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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 was notable in having an up capture ratio of 1.16 and down capture ratio of -1.52 over the last 12 months. Correlation with the ASX 300 Accum has been very low at -0.052 (since inception). As at 31 December, the fund had a net exposure of 93% and a gross exposure of 248%. The fund held 98 positions (54 long and 44 short) and major investment exposures were as follows: Longs: Online 14%, Sustainable yield 21%, Scarce growth 29%; Shorts: Structural change 19%, Mining Capex 29%, Gold miners 16%. |
| More Information | » View detailed profile of this fund |
