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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 manager comments that 'One of the Funds' largest long positions in Sky City Network Television worked well with strong results driven by good advertising revenue and lower content costs. On the other side a short in Echo Entertainment worked against us as further expected earnings downgrades dissipated with result stabilising, while a change in CEO was viewed positively. Our Revisions factor dominated performance over the month with Quality, Value and Momentum factors also all positive.' |
| More Information | » View detailed profile of this fund |
