30 Jun 2014 - Fund Review: Microequities Deep Value Microcap Fund May 2014

• The Microequities Deep Value Fund has a 5 year track record investing in ASX listed equities.  The Fund is a fundamental, research-driven Fund investing in equities with a market cap below $250m. The Fund uses a value philosophy based on the view that microcaps are often under-researched and under-valued.CIO Carlos Gil has over 15 years financial market experience across a broad range of equities.
• The Fund has delivered very strong performance since inception with a 29.82% annualised return compared to the ASX 200 Index
  Accum return of 14.89%. Volatility has been somewhat higher than the Index at 15.09% (ASX 200 Accum 12.63%) however the
  Sharpe ratio at 1.58 (0.88) reflects the very high incremental returns for taking on the extra volatility/risk.
• The Fund does not short, use derivatives or borrow i.e., it is long  only and is concentrated; usually with 15 to 20 companies across
  industrial sectors. Resource stocks are avoided.

Australian Fund Monitors