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| Fund Overview | The Fund aims to produce positive returns irrespective of the direction of the share market. For each investment the manager considers the risk, the timeline of that risk occurring and then the potential return. Low transaction costs and liquidity are other important factors in the success and implementation of the strategies. |
| Manager Comments | The Fund's risk management was evident over the last twelve months with a Sortino of 16.57 (1.16), 100% positive months and a down capture ratio of -0.2. The Sharpe ratio was 3.28 (0.76). In terms of strategies the Fund Report comments 'The best performing strategy for the month was Yield (+0.17%) and it is currently the largest strategy weighting for the Fund. One of the biggest events for the market in April was the Australian de-listing of Twenty-First Century FOX leaving the company's issued securities to trade solely in the US. This provided some good liquidity opportunities as many funds repositioned their portfolios for the de-listing event and the requirements of their mandate.The Protective Options overlay cost the Fund -0.12% due to the low volatility environment. The Mergers and Acquisitions strategy also detracted from the Funds returns (-0.11%).' |
| More Information | » View detailed profile of this fund |
