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| Fund Overview | The Fund seeks to profit from trading securities which are primarily subject to corporate events or from trading-related securities which the Investment Manager believes are mispriced by the market. The Fund invests in securities that are listed on Asian stock markets and other markets where related securities may be listed and in securities which are listed on markets outside of Asia where more than 70% (by assets or earnings) of the underlying business originates from an Asian country. The Fund aims to generate consistently positive returns which have a low correlation to the Asian stock markets. The objective is to generate 10-20% pa with a standard deviation of 6-10% |
| Manager Comments | Over the last year the Fund's maximum drawdown is 0.92% (6.72% ASX 200 Acc) and the Fund's Sharpe and Sortino ratio are notable at 3.56 and 7.43 respectively. In terms of commentary the Manager notes that 'Intra month volatility presented good trading opportunities in the holding company universe, with a number of structures either trading at 52 weeks highs and lows. Such discount dislocations are usually common during earnings season, as was the case in Hong Kong and Japan, or when market volatility swings significantly (as measured by VIX). Within M&A, deal volume in February was the strongest in 6 months, with average deal size being US$990 million. One key theme that emerged in Asian M&A during the month was optionality (price bump opportunities).' |
| More Information | » View detailed profile of this fund |
