aurora Funds Management |
| Fund Name | Aurora Fortitude Absolute Return Fund |
| Strategy | Equity Market Neutral |
| Latest Return Date | December 2013 |
| Latest Return | 0.74% |
| Latest 6 Months | 3.43% |
| Latest 12 Months | 7.57% |
| Latest 24 Months | 12.12% |
| Annualised Since Inception | 8.16% |
| Inception Date | 15 February 2005 |
| FUM (millions) | AU$137 |
| Fund Overview | Aurora Fortitude Absolute Return Fund is a multi-strategy market neutral fund specialising in ASX listed equities and derivatives. The core philosophy is the management of risk through a long volatility overlay incorporating listed equity and index derivatives. The multi-strategy approach includes M&A, Yield, Convergence and Long/Short strategies. The portfolio managers adopt an aggressive approach to managing downside risk whilst positioning the portfolio to benefit from positive alpha.
The Fund aims to produce positive returns irrespective of the direction of the share market. For each investment the manager considers the risk, the timeline of that risk occurring and then the potential return. Low transaction costs and liquidity are other important factors in the success and implementation of the strategies. |
| Manager Comments | Aurora Fortitude Absolute Return Fund returned 0.74% during December and 7.57% for the last 12 months with a volatility of 1.58% and only one month of negative returns. The Fund also recorded positive returns for the four months the equity market was negative over the last year.
All strategies had positive returns in December with Mergers and Acquisitions the best performing strategy with 0.28% followed by the Yield strategy with 0.27% which benefited from the Fund's holding in Yancoal Contingent Value Rights. |
| More Information | » View detailed profile of this fund |
