| Report Date | 30 January 2014 |
| Manager | Allard Partners Australia Pty Limited |
| Fund Name | Allard Investment Fund |
| Strategy | Equity Long |
| Latest Return Date | December 2013 |
| Latest Return | 0.00% |
| Latest 6 Months | 3.00% |
| Latest 12 Months | 11.64% |
| Latest 24 Months | 26.84% |
| Annualised Since Inception | 8.88% |
| Inception Date | 01 July 2003 |
| FUM (millions) | AU$121 |
| Fund Overview | Allard Partners is an absolute return, long only security investor with a single mission to provide its clients with a net compound rate of return on their capital of 15% per annum over the long term. With offices in Hong Kong and Australia, Allard invests in quoted companies in the Asia Pacific region. Allard's investment approach has remained consistent throughout their history. That is to invest prudently but proactively in well-managed businesses that achieve superior returns on capital in industries with long-term growth potential. The Manager uses both broad top-down guidance and detailed bottom-up analysis to identify suitable markets, industries and companies. As long only investors, a critical factor in their performance has been their preparedness to hold cash when they cannot find companies that meet their criteria or are at a sufficient discount to their valuations. |
| Manager Comments | Allard Investment Fund had a flat December and returned 11.64% for the previous twelve months with a low standard deviation of 6.99%, in line with its conservative investment philosophy.
Notable over the last twelve was the Fund's up capture ratio at 0.12 while the down capture ratio was -0.72.
The Fund's Australian dollar performance this month was aided by the A$ depreciating 2.1% against the US dollar. At the end of December the asset breakdown of the portfolio stood at 74.8% invested in equities and 25.2% held in cash and fixed income.
By geography the Fund's largest holdings were in HK/China 35.7%, Singapore 13.7% and Korea 9.7%. By sector, the largest holdings were in Financial Services 17.2%, Conglomerates 12.6% and Telco's at 9.5%. The top five holdings amounted to 42.3% of the portfolio. |
| More Information | » View detailed profile of this fund |
