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| Latest Return | |
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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 | Since inception in March 2005 the Fund has returned 7.94% (Index 7.65%) with a volatility of 2.70% (Index 13.98%). The Sharpe ratio over this time was 1.19 compared to 0.27. Aurora Oil and Gas was the stand-out in the Merger & Acquisition strategy (+0.145%) with yield (+0.196%) again the best performing strategy for the month. The Protective Option Overlay was again a draw-down on performance (-0.30%). The lack of volatility in global markets has been a major discussion point in the financial press with the continuation of easy monetary policy and low interest rates being seen as the major factors contributing to this ongoing phenomenon. One of the benefits of the option strategy is that it allows us to trade some riskier positions in larger size, and this was reflected in more positive returns in our Long/Short Portfolio (+0.13%). |
| More Information | » View detailed profile of this fund |
