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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 Australian Share Market had a volatile fourth quarter finishing up 3.4% however it lagged global indices as multiple IPO's and equity raisings weighed on the market. The quarter was dominated by the possible tapering of QE, but the local AGM season and quarterly updates brought mixed news. The Banks, Telco's, Health Care and the Materials sectors were the main drivers of the market as investors sought yield and growth. Against the fall over the quarter, risk appetite increased in December with the market once again shifting its focus towards smaller cap, higher risk cyclical stocks. This also occurred in the third quarter where we saw an increase in risk appetite at month end. |
| More Information | » View detailed profile of this fund |
