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| Manager | |
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| Strategy | |
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| Latest Return | |
| Latest 6 Months | |
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| Latest 24 Months | |
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| FUM (millions) | |
| 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 | Since inception (Sept 2008) the Fund has returned 9.43% pa with a volatility of 7.96% pa. ASX 200 Accum index comparatives are 5.81% and 14.85% respectively. The Fund's maximum draw-down is 13.47% as compared to the Index at 33.11%, reflecting the market neutral strategy. Since inception the Fund has a beta and correlation to the ASX 300 of 0.00. Quality was the only factor that provided a positive return over the month with Revisions, Value and Momentum factors under-performing. Falling market volatility combined with a compression in returns across 20 underlying alpha metrics provided little opportunity for broader factors to gain any real traction. Risk appetite continued to fall in April as lower risk yield stocks remained in favour, while value continued to be largely ignored with prices being driven up by the chase for quality. |
| More Information | » View detailed profile of this fund |
