10 Mar 2014 - Bennelong Long Short Equity Fund

By: Australian Fund Monitors

Report Date	07 March 2014
Manager	Bennelong Long Short Equity Management, a Bennelong Funds Management boutique
Fund Name	Bennelong Long Short Equity Fund
Strategy	Equity Market Neutral
Latest Return Date	February 2014
Latest Return	2.50%
Latest 6 Months	3.71%
Latest 12 Months	22.39%
Latest 24 Months	49.26%
Annualised Since Inception	20.61%
Inception Date	01 January 2003
FUM (millions)	AU$335
Fund Overview	Bennelong Long Short Equity Management applies a qualitative stock selection process to construct a diversified portfolio of paired securities based on relative value. The Bennelong Long Short Equity Management strategy invests primarily in the S&P/ASX 100 and is dollar neutral at cost.
Manager Comments	Bennelong Long Short Equity Fund returned 2.50% in February and 20.61% since inception in January 2003 with below Index (ASX 200 Accumulation) volatility. The Sharpe ratio is 1.25 and maximum drawdown 12.22%. Up and down capture ratios are 0.16 and -1.76. All data is since inception. The Manager notes that the fund performed satisfactorily through what was quite a turbulent month due to a number of positions in the portfolio experiencing significant price movements in response to company earnings releases. An example was Seek/Fairfax, where Seek reported one of the best results in the reporting season and the stock rallied +38% for the month. This was offset when Fairfax managed to deliver on their cost out program and the stock rallied +41% over the same period.
More Information	» View detailed profile of this fund

Fund Monitors Pty Ltd

10 Mar 2014 - Bennelong Long Short Equity Fund