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| Fund Overview | The Fund focuses on fundamental long and short investments. The Fund may utilise a multi-strategy approach if short term opportunities to increase returns, hedge the portfolio, protect capital or minimise volatility are found. The Fund is a high conviction fund and the combined portfolio will typically have 25-45 positions, investing primarily in stocks in the ASX200. The Fund may be net long, short or neutral depending on the strategies employed at the time. The Fund may hold cash so that it is in a position to take advantage of market volatility and compelling investment opportunities as and when they arise. The Fund may be geared up to 200% gross long or short and up to 150% net long or short. |
| Manager Comments | The Sharpe ratio was 5.58 with the Up and Down Capture ratio 1.55 and -1.00 respectively. The fund had no negative months over the last year. Average gross capital employed by the Fund was 147.1% long and 31.7% short and average net exposure over the month was +115.5%. At the end of the month the Fund had 37 long positions and 7 short positions. The Manager's monthly Newsletter is entitled 'Distinguishing Risk From Volatility' and is available on the AFM website. |
| More Information | » View detailed profile of this fund |
